India's Most Expensive Real Estate Sale Changes the Game
Kusum Ansal sold her grand Lutyens Delhi bungalow to Gujarat's Yatah Enterprises for ₹241 crore. This deal is known as India's costliest real estate sale. It set a record-breaking price of ₹200,000 per square foot, topping premium properties in Mumbai and cementing Delhi's place as a hub for ultra-luxury purchases.
Transaction Details
- Property type: Heritage-grade bungalow in Lutyens' Delhi (6,364 sq yd plot)
- Buyer background: Yatah Enterprises (Gujarat-based entity)
- Stamp duty & taxes: ₹17.56 crore paid
- Brokerage: India Sotheby's International Realty held exclusive mandate though financial terms undisclosed
Market Significance
This deal highlights two main trends:
- Wealth concentration among legacy Indian business families diversifying portfolios
- Securitisation strategies playing crucial roles in high-stakes transactions
Regulatory Context
The sale was conducted under SARFAESI Act provisions, letting lenders settle defaults through property liquidation. This shows ongoing financial restructuring challenges faced by business conglomerates like Ansal Group.
Bungalow Pedigree
Located on Feroze Shah Road, the bungalow stands for colonial-era architectural grandeur in India’s administrative capital. Such properties rarely hit the market, especially through public listings, keeping Delhi’s Lutyens Zone transactions exclusive and secretive.
Seller Background
Ansal Group, once a leading real estate developer, faced prolonged financial stress. Sources say part of the sale proceeds went to debt settlements for creditors, showing how legacy assets provide liquidity for troubled entities.
Future Implications
This benchmark could speed up HNWI-driven realty acquisitions in prime Delhi locations. The Yatah Enterprises purchase shows emerging patterns where regional conglomerates invest in national capital's top assets. With Delhi's land scarcity and regulatory framework complexities, such transactions are set to dominate India's luxury real estate scene.