Delhi's Sunder Nagar Sees Rs 100 Crore Bungalow Sale, Facilitated by CBRE
A luxury bungalow in Delhi's prestigious Sunder Nagar area has been sold for nearly Rs 100 crore. The 900 square yard property was owned by Sunil and Ravi Sachdev and the transaction was facilitated by CBRE. This deal highlights the growing demand for hig
Delhi Real EstateLuxury PropertiesHighend HomesReal Estate MarketCbreReal EstateOct 23, 2024
A luxurious bungalow in Delhi's Sunder Nagar area has recently been sold for a whopping Rs 100 crore. The 900 square yard property, previously owned by Sunil and Ravi Sachdev, has been a topic of much discussion in the real estate market. The sale was facilitated by renowned real estate consultant, CBRE. Despite the attention, the sellers were not available for comments, and CBRE has remained tight-lipped about the details of the deal.
Prestigious Location in Central Delhi
Sunder Nagar, located in the heart of Central Delhi, is one of the most sought-after residential areas in the city. It is home to many of India's top lawyers, judges, bureaucrats, and businessmen, making it a symbol of prestige and luxury. The area is known for its spacious and well-maintained properties, attracting high-net-worth individuals looking for a prime location.
Surge in Luxury Property Sales
The sale of this bungalow is part of a larger trend in the real estate market. According to a recent report by CBRE, sales of luxury homes priced at Rs 4 crore and above have surged in major cities across India. In the January-September period of 2024, sales of such luxury homes increased by 38% compared to the same period last year. Specifically, the number of luxury homes sold rose to 12,630 units, up from 9,165 units in the previous year.
Delhi-NCR Leads the Way
Delhi-NCR has been at the forefront of this luxury property boom, recording the highest sales in the Rs 4 crore and above price bracket. In the first nine months of 2024, 5,855 luxury homes were sold in the region, a significant increase from 3,410 units in the same period last year. Anshuman Magazine, Chairman and CEO of CBRE for India, South-East Asia, Middle East, and Africa, expects this trend to continue. He foresees a heightened demand in the high-end and premium segments, with traditional mid-range markets like Noida, Bengaluru, Pune, and Chennai also gravitating towards luxury developments.
Shift from Bungalows to Modern Developments
As the market shifts from traditional bungalows to modern apartments and penthouses, the premiumization of amenities is becoming a key differentiator in luxury projects. These modern developments are equipped with state-of-the-art facilities, ensuring a high standard of living for their residents. This trend is expected to drive further growth in the luxury real estate market, making it an attractive investment opportunity for both buyers and developers.
Conclusion
The sale of the Rs 100 crore bungalow in Sunder Nagar is a clear indication of the robust demand for luxury properties in Delhi and other major cities. With the market trends showing a consistent rise in the sales of high-end homes, the future of the luxury real estate sector looks promising. CBRE's role in facilitating such high-profile deals further cements its position as a leading player in the industry.
Frequently Asked Questions
What is the price of the bungalow sold in Sunder Nagar, Delhi?
The bungalow in Sunder Nagar, Delhi, was sold for nearly Rs 100 crore.
Who owned the bungalow sold in Sunder Nagar?
The bungalow was owned by Sunil and Ravi Sachdev.
Which real estate consultant facilitated the sale of the bungalow?
The sale of the bungalow was facilitated by CBRE.
What is the trend in luxury property sales in major Indian cities?
Sales of luxury homes priced at Rs 4 crore and above have surged by 38% in major cities across India in 2024 compared to the previous year.
Which region recorded the highest sales in the luxury property segment?
Delhi-NCR recorded the highest sales in the Rs 4 crore and above price bracket, with 5,855 luxury homes sold in the first nine months of 2024.
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