Lakshmi Mittal-Linked Firm Acquires Rs 310 Crore Bungalow in Lutyens’ Delhi
Gentex Merchants Pvt Ltd, associated with steel magnate Lakshmi Mittal, has purchased a prominent bungalow on APJ Abdul Kalam Road for Rs 310 crore, marking one of the most significant real estate deals in Delhi NCR this year.
Real EstateLakshmi MittalLutyens DelhiHighvalue TransactionsBungalowReal EstateSep 25, 2025
Surya Kumar Kanodia is one of the directors of Gentex Merchants Pvt Ltd, the firm behind this high-profile acquisition. Lakshmi Mittal, the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company, has played a key role in global steel industry consolidation through acquisitions and expansions.
The transaction, registered in June 2025, also involved a stamp duty payment of Rs 21.70 crore. The bungalow, spanning 31,860 sq ft, translates to approximately Rs 8.75 lakh per square yard, highlighting the premium prices commanded in Lutyens’ Bungalow Zone (LBZ).
Lutyens’ Delhi, named after British architect Edwin Lutyens, is the city’s most exclusive residential area, home to sprawling bungalows, government officials, industrialists, and high-net-worth individuals. The area is known for its strict construction and renovation rules aimed at preserving its historic character.
Built in 1930, the property previously belonged to the royal family of Alwar. Yashwant Singh, also known as Maharaj Kumar Yashwant Singh of Alwar, was its last private owner. Earlier this year, he had purchased another Delhi property in the upscale Golf Links area for Rs 100 crore.
This purchase follows several high-value transactions in Lutyens’ Delhi, which remains a preferred choice for industrialists, HNIs, and global business families. Notable transactions include:
- Golf Links: ChrysCapital partner Sanjay Kukreja and wife Shaveta Sharma acquired a property for Rs 155 crore.
- Feroze Shah Road: Kusum Ansal sold her bungalow for Rs 241 crore to Gujarat-based Yatah Enterprise.
- Prithviraj Road: Sidhant Real Estate, backed by DLF chairman Rajiv Singh, purchased a bungalow for Rs 150 crore in October 2024.
In recent years, properties in LBZ have sold for Rs 200–400 crore. The top 7 cities saw approximately 96,690 units launched in Q3 2025, against 93,750 units in Q3 2024, marking a 3% annual increase. On a quarterly basis, there was a 2% drop. In Q2 2025, approximately 98,630 units were launched across the top 7 cities.
The key cities contributing to new supply in Q3 2025 were MMR (Mumbai Metropolitan Region), Pune, Bengaluru, and NCR (National Capital Region), which together accounted for 78% of the total addition, according to ANAROCK report. NCR saw approximately 13,920 units sold in Q3 2025, a decline of 11% over last year and of 2% on a quarterly basis.
Frequently Asked Questions
Who is Lakshmi Mittal?
Lakshmi Mittal is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. He has played a key role in global steel industry consolidation through acquisitions and expansions.
What is Lutyens’ Delhi?
Lutyens’ Delhi, named after British architect Edwin Lutyens, is the city’s most exclusive residential area, home to sprawling bungalows, government officials, industrialists, and high-net-worth individuals. It is known for its strict construction and renovation rules aimed at preserving its historic character.
How much did Gentex Merchants Pvt Ltd pay for the bungalow?
Gentex Merchants Pvt Ltd paid Rs 310 crore for the bungalow on APJ Abdul Kalam Road, making it one of Delhi NCR’s costliest real estate deals in 2025.
What is the significance of the bungalow's location?
The bungalow is located in Lutyens’ Bungalow Zone (LBZ), one of the most exclusive residential areas in Delhi. Properties in this zone command premium prices due to their historical significance and strict preservation rules.
What other notable transactions have taken place in Lutyens’ Delhi recently?
Notable transactions include the acquisition of a property in Golf Links for Rs 155 crore by ChrysCapital partner Sanjay Kukreja and wife Shaveta Sharma, the sale of a bungalow on Feroze Shah Road for Rs 241 crore to Yatah Enterprise, and the purchase of a bungalow on Prithviraj Road for Rs 150 crore by Sidhant Real Estate.
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