Luxury 900 sq yd Bungalow in Sunder Nagar, Delhi, Sells for ₹96 Crore; CBRE Facilitates High-End Deal
A 900 square yard bungalow in the prestigious Sunder Nagar area of Delhi has been sold for nearly ₹96 crore. Real estate consultant CBRE facilitated the transaction, reflecting the growing demand for luxury properties in the national capital.
Delhi Real EstateLuxury PropertiesCbreBungalowHighend MarketReal Estate MumbaiOct 23, 2024
Bungalows in Sunder Nagar have become one of the most coveted residential addresses in central Delhi. The area is particularly favored by top lawyers, judges, bureaucrats, and businessmen, making it a benchmark for luxury living. Property brokers highlight the surge in luxury property sales across major cities, with a notable increase in the sales of homes priced at ₹4 crore and above.
The national capital, especially South and Central Delhi, has witnessed a significant number of high-value property transactions. A recent CBRE report indicated that sales of luxury homes, each priced at ₹4 crore and above, increased by 38% during the January-September period this year across seven major cities. The sales of such luxury homes rose to 12,630 units in January-September 2024, compared to 9,165 units in the same period last year. Delhi-NCR led the way, recording the highest sales in this price bracket at 5,855 units, up from 3,410 units in the previous year.
Anshuman Magazine, Chairman and CEO of CBRE for India, South-East Asia, Middle East, and Africa, anticipates a growing demand in the high-end and premium segments. He observes that traditional mid-range markets in cities like Noida, Bengaluru, Pune, and Chennai are increasingly focusing on luxury developments. Magazine adds, 'As the market transitions from bungalows to modern apartments and penthouses, the premiumisation of amenities will be a key differentiator in luxury projects.'
The surge in luxury property sales is driven by a combination of factors, including a robust economy, stable political climate, and a rising affluent class. The trend is expected to continue, with more high-net-worth individuals looking to invest in premium residential properties in prime locations like Sunder Nagar. The transaction of this 900 square yard bungalow is a clear indicator of the strong market demand for luxury real estate in Delhi.
Frequently Asked Questions
What is the size of the bungalow sold in Sunder Nagar, Delhi?
The bungalow sold in Sunder Nagar, Delhi, is 900 square yards in size.
Who facilitated the sale of the bungalow in Sunder Nagar?
The sale of the bungalow in Sunder Nagar was facilitated by CBRE, a leading real estate consultant.
What is the selling price of the bungalow in Sunder Nagar?
The bungalow in Sunder Nagar was sold for around ₹96 crore.
Why is Sunder Nagar a preferred residential area in Delhi?
Sunder Nagar is a preferred residential area in Delhi as it is home to top lawyers, judges, bureaucrats, and businessmen, making it a benchmark for luxury living.
What does the CBRE report say about luxury property sales in major cities?
The CBRE report indicates that sales of luxury homes priced at ₹4 crore and above increased by 38% during the January-September period this year across seven major cities.
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