Nehru's Delhi Bungalow: India's Most Expensive Residential Property Deal?
The bungalow on Motilal Nehru Marg, once the first official residence of Jawaharlal Nehru, is close to being sold for about ₹1,100 crore, making it a contender for India’s most expensive residential property deal. The sprawling estate lies in Delhi’s prized Lutyens’ Bungalow Zone and is being acquired by a leading businessman from the domestic beverage industry.
Delhi BungalowLuxury PropertyLutyens Bungalow ZoneNehruReal EstateReal Estate MumbaiSep 04, 2025
The sprawling estate lies in Delhi’s prized Lutyens’ Bungalow Zone and is being acquired by a leading businessman from the domestic beverage industry, according to a report by The Economic Times. Business Standard could not independently verify the development.
Who is buying and for how much? According to ET, the property is currently owned by Raj Kumari Kackar and Bina Rani, descendants of an erstwhile royal family from Rajasthan. They had initially sought around ₹1,400 crore, but talks appear to have settled at the lower ₹1,100 crore mark, still placing it among the country’s costliest residential transactions. A law firm acting on behalf of the buyer has published a public notice, confirming that checks on ownership are in their final stages. The notice said: “Our client is desirous of acquiring residential property situated at Plot No. 5, Block No. 14, 17 Motilal Nehru Marg, New Delhi – measuring 14,973.383 sq m – and for the same, we are investigating the title of the current owners.” It further called upon anyone with claims to the property to make themselves known within seven days.
Why is this property so valuable? The reported valuation of nearly ₹1,100 crore for Jawaharlal Nehru’s first Delhi residence reflects the convergence of history, law, and economics that makes properties in this zone among the most coveted in the country. “The Lutyens’ Bungalow Zone is a tightly regulated enclave in the heart of New Delhi, originally designed during the colonial period, and today it houses the highest echelons of government, foreign embassies, and a select few private residences,” Harsh Kumar, Advocate at Jotwani Associates told Business Standard. “It is precisely this exclusivity, combined with acute scarcity of available land, that drives prices to such extraordinary levels,” he added.
Regulation and scarcity From a legal and regulatory standpoint, the LBZ is governed by strict zoning controls that prohibit high-density or high-rise development. Properties are large bungalows on expansive plots, with restrictions on subdivision and reconstruction. This ensures that supply remains fixed and extremely limited. Unlike other parts of Delhi, where real estate has seen vertical growth, the LBZ retains its character of wide avenues, sprawling lawns, and low-density construction — an environment impossible to replicate anywhere else in the capital. “This regulated exclusivity translates directly into astronomical valuations,” Kumar explained.
Location and prestige Situated in the administrative and diplomatic heart of the country, LBZ properties enjoy proximity to the Rashtrapati Bhavan, Parliament, the Supreme Court, North and South Block, and major embassies. “Ownership in this zone is not merely about luxury real estate; it carries with it a mark of prestige, privacy, and influence. For high-net-worth individuals, industrialists, and global investors, the address itself is a symbol of power and status,” Kumar said.
Nehru’s legacy In the case of Nehru’s first residence, there is also the added element of heritage and historical significance. “As the residence of India’s first Prime Minister, the property carries immense symbolic value, which cannot be measured purely in terms of land or construction. Heritage associations often elevate the profile of such assets, making them more attractive to buyers who value legacy as much as location,” said Kumar. He added: “The ₹1,100 crore valuation also aligns with recent market precedents. Transactions in the LBZ over the past decade have consistently been in the several-hundred-crore range, with per-square-yard prices among the highest in Asia. When a property combines the rarity of LBZ ownership with the historical gravitas of Nehru’s legacy, the price naturally escalates to this level.”
What makes this property so expensive is not just its size or its address, but the intersection of restricted supply, regulatory exclusivity, proximity to national power centres, and unique historical significance. Together, these elements create a valuation that is less about real estate alone and more about acquiring a piece of India’s political and cultural heritage, Kumar said.
Big-ticket residential deals across India While this potential sale could set a new benchmark, several other luxury homes in Mumbai, Gurugram, and Delhi have also commanded staggering prices in recent years. A decade earlier, in 2015, Cyrus Poonawalla acquired Lincoln House, a 50,000 sq ft heritage mansion in Mumbai that once housed the U.S. Consulate, for around ₹750 crore. The transfer has not been completed, as the Defence Ministry’s estates department raised objections over the sale. In May 2025, Leena Gandhi Tewari, chairperson of USV Pharmaceuticals, purchased two sea-facing luxury duplexes in Worli, Mumbai, for ₹639 crore. After stamp duty and GST, the cost climbed to nearly ₹703 crore. “Mumbai’s luxury market is consistently shattering records,” said Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and Indextap.com. The promoters of Metro Brands bought four luxury flats in Palais Royale, Lower Parel, for ₹405 crore in December 2024. On December 20, Ziya Malik and Alisha Rafik Malik purchased two apartments of 7,680 sq ft each for ₹81 crore apiece. Soon after, Farah Rafik Bhajni and Shabina Malik Hadi acquired two similar units, also for ₹81 crore each. Each flat came with five car parks, carried a per sq ft price of more than ₹1.05 lakh, and attracted ₹4.05 crore in stamp duty. Banker Uday Kotak paid over ₹400 crore to acquire an entire residential building on Worli sea-face. The deal set a record rate of ₹2.75 lakh per sq ft, an unprecedented benchmark in Indian residential property. The Taparia family from Famy Care purchased a triplex apartment at Lodha Malabar, Malabar Hill, for ₹310 crore. The residence covers more than 27,000 sq ft and was valued at ₹1.36 lakh per sq ft. In April 2025, Pirojsha Adi Godrej, chairperson of Godrej Properties, and his cousin Freyan Crishna Bieri bought four apartments near Peddar Road for ₹290.59 crore at ₹1.78 lakh per sq ft. Around the same time, Tanya Dubash, daughter of Adi Godrej, purchased a duplex in Naman Xana for ₹225 crore at ₹2.2 lakh per sq ft. The Kabra family, promoters of RR Kabel, struck a ₹200 crore deal at 360 West, Worli, further adding to the cluster of ultra-luxury purchases in the area. In 2024, a penthouse at DLF Camellias in Gurugram sold for about ₹190 crore, working out to ₹1.8 lakh per sq ft of carpet area — the highest rate ever recorded for an Indian apartment at that time. In March 2024, S R Menon Properties bought a 15,000 sq ft apartment at Lodha Sea Face, Worli, for ₹187.47 crore. The luxury project, developed by Macrotech Developers, includes 29 high-end residential units. Neerav Parekh, chairman of Barnsley Football Club, and his mother Kalpana Parekh picked up two flats in Naman Xana worth ₹170 crore in December 2024, according to property registration documents.
Frequently Asked Questions
What is the estimated value of Nehru's first Delhi residence?
The bungalow on Motilal Nehru Marg, once the first official residence of Jawaharlal Nehru, is close to being sold for about ₹1,100 crore.
Who are the current owners of the Nehru bungalow?
The property is currently owned by Raj Kumari Kackar and Bina Rani, descendants of an erstwhile royal family from Rajasthan.
What makes the Lutyens' Bungalow Zone so valuable?
The Lutyens' Bungalow Zone is a tightly regulated enclave in the heart of New Delhi, housing high government officials, foreign embassies, and a select few private residences. The exclusivity and scarcity of land drive prices to extraordinary levels.
What is the historical significance of Nehru's bungalow?
As the residence of India’s first Prime Minister, the property carries immense symbolic value and historical significance, making it more attractive to buyers who value legacy as much as location.
What are some other notable luxury property deals in India?
Notable deals include the purchase of Lincoln House in Mumbai by Cyrus Poonawalla for ₹750 crore, Leena Gandhi Tewari's purchase of two sea-facing duplexes in Worli for ₹639 crore, and Uday Kotak's acquisition of a residential building on Worli sea-face for ₹400 crore.
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