Nehru's First Bungalow in Delhi Sold for ₹1,100 Crore: A Historic Real Estate Deal
Historic Bungalow in Delhi Sold for Rs 1,100 Crore. | Images from Social Media. |
New Delhi: A massive property deal has taken place in Delhi, involving the first official residence of India’s first Prime Minister, Jawaharlal Nehru. The bungalow, located at 17 York Road, now known as Motilal Nehru Marg, is situated in the heart of Lutyens’ Bungalow Zone (LBZ).
According to sources, the property has been sold for around Rs 1,100 crore. The asking price was initially set at Rs 1,400 crore, but the final deal was concluded at a lower rate. The buyer is reportedly a well-known businessman from India’s beverage industry, although their name has not been disclosed to the public.
A top law firm is currently verifying the legal details of the property, marking the final stage of the deal. The law firm has also issued a public notice, stating that their client is interested in purchasing the bungalow. They have requested anyone with a claim on the property to come forward within 7 days, or it will be assumed that no other party has a stake in the property.
The current owners of the bungalow are Rajkumari Kakkar and Beena Rani, who are related to a royal family from Rajasthan. The bungalow covers an area of approximately 14,973 square meters (about 3.7 acres) and has a built-up area of 24,000 square feet. This makes it one of the largest and most valuable properties in the area.
The bungalow is located in Lutyens’ Delhi, which is the most expensive and powerful area in the capital. The area was designed by British architect Edwin Lutyens between 1912 and 1930. Lutyens' Zone spans about 28 sq. km and is home to around 3,000 bungalows. Most of these bungalows are government-owned and are occupied by ministers, judges, and other high-ranking officials. However, approximately 600 properties are privately owned, primarily by India’s wealthiest families.
Due to its VIP location, vast land size, and historic value, only a select few billionaires can afford to own real estate in this area. The sale of Nehru’s bungalow for Rs 1,100 crore is a testament to the immense value and prestige associated with properties in Lutyens’ Delhi. The deal has not only made headlines in the real estate market but has also sparked interest among history enthusiasts and the general public.
The bungalow, which has been a symbol of India’s political and cultural heritage, is expected to undergo significant changes under its new ownership. However, the preservation of its historical significance is likely to remain a priority. The sale of this iconic property marks a significant moment in the history of Lutyens’ Delhi and the Indian real estate market.
