Essel Group Chairman Subhash Chandra has reportedly sold his expansive bungalow in the Lutyens' Bungalow Zone (LBZ) for Rs 1,260 crore, Economic Times reported. The 2.8-acre property, located on Bhagwan Das Road, ranks among the most expensive residential deals in India. The transaction is expected to be completed by Dec 30, 2026, according to the report by Economic Times
Chandra had acquired the estate in 2015 for Rs 304 crore. The nearly fourfold jump in valuation over just over a decade highlights the steep premium attached to prime land parcels in Delhi's most exclusive neighbourhood. This deal is also said to be one of the most property transactions in the country.
The Lutyens' Bungalow Zone, a tightly regulated enclave in the heart of the national capital, has long been synonymous with power and privilege. Home to senior government officials, judges, diplomats and a select group of industrialists, the area is marked by strict development norms and limited land availability.
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Property consultants note that transactions in LBZ are rare, given the scarcity of large plots and regulatory curbs on subdivision and redevelopment. As a result, each deal is closely tracked as a barometer of demand for trophy assets among India's wealthiest buyers.
Market experts attribute the sharp appreciation in this case to a combination of constrained supply, enduring demand and the cachet associated with owning property in the capital's most prestigious district. Unlike conventional real estate markets, where price movements often reflect broader economic cycles, LBZ properties tend to command a structural premium driven by exclusivity, according to ET.
Other high-value deals are also said to be underway in the Lutyens' Bungalow Zone.
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