The daughter of DLF Chairman KP Singh, Renuka Talwar, has purchased a bungalow on Prithviraj Road for Rs 435 crore in one of the biggest property deals in Lutyens' Delhi, according to sources.
The house belonged to Kamal Taneja who is in fact the managing director of real estate developer TDI Infracorp. It is located on a 4,925 sq metre plot, and has a built up area of around 1,189 square metres. Taneja sold it for Rs 8.8 lakh per sq m. Based on current circle rates, its value is around Rs 383 crore.
Renuka Talwar is married to GS Talwar, non-executive Director at DLF. Her father, the billionaire, Mr. Singh, already owns two bungalows on Dr APJ Abdul Kalam Road in Lutyens' Delhi. Taneja has decided not to comment on this piece of news and there was no response to the questions sent to Singh and Talwar.
The last big transaction on Prithviraj Road was the purchase by Shahi Exports' Harish Ahuja of a 2,650 sq/m plot with about 836 sq/m of built-up area for Rs 173 crore in September 2015 at Rs 6.53 lakh per sq m.
"This year has been a little dull for Lutyens' Delhi area. There is a price mismatch happening between sellers and buyers," said Santhosh Kumar, CEO, operations, JLL India. Last year's deals include Dabur Group Chairman emeritus VC Burman's purchase of a bungalow in Golf Links for Rs 160 crore in December, while Dr. Subhash Chandra, Chairman of the Essel Group bought a 2.8 acre property on Bhagwan Das Road for Rs 304 crore. Rajiv Rattan, co-founder of the Indiabulls Group, purchased a 2,920 sq yard bungalow on Amrita Shergill Marg for Rs 220 crore in September last year, while Kabul Chawla of real estate firm BPTP sold a 575 sq yard bungalow in Golf Links for Rs 65 crore.
So while you’re busting your ass waiting for cash in a massive line, always remember that the demonetization scheme does not affect these people. They were smart enough to make a ton of money and they’re smart enough to know how to keep the government away!