Auto component manufacturer Anand Automotive has acquired a 1,550 square yard bungalow in the prestigious Kautilya Marg area of New Delhi for ₹195 crore, marking one of the highest-value property transactions this year.
The total transaction, including ₹13.65 crore for stamp duty, amounts to nearly ₹210 crore.
The Anand Group did not respond to an email inquiry, and CBRE, the transaction advisor, was unavailable for comment.
Experts indicate that Kautilya Marg is favored by high-net-worth individuals due to fewer construction restrictions compared to Lutyens Delhi.
In recent transactions, Anurag Jain, managing director of Endurance Technologies, purchased a 1,350 square yard bungalow in Kautilya Marg for ₹130 crore. Endurance is known as one of India’s top auto parts manufacturers. Additionally, Aakash Chaudhry, co-promoter and managing director of Aakash Educational Services, has also acquired a bungalow in the area for ₹137 crore.
Demand for luxury and ultra-luxury properties has surged following the pandemic, as high-net-worth individuals and ultra-high-net-worth individuals are acquiring these homes for investment, personal use, or both. This increased demand also reflects the reshaping of HNI investment portfolios amid expected market volatility due to ongoing geopolitical tensions.
Even established business families are now increasingly inclined to invest in expansive ultra-luxury properties, leading to a significant rise in demand and transactions within this segment. With the projected increase in the number of billionaires in India, the demand for ultra-luxury properties is likely to continue its upward trend.
