Gentex Merchants Pvt Ltd, associated with Lakshmi Mittal, has acquired a 3,540 square yard bungalow on APJ Abdul Kalam Road in the prestigious Lutyens’ Bungalow Zone of Delhi for Rs 310 crore.
This property was previously owned by Yashwant Singh, a member of the Alwar royal family in Rajasthan. Singh recently purchased an 867 square meter bungalow in Golf Links for Rs 100 crore.
According to the sale deed obtained by RealtyDailyNews, Gentex Merchants paid Rs 21.7 crore in stamp duty for the deal, which was registered in June.
The company has not responded to RealtyDailyNews’s email inquiry as of press time Wednesday.
Located within India’s political heart, the Lutyens’ Bungalow Zone spans 28 sq km and accommodates around 3,000 bungalows, primarily home to ministers, judges, and senior government officials. Approximately 600 properties in this area are privately owned by some of India’s wealthiest individuals. Designed by British architect Edwin Lutyens between 1912 and 1930, LBZ is renowned as one of the most exclusive and expensive real estate areas in the country.
This transaction is part of a series of high-value deals in LBZ, highlighting the ongoing demand for prestigious assets in India’s most sought-after neighborhood.
Recent Transactions:
1. Property in: Golf Links
Bought by: Sanjay Kukreja of private equity firm ChrysCapital
Total construction area: 1,045 sq meters
Sold for: Rs 155 crore
Price per sq meter: Rs 14.83 lakh
2. Property in: Prithviraj Road
Bought by: Sidhant Real Estate, linked to DLF chairman Rajiv Singh and his family
Total area: 1,839 sq meters
Sold for: Rs 150 crore
Price per sq meter: Rs 8.1 lakh
3. Property in: Hailey Road
Bought by: Rangoli Resorts Pvt Ltd, where Sheela Foam executive chairman Rahul Gautam serves as a director
Total area: 1,486 sq meters
Sold for: Rs 165 crore
Price per sq meter: Rs 11.10 lakh
4. Property in: Kautilya Marg
Bought by: Anurang Jain, MD of Endurance Technologies Ltd
Total area: 1,132 sq meters
Sold for: Rs 130 crore
Price per sq meter: Rs 11.48 lakh
5. Property in: DLF’s The Camellias in Gurgaon
Bought by: Info-X Software Technology Pvt Ltd, via its director Rishi Parti
Total area: 1,513 sq meters
Sold for: Rs 190 crore
Price per sq meter: Rs 12.55 lakh
