Ritesh Malik, the founder of co-working firm Innov8, acquired a 575-square yard bungalow in Delhi’s Golf Links for approximately Rs 85 crore, as confirmed by two sources familiar with the transaction.
This deal contributes to a growing trend of high-value residential purchases by corporate leaders in affluent areas of Delhi, with Golf Links emerging as a favored choice for entrepreneurs in recent years.
India Sotheby’s International Realty facilitated the transaction, representing both the buyer and seller while confirming their exclusive mandate.
“Golf Links has become the preferred choice for entrepreneurs,” said Ashwin Chadha, CEO of India Sotheby’s International Realty. “Lutyens’ Delhi is always in high demand among HNIs, and we guide them on finding the right location and size to simplify their homebuying experience.”
The transaction aligns with current market rates in Golf Links, one of the most coveted and restricted areas within Lutyens’ Delhi.
Malik, who resides in East Delhi, intends to redevelop the property before moving in.
“The location is highly sought after due to its centrality, limited availability of suitable properties, closeness to important government and administrative buildings, abundant greenery, and some of the least dense plots in Delhi’s Lutyens’ Bungalow Zone,” noted an executive.
Previously, Pawan Agarwal, Deputy Managing Director of DB Corp, which publishes Dainik Bhaskar, purchased a 575-square yard bungalow in Golf Links for Rs 75 crore.
Agarwal and Malik now join other notable figures such as Sunil Vachani, Chairman of Dixon Technologies, and Vishwavir Ahuja, former Chairman and Managing Director of RBL Bank, who have also acquired bungalows in Golf Links since the onset of the pandemic.
Vasudha Rohatgi, spouse of former attorney general Mukul Rohatgi, also purchased a 1,250-square yard bungalow in Golf Links for Rs 115 crore, marking her second acquisition in the area within a year, following the purchase of a 2,100-square yard bungalow for Rs 160 crore in February 2023.
