The buyer, Renu Khuller, who is a director at GlobalDent Aids, paid a stamp duty of around ₹3 crore for the property. The bungalow was sold by Bharat and Janak Garg to the director of the company that manufactures interdental brushes. This deal is considered one of the most expensive in the Nizamuddin East area, with a per square foot rate of approximately ₹62,000, noted Pradeep Prajapati, founder and CEO of Weathvisory Capital.

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The plot encompasses 873 square yards, and the bungalow itself boasts a total built-up area of 10,000 square feet, spanning the ground, first, and second floors. The transaction was registered on July 13, 2023.

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Delhi has seen several high-value property transactions in recent times, with owners looking to monetise their assets during their lifetimes. Many of these sellers are original allottees, often in their late 70s, who aim to sell their properties for succession planning without any stress or lien complications, as they are the original allottees. The decision to sell often depends on the offered price’s motivation factor, according to Rohit Chopra of Southdelhiprime.com.

Back in 2018 and 2019, two similar-sized properties in the Nizamuddin East area commanded prices of approximately ₹52 crore, according to local brokers as reported by Moneycontrol. This area is home to around 36 bungalows, each occupying 800 sq yards. In March of this year, Vasudha Rohatgi, the spouse of former Attorney General of India Mukul Rohatgi, acquired a 2,160-square-yard bungalow in Delhi’s Golf Links for a significant ₹160 crore.

Few years ago, Sunil Vachani, the chairman and managing director of Dixon Technologies, purchased a leafy 1,250-sq yard bungalow in Golf Links for ₹170 crore. Another property transaction took place in the Golf Links area in March, with a bungalow being sold for ₹42 crore. In February this year, Shailesh Arora, the director of Maxop Engineering, secured a 575-square-yard bungalow in Delhi’s Golf Links for ₹68.5 crore.

Updated: 30 Aug 2023, 02:02 PM IST