Mankind Pharma Chairman's wife sells South Delhi bungalow for ₹91 crore days after tax raid

Big ticket sales including a penthouse in Malabar hill and flats worth more than Rs 1,200 crore in Worli, put the spotlight on rising luxury real estate sales in Mumbai. But as the country clocked a 151 per cent surge in sales of high-end properties, the national capital Delhi and surrounding parts clocked a rise of more than 200 per cent.

Days after former AG Mukul Rohatgi's wife bought a Rs 160 crore home in Delhi's Golf Links locality, the wife of Mankind Pharma Chairman Ramesh Juneja has sold a Rs 91 crore bungalow in Vasant Vihar.

Sale made after stock market debut

• The property sold by Poonam Juneja was purchased by the Malhotra family behind Everest Pressure and Vacuum Systems.

• The sale came days after Mankind Pharma's Initial Public Offering, and an income tax raid at the firm's premises in Delhi.

• The buyers had to pay Rs 4.85 as stamp duty to seal the deal, which was facilitated by Christie's Real Estate.

Cashing in on investments

• Real estate sales are rising in Vasant Vihar as a lot of people are liquidating their assets, and those seeking properties that can be redeveloped are heading to South Delhi where they get more space.

• Apart from the Junejas, Relaxo Footwear's Ritesh Dua also sold a bungalow for Rs 70 crore in the same locality.