New Delhi: A huge property deal has taken place in Delhi. The property is none other than the first official residence of India’s first Prime Minister, Jawaharlal Nehru. It is located at 17 York Road, now known as Motilal Nehru Marg, in the heart of Lutyens’ Bungalow Zone (LBZ).
According to sources, the property has been sold for around Rs 1,100 crore. Earlier, the asking price was Rs 1,400 crore, but the final deal was done at a lower rate.
Who Is the Buyer?
The buyer is said to be a well-known businessman from India’s beverage industry. The name has not been made public yet. A top law firm is currently checking the legal details of the property, and this is the final stage of the deal.
The law firm also issued a public notice, saying their client wants to buy the bungalow. They asked anyone with a claim on the property to report within 7 days — or it will be assumed that no one else owns it.
Who Owns the Property Now?
The current owners are Rajkumari Kakkar and Beena Rani, who are related to a royal family from Rajasthan. The bungalow covers an area of around 14,973 square meters (about 3.7 acres) and has a built-up area of 24,000 square feet.
Why Is This Property So Special?
This bungalow is in Lutyens’ Delhi, the most expensive and powerful area in the capital. The area was designed by British architect Edwin Lutyens between 1912 and 1930.
Lutyens' Zone is about 28 sq. km wide, with around 3,000 bungalows. Most are government-owned, where ministers and judges live. But around 600 properties are privately owned, mostly by India’s richest families.
Because of the VIP location, huge land size, and historic value, only a few billionaires can afford this kind of real estate.
