The most surprising breaking news of the year 2016 is biggest Deal that settled for Rs. 435 crores. The news relates to the real estate. The biggest deal of the year for the property in Lutyens’ Delhi, the central part of the city! And the deal is between DLF’s chairman’s daughter and Managing Director of TDI Infracorp! This is the biggest deal of the year that settled down in Rs. 435 crores of rupees.
The bungalow located on a 4,925 sq. meter plot having a built up area of around 1,189 square meters was sold. The selling price of the deal is rs.8.8 lakh per square meter. Based on the current circle rates, the value comes around Rs. 383 crores. Ultimately the deal settled for Rs.435 crores. And do you know who the new owner of the bungalow is? It’s Renuka Talwar, the daughter of Mr. K P Singh, the chairman of DLF.
The bungalow was owned by Kamal Taneja, the managing director of the real estate developer TDI Infracorp. Located on the Prithvi Raj Road in Lutynes’s Delhi, the property is spread over more than a one acre. Located on a 4,925 sq. meter plot on the Prithvi Raj road, is the most prominent properties.
On the same road, and in the same locality, the previous big transaction was the purchase of a bungalow. That transaction was of Rs. 6.53 lakhs per square meter. The sold bungalow is standing on the plot of 2,650 square meterswith about 836 square meters of built up area. This bungalow was sold for Rs. 173 crores.
Renuka Talwar
Renuka Talwar is a daughter of the DLF chairman Mr. K P Singh. Mr. K. R Singh can be christened as the real estate baron of India. DLF, the Delhi Land And Finance is the largest commercial real estate developers in India. Renuka Talwar is the wife of G. S. Talwar. He is a Non-executive director of DLF. Renuka Talwar also hold 15.4 lakh shares, representing 0.09% stake in DLF as on 30 September 2016.
About The Property and the Properties Nearby
- The bungalow is located in the central part of Delhi on Prithvi Raj road Lutynes.
- It is spread over more than one acre. The Lutyens Bungalow Zone (LBZ) covers about 3,000 acres and is spared over 28.73 square kilometer.
- There are about 1,000 bungalows.
- Out of which 65 to 70 bungalows are for private use
- The rest bungalows are reserved for the government officials and the ministers.
Overall, the area is concerned with top-drawer identities and always possesses a great value in terms of money and kind.
According to the people those are familiar with the deal, she Renuka Talwar bought this property few months back. The deal was settled at a price higher than the circle rate.
Initially, the seller, Kamal Taneja, the managing director of real estate developer TDI Infracorp, was askining for Rs. 600crores. But the deal settled for about Rs.450 crore. In the same area, two properties are owned by DLF chairman K. P. Singh. And this, newly purchased property is for Rahul Talwar, the son of Renuka Talwar. Rahul Talwar is likely to reside in this property.
No doubt, this is the biggest deal for the posh central Delhi area! No major deals are seen in 2016 unlike this great deal!
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