Lutyens’ Delhi, the capital’s most upscale and closely controlled real estate sector, remains invested heavily by high net-worth individuals (HNIs), business leaders, and political leaders. Famous for its large green belts and colonial bungalows, this elitist enclave continues to attract the country’s most powerful people despite strict building and renovation controls.
In a high-profile recent transaction, Sanjay Kukreja, a partner with private equity behemoth ChrysCapital, and his wife Shaveta Sharma, CEO of Central Square Foundation, purchased a top bungalow in the elite Golf Links area for Rs 155 crore. The couple shelled out Rs 9.3 crore in stamp duty, highlighting the property’s superior value.
New Elites Join Historic Address
Recent years have witnessed several marquee acquisitions in Lutyens’ Bungalow Zone (LBZ), highlighting a growing trend among India’s corporate and business elites to own a piece of Delhi’s heritage.
Prominent buyers include:
- Vasudha Rohatgi, wife of former Attorney General Mukul Rohatgi
- Siddhant Real Estate, a DLF Limited subsidiary
- Rangoli Resorts, led by Sheela Foam chairman Rahul Gautam
- Gujarat-based Yatah Enterprise
- Paytm founder, Vijay Shekhar Sharma
- Adani Group chairman Gautam Adani
Why this Place Remains Popular Among HNIs
For most, a bungalow in Lutyens’ Delhi is not so much a luxury investment as it is a symbol of status and a sign of influence in the power corridors of the country. With politicians of the highest ranks, bureaucrats, and industrialists as neighbors, the location comes with unparalleled prestige.
Renamed after British architect Edwin Lutyens, the LBZ consists of around 1,000 heritage bungalows, 65-70 of which are privately owned. Demand is sky-high despite regulations that are tight urban and bar commercial development in the area.
Top Places in Lutyens’ Delhi
Top-notch roads such as Prithviraj Road, Hailey Road, Amrita Shergill Marg, Aurangzeb Road, Ferozeshah Road, Tees January Marg, Motilal Nehru Marg, Sundar Nagar, Golf Links, and Kautilya Marg are particularly favourite with India’s upper crust.
Key Realty Transactions in Lutyens’ Delhi
- Rs 241 crore: Kusum Ansal sold a Feroze Shah Road bungalow to Yatah Enterprise.
- Rs 165 crore: Sheela Foam director Rahul Gautam bought a Hailey Road bungalow.
- Rs 150 crore: Rajiv Singh of DLF-funded Sidhant Real Estate purchased property in Prithviraj Road.
- Rs 160 crore: Vasudha Rohatgi purchased a bungalow at Golf Links in February 2023.
- Rs 127.5 crore: Bhanu Chopra, the founder of RateGain, purchased a bungalow in the same complex.
- Rs 68.5 crore: Shailesh Arora of Maxop Engineering acquired property in Golf Links in December 2022.
- Rs 137 crore: Aakash Educational Services’ Aakash Chaudhry purchased a Kautilya Marg bungalow.
- Rs 85 crore: Former Solicitor General Gopal Subramanium purchased a June 2022 Sunder Nagar bungalow.
- Rs 170 crore: Dixon Technologies CMD Sunil Vachani purchased a 2021 Golf Links bungalow.
- Rs 400 crore: Gautam Adani completed one of the priciest transactions close to Bhagwan Das Road in 2020.
- Rs 82 crore: Vijay Shekhar Sharma bought a Golf Links property in 2017.
The Lasting Prestige of Lutyens’ Delhi
As new real estate projects pop up all over India, Lutyens’ Delhi remains a special draw. For those who can afford it, an LBZ bungalow is not merely a house—it’s a legacy, a symbol of power, and a link to India’s colonial and political past. As the elite continue to snap up their share of this heritage area, the demand continues unabated.
