🏡 Lakshmi Mittal-Linked Firm Acquires ₹310 Crore Bungalow in Lutyens’ Delhi: A Landmark Real Estate Deal
In a significant development in Delhi’s luxury real estate market, Gentex Merchants Pvt Ltd, a company associated with steel magnate Lakshmi Mittal, has acquired a 3,540-square-yard bungalow on APJ Abdul Kalam Road (formerly Aurangzeb Road) in Lutyens’ Delhi for ₹310 crore. This transaction, registered in June 2025, stands as the most expensive property deal in Delhi NCR this year.
🏛️ A Glimpse into Lutyens’ Delhi
Lutyens’ Delhi, renowned for its colonial-era architecture and expansive green spaces, remains one of the most coveted locales for high-net-worth individuals and global business families. The Lutyens Bungalow Zone (LBZ) encompasses approximately 26 km², with less than 10% of its bungalows in private hands
💰 The Record-Breaking Deal
The bungalow, originally constructed in 1930, was previously owned by the erstwhile royal family of Alwar and was last held by Maharaj Kumar Yashwant Singh. The property measures 3,540 square yards (31,860 square feet), translating to a price of ₹8.75 lakh per square yard. The buyer paid a stamp duty of ₹21.70 crore for the transaction
🏢 Gentex Merchants Pvt Ltd: The Buyer
Gentex Merchants Pvt Ltd, based in Mumbai, is linked to Lakshmi Mittal, the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. The company’s involvement in this high-profile acquisition underscores the enduring appeal of Lutyens’ Delhi among industrialists and global business families.
🗣️ Insights from Sanjeev Singh, MD of SKJ Landbase
Sanjeev Singh, Founder and Managing Director of SKJ Landbase , offers valuable insights into this landmark deal. He emphasizes the strategic importance of location in real estate investments:
“Location is paramount. Properties in Lutyens’ Delhi not only offer historical significance but also promise long-term value appreciation. This acquisition by Gentex Merchants Pvt Ltd highlights the sustained demand for prime real estate in this prestigious enclave.”
🏙️ The Broader Real Estate Landscape
This acquisition is part of a series of high-profile property transactions in Lutyens’ Delhi. Earlier this year, ChrysCapital partner Sanjay Kukreja and his wife Shaveta Sharma purchased a property in the Golf Links area for ₹155 crore. Similarly, Rangoli Resorts, led by Sheela Foam executive chairman Rahul Gautam, acquired a bungalow on Hailey Road for ₹165 crore
These transactions reflect a growing trend of investments by industrialists and business families in central Delhi’s upscale properties, despite stringent construction and renovation regulations aimed at preserving the area’s unique character.
🧭 Investing in Lutyens’ Delhi: What You Need to Know
Investing in Lutyens’ Delhi requires a nuanced understanding of the market dynamics and regulatory landscape. Sanjeev Singh advises potential investors to consider the following factors:
- Historical Significance: Properties in Lutyens’ Delhi often come with rich historical backgrounds, adding to their allure and value.
- Regulatory Considerations: The LBZ has stringent construction and renovation regulations to preserve its colonial-era architecture. Investors must navigate these regulations carefully.
- Long-Term Value: Despite the high initial investment, properties in this area have shown consistent appreciation, making them attractive for long-term investments.
🏁 Conclusion
The ₹310 crore acquisition by Gentex Merchants Pvt Ltd marks a significant milestone in Delhi’s luxury real estate market. the strategic importance of such investments in maintaining the area’s status as a premier destination for high-net-worth individuals and global business families.
As the real estate landscape continues to evolve, Lutyens Delhi remains a testament to the enduring appeal of prime, heritage-rich properties in the heart of the national capital.
