Innov8 founder Ritesh Malik buys Golf Links bungalow for Rs 85 crore

Ritesh Malik, founder of co-working firm Innov8, which was acquired by Oyo, has bought a 575-square yard bungalow in Delhi's Golf Links for about Rs 85 crore, according to two people aware of the transaction.

The deal is the latest in a series of high-value residential transactions by corporate leaders in Delhi's upscale neighbourhoods, with Golf Links emerging as a preferred destination for entrepreneurs over the past two years.

India Sotheby's International Realty represented both the buyer and the seller and confirmed it had the exclusive mandate for the transaction.


“Golf Links has emerged as the preferred choice for entrepreneurs. Lutyens’ Delhi is always on the priority list for HNIs and we advise them for right location and size, helping them to ease the homebuying journey,” said Ashwin Chadha, CEO, India Sotheby’s International Realty.

The transaction was recently concluded at a valuation in line with prevailing rates in Golf Links, one of the most tightly held micro-markets in Lutyens' Delhi.

Malik, who currently lives in East Delhi, plans to redevelop the property before moving in.

“The location is in demand for its central position in the city, extremely limited supply of suitable properties, proximity to key government and administrative buildings, extensive greenery, and some of the lowest plot densities anywhere in Delhi's Lutyens’ Bungalow Zone,” said an executive.

Earlier, Pawan Agarwal, deputy managing director of DB Corp, publisher of Dainik Bhaskar, bought a 575-square yard bungalow in Golf Links for Rs 75 crore.

Agarwal and Malik join the likes of Sunil Vachani, chairman of Dixon Technologies, and Vishwavir Ahuja, former chairman and managing director of RBL Bank, who have acquired bungalows in Golf Links since the pandemic.

Vasudha Rohatgi, wife of former attorney general Mukul Rohatgi, also bought a 1,250-square yard bungalow in Golf Links for Rs 115 crore. It was her second purchase in the locality in as many years, after acquiring a 2,100-square yard bungalow there for Rs 160 crore in February 2023.