Subhash Chandra's Delhi bungalow sold for Rs 1,260 crore

New Delhi: Essel Group chairman Subhash Chandra has agreed to sell a bungalow on Bhagwan Das Road in the national capital to a Delhi business family for ₹1,260 crore, in one of the costliest property deals in the country, two people familiar with the deal said. Chandra had purchased the property spread over 2.8 acres in 2015 for ₹304 crore.

"It was one of the most sought-after properties in Lutyens' Delhi and one of the few that carries a price tag of over ₹1,000 crore," said one of the people. "Deal formalities and the money transfer are to be completed on or before December 30, 2026."


Read more: DLF sells The Dahlias apartment to Madhusudan Kela for Rs 121 crore

Another nearby property, a bungalow on a 3.2-acre plot, is being sold for over ₹1,000 crore by Maharaja Manujendra Shah of Tehri Garhwal.

The buyer of the Tehri Garhwal property had also entered into an agreement to purchase the first official residence of former PM Jawaharlal Nehru on Motilal Nehru Road in the Lutyens' Bungalow Zone (LBZ) for more than ₹1,100 crore.

Read more: Godrej family buys two sea-facing luxury apartments in Worli for Rs 294 cr

Located in the heart of India's power corridor, the LBZ spans 28 sq km and houses around 3,000 bungalows, primarily occupied by ministers, judges and senior government officials. About 600 properties in the area are privately owned by some of India's wealthiest individuals. Designed by Edwin Lutyen, the LBZ remains one of the most exclusive and expensive real estate zones in the country.