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Tuesday, December 20, 2016


DLF Ltd Boss' Daughter Ms. Renuka Talwar, Buys Bungalow Rs. 435 cr..!

Ms. Renuka Talwar, daughter of DLF chairman Mr. KP Singh, has acquired a bungalow on Prithviraj Road for  Rs.  435 crore in one of the biggest deals for a property in Lutyens' Delhi, according to people with knowledge of the matter.
The seller was Kamal Taneja, managing director of real estate developer TDI Infracorp. Located on a 4,925 square metre plot, the bungalow has a built-up area of around 1,189 square meter and was sold Rs. 8.8 lakh per square meter. Based on current cirforcle rates, its value is about Rs. 383 crore.
The last big transaction on Prithviraj Road was the purchase by Shahi Exports' Harish Ahuja of a 2,650 square meter plot with about 836 sq m of built-up area for Rs. 173 crore in September Rs. 6.53 lakh per square meter.
Talwar is married 2015 at  to GS Talwar, non-executive director at DLF. Her billionaire father already owns 2 bungalows on Dr. APJ Abdul Kalam Road in Lutyens' Delhi.
Taneja declined to comment.There was no response to questions sent to DLF & Talwar. The posh central Delhi area has not seen any major deal in 2016 year unlike last year.
“This year has been a little dull for Lutyens' Delhi area. There is a price mismatch happening between sellers and buyers,“ said Santhosh Kumar, CEO, operations, JLL India.
Among last year's deals were Dabur Group chairman emeritus VC Burman's purchase of a bungalow in Golf Links for Rs. 160 crore in December, while Subhash Chandra-promoted Essel Group bought a 2.8 acre property on Bhagwan Das Road for Rs. 304 crore.
Mr. Rajiv Rattan, co - founder of Indiabulls Group, purchased a 2,920 square yard bungalow on Amrita Shergill Marg for Rs. 220 crore in .September last year, while Kabul Chawla of real estate firm BPTP sold a 575 sq yard bungalow in Golf Links for `. 65 crore.
The Lutyens Bungalow Zone (LBZ) covers about 3,000 acres and spans 28.73 square km, with about 1,000 bungalows, out of which only 6570 are for private use, with the rest reserved for ministers and other government officials.

The ministry of urban development has proposed to reduce LBZ by 5.13 square kilometres, which would exclude eight neighbourhoods. Other businessmen who own homes in the zone include steel baron LN Mittal, businessman-turned-politician Naveen Jindal, Airtel boss Sunil Mittal, the Ruias of Essar, Malvinder and Shivinder Singh, Analjit Singh and Atul Punj.


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