DLF-backed Sidhant Real Estate buys a ₹150 crore bungalow in Lutyen’s Delhi; luxury housing demand surges across Delhi-NCR and key Indian cities.
DLF Group’s Major Property Acquisition in Lutyen’s Delhi
Sidhant Real Estate Developers & Services Pvt Ltd, backed by DLF chairman Rajiv Singh and his family, has made a significant acquisition in Lutyen’s Delhi. The firm purchased a luxurious bungalow on Prithviraj Road for ₹150 crore. According to data from CRE Matrix, the transaction was finalized on October 21, 2024, with a stamp duty payment of ₹10.50 crore.
The sprawling property, covering 1,839 square meters, was sold by Rangoli Resort Pvt Ltd, a company associated with Rahul Gautam, the executive chairman of Sheela Foam, which owns the popular Sleepwell brand. Despite the high-profile nature of this deal, DLF declined to comment on the transaction.
Another Prestigious Property Deal on Hailey Road
In addition to the Prithviraj Road purchase, another prominent transaction recently took place in New Delhi. Trinity Buildcon India Pvt Ltd sold a high-end property located at Hailey Road to Rangoli Resort Pvt Ltd for ₹165 crore. This deal was concluded on October 4, 2024, with a stamp duty payment of ₹11.55 crore.
The Hailey Road property spans 1,486 square meters and is situated in one of the capital’s most sought-after neighborhoods. Both transactions reflect the rising demand for premium real estate in Delhi’s elite circles.
The Growing Appeal of Luxury Real Estate in India
The recent property acquisitions are a testament to the robust growth of the luxury housing segment in India. Abhishek Kiran Gupta, CEO & Co-founder of CRE Matrix and IndexTap.com, emphasized that owning premium properties in locations like Lutyen’s Delhi is a symbol of luxury living in the country. He also noted that DLF Homes performed exceptionally well in 2024, with strong sales in Gurgaon. For the first time in history, Gurgaon’s luxury housing market outpaced Mumbai in terms of total sales volume.
CBRE reports that the demand for luxury homes priced at ₹4 crore and above has risen by an impressive 53% across India’s top seven cities in 2024. The Delhi-NCR region leads the market, with 10,500 luxury units sold this year, compared to 5,525 in 2023.
This surge is driven by affluent buyers and NRIs (Non-Resident Indians) looking for prime properties in Delhi-NCR and other metropolitan hubs. The increasing appetite for high-end real estate underlines the growing aspiration for luxury living in India.
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