DLF Chairman purchases Lavish Bungalow in Delhi for Rs. 150 crore

Sidhant Real Estate, promoted by DLF Chairman Rajiv Singh and his family, has purchased a lavish bungalow on Prithviraj Road in Lutyens’ Delhi for Rs. 150 crore. In a separate transaction, Rangoli Resorts bought a bungalow on Hailey Road for Rs. 165 crore. The properties were listed with India Sotheby’s International Realty, although the firm declined to comment on the transactions. 

According to real estate data analytics firm CRE Matrix, Sidhant Real Estate paid a stamp duty of Rs. 10.5 crore for the Prithviraj Road property, while Rangoli Resorts paid Rs. 11.55 crore for the Hailey Road transaction. Both sales were registered in October last year. 

Sheela Foam, known for its Sleepwell brand of mattresses and comfort products, is linked to Rangoli Resorts, with Executive Chairman Rahul Gautam and his family as directors. Efforts to reach DLF and Sheela Foam for comment were also unsuccessful as of Thursday. 

The luxury real estate market in Delhi has seen several high-profile deals recently. Anurang Jain, Managing Director of Endurance Technologies, purchased a 1,350-square-yard bungalow on Kautilya Marg for Rs. 130 crore.

These sales highlight the continued demand for premium properties in Delhi’s exclusive Lutyens' zone, known for its elite clientele and exorbitant real estate prices.

Experts say demand for ultra-luxury properties remains high, with wealthy buyers willing to pay premium prices for prime locations like Lutyen’s Delhi, where properties are limited and highly sought after.