The deal for the bungalow of India’s first Prime Minister Jawaharlal Nehru in Delhi is reportedly in its final stage. The stately bungalow is located at 17 Motilal Nehru Marg in central Delhi’s power-dense Lutyens Bungalow Zone. The deal is reportedly being touted as India’s largest-ever residential property transaction. The estate has fetched an unprecedented Rs 1,100 crore, Economic Times reported. The property was initially listed for Rs 1,400 crore.
Who is the new owner?
The property is spread across 3.7 acres and while the identity of the buyer remains undisclosed, reports claim that it is being bought by a leading Indian industrialist from the beverage sector.
The property was previously owned by the descendants of a Rajasthani royal family. Confirming the deal, the buyers’ legal representatives recently issued a public notice inviting any counterclaims. “Our clients are interested in purchasing this property (Plot No. 5, Block No. 14, 17 Motilal Nehru Marg). The current owners are Rajkumari Kakkar and Bina Rani. If anyone else has a claim or right over this property, they must inform us with valid documentation within seven days, or it will be presumed that no such claim exists,” the legal notice read.
Lutyens legacy
Named after British architect Edwin Lutyens, the Lutyens Bungalow Zone was conceived between 1912 and 1930 as the imperial core of Delhi. Today, it sprawls over 28 square kilometres with around 3,000 bungalows, most of which are government-allocated to ministers, judges, senior bureaucrats and diplomats. However, 600 private bungalows are reportedly owned by private individuals.
Once home to Nehru during the tumultuous early years of independent India, the bungalow is now part of an industrialist’s portfolio.