Historic Delhi Bungalow Once Home to Nehru Commands Record ₹1,100 Crore Price Tag

A historic bungalow on Motilal Nehru Marg in Delhi, which once served as India's first Prime Minister Jawaharlal Nehru's initial official residence, is reportedly set to change hands in what could become the country's most expensive residential property transaction. The deal, valued at approximately ₹1,100 crore, represents a significant milestone in India's luxury real estate segment.

Property Details and Location Significance

The estate, previously known as 17 York Road, spans approximately 3.7 acres with a built-up area of around 24,000 square feet. Located within Delhi's prestigious Lutyens' Bungalow Zone premium villa areas, the property sits in one of India's most coveted real estate enclaves. The Lutyens' Zone encompasses around 28 square kilometers and houses approximately 3,000 bungalows, with only about 600 being privately owned by the country's elite.

Transaction Details and Parties Involved

Industry sources indicate that an unnamed industrialist from India's beverage sector has emerged as the buyer for this landmark property. The sellers are reported to be Raj Kumari Kackar and Bina Rani, who are described as descendants of a former Rajasthani royal family. The property was initially listed at ₹1,400 crore, but negotiations have reportedly settled at the ₹1,100 crore mark.

A public notice has been issued to invite any potential claimants within seven days before the transaction's completion, following standard legal procedures for high-value property transfers.

Market Impact and Industry Implications

Real estate experts suggest that this transaction could establish a new benchmark for luxury property markets in Delhi. The deal reflects the enduring appeal of properties with historical significance and architectural heritage among India's ultra-high-net-worth individuals.

The transaction comes at a time when Delhi's premium real estate market has shown resilience, with luxury property investments in Delhi-NCR attracting significant interest from wealthy buyers seeking exclusive addresses.

Due Diligence and Timeline

According to market sources, the due diligence process for this high-profile transaction has been ongoing for nearly a year. The deal is now reported to be in its final stages, with completion expected soon following the mandatory notice period.

This sale underscores the growing appetite for premium real estate investments across India, particularly properties that combine historical significance with prime location advantages.