Steel Magnate Lakshmi Mittal's Linked Firm Acquires Record ₹310 Crore Delhi Bungalow

A company associated with steel magnate Lakshmi Mittal has reportedly completed one of the year's most significant residential property transactions by purchasing a sprawling bungalow in Delhi's prestigious Lutyens' Zone for approximately ₹310 crore.

Gentex Merchants Secures Premium Address

Sources revealed that Gentex Merchants, the entity linked to billionaire industrialist Lakshmi Mittal, acquired the 3,540 square yard property located on APJ Abdul Kalam Road within Delhi's exclusive Lutyens' Bungalow Zone (LBZ). The transaction, which was registered in June 2025, involved a stamp duty payment of ₹21.7 crore.

The seller was identified as Yashwant Singh, a member of the royal family of Alwar in Rajasthan. Industry insiders noted that Singh had recently purchased an 867 square metre bungalow in Golf Links for around ₹100 crore, suggesting a strategic property portfolio restructuring.

Transaction Details at a Glance

Understanding India's Most Exclusive Neighbourhood

The Lutyens' Bungalow Zone continues to command record-breaking valuations as Delhi's most expensive residential area. Spanning 28 square kilometres in central Delhi, the zone houses approximately 3,000 bungalows, predominantly occupied by ministers, judges, and senior bureaucrats.

Property experts explained that roughly 600 bungalows within the zone are privately owned, typically by India's wealthiest families. The area, designed by British architect Edwin Lutyens between 1912 and 1930, represents the pinnacle of luxury real estate in the capital.

Market Dynamics and Ultra-High-Net-Worth Demand

This transaction reinforces the LBZ's reputation as India's ultimate trophy real estate market, where ownership transcends luxury to encompass prestige, legacy, and proximity to the country's political power corridors. Real estate analysts noted that Delhi-NCR's luxury housing market continues soaring despite high stamp duties and limited availability.

The deal highlights sustained demand among ultra-high-net-worth individuals for exclusive addresses in central Delhi. Similar high-value transactions have been observed recently, including Analjit Singh's ₹152 crore Lutyens bungalow transfer and other significant property movements in the area.

Market observers indicated that such deals underscore the LBZ's position as a preferred investment destination for India's business elite, particularly those seeking long-term asset appreciation and social status enhancement through prime real estate acquisition.