Mittal-Linked Firm Buys Rs 3.1 Billion Lutyens Bungalow

30 Sep 2025 CW Team

In one of the most expensive real estate deals of 2025 in Delhi NCR, Mumbai-based Gentex Merchants Pvt Ltd, a company linked to steel magnate Lakshmi Mittal, has purchased a 3,540-square yard bungalow on APJ Abdul Kalam Road (formerly Aurangzeb Road) in Lutyens’ Delhi for Rs 3.1 billion. Registration documents show the deal was finalised in June 2025, with the buyer also paying Rs 217 million in stamp duty.

The property, originally built in 1930, once belonged to the royal family of Alwar and was owned by Yashwant Singh, also known as Maharaj Kumar Yashwant Singh of Alwar. Singh had earlier this year acquired a bungalow in Delhi’s Golf Links for Rs 1 billion.

At 3,540 square yards, or 31,860 square feet, the price translates to Rs 875,000 per square yard. The buyer, Gentex Merchants Pvt Ltd, lists Surya Kumar Kanodia as one of its directors. While the company has not commented, Mittal also declined to respond. Notably, Mittal already owns a bungalow on Prithviraj Road in Lutyens’ Delhi.

Market observers said the deal highlights the continued demand for properties in Lutyens’ Delhi, where sprawling colonial-era bungalows are rare and highly valued. Despite strict renovation regulations, the zone remains a magnet for industrialists, business families, and global investors.

Recent transactions reflect this trend. Earlier in 2025, ChrysCapital partner Sanjay Kukreja and his wife, Shaveta Sharma, bought a Golf Links property for Rs 1.55 billion. Around the same time, Kusum Ansal, wife of Ansal Group’s promoter Sushil Ansal, sold a bungalow on Feroze Shah Road for Rs 2.41 billion to Gujarat-based Yatah Enterprise.

In late 2024, Sidhant Real Estate, backed by DLF chairman Rajiv Singh, purchased a Prithviraj Road bungalow for Rs 1.5 billion, while Rangoli Resorts, led by Sheela Foam executive chairman Rahul Gautam, acquired a Hailey Road property for Rs 1.65 billion.

Infrastructure Energy

09 Mar 2026

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..

Flender launches India’s largest wind gearbox test rig in Walajabad

Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the largest installation of its kind in India. The new facility is expected to strengthen the company’s manufacturing and testing capabilities while supporting the growing demands of the wind power sector in both domestic and global markets.The test rig was inaugurated on March 5 in the presence of Andreas Evertz, Group CEO, Flender; Lars Wiegemann, Vice President Wind Gears, Flender; and Vinod Shetty, CEO, Flender India, along with key industry customers and stakeholders.The insta..