Mittal-Linked Firm Buys Rs 3.1 Billion Lutyens Bungalow
Real Estate

Mittal-Linked Firm Buys Rs 3.1 Billion Lutyens Bungalow

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. 

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. 

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement