Kamal Ghorui
If it happens, it will become one of the most royal residential property sales in the history of India’s capital! Maharaja Manujendra Shah of Tehri Garhwal (Uttarakhand) is reportedly planning to sell his grand 3.2-acre estate in Lutyens’ Bungalow Zone (LBZ), New Delhi, for a whopping ₹1,000 crore. Though the deal is in advanced stages of negotiation, the news has stirred interest among the real estate industry. Although Times of India did not get any official confirmation of this report, however as per reports in Magic Bricks and other media houses, this deal is under discussion.Let’s find out why such hype and 5 interesting facts:1) A trophy property in DelhiThe property in question is a historic bungalow. It is situated at 5 Bhagwan Das Road (Plot No. 5, Block No. 159). The bungalow is recognised worldwide as one of the most coveted residential properties in Delhi, spread across 12,950 square metres (3.2 acres). The bungalow is grand and stunning and has the classic character of Lutyens’ Delhi. It was designed in the early 20th century by the renowned British architect Edwin Lutyens.2) Iconic location in Lutyens’ DelhiSo those who don’t know, Lutyens’ Delhi covers about 28 sq km and has some 3,000 bungalows. These are all mostly owned by industrial richies, former royalty and senior government officials and diplomats. It’s a rare incident as very few of these properties ever show up on the real estate market. And that’s what makes the sale especially rare and newsworthy.3) Who is buying the property?Though the identity of the buyer is not yet public, media reports suggest that the prospective buyer is a Delhi-based entrepreneur who has a strong hold in the food and beverage (F&B) industry. Amid this transaction process, a leading law firm representing the buyer has issued a public notice. They have invited any individual or entity with claims regarding the property to submit proof in writing. It’s only a customary procedure in high-value real estate transactions. This is done to ensure clear titles and secure ownership.4) Royalty meets modern markets
PC: @oroyalarchives
The bungalow dates back centuries and has been associated with the Tehri Garhwal royal family. They belong from the Himalayan kingdom. Maharaja Manujendra Shah, who is the present head of the family since 2007, has not yet issued an official statement yet. The spokespeople for the Maharaja’s office has also not responded to requests for comment yet.5) A royal real estate dealIf concluded at the reported ₹1,000 crore valuation, this transaction would rank among the most expensive residential property ever sold in Lutyens’ Delhi. The reported sale of the royal bungalow only represents the allure of prime residential properties in Delhi. It shows how historic legacy, prime location and scarcity value shape one of India’s most exclusive property tales.Till then, all eyes in the real estate world are fixed on the royal deal.
