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Delhi’s Sundar Nagar is usually inhabited by the richest in the country. Most of the bungalows in the area are worth crores. One of the bungalows was recently sold for Rs 96 crore
A bungalow of about 900 square yards located in Sundar Nagar area has been sold for around Rs 100 crore. (News18 Delhi)
A bungalow of about 900 square yards located in Delhi’s Sundar Nagar area, a luxurious residential place has been sold for around Rs 100 crore. According to market sources, Sunil and Ravi Sachdev’s bungalow in Sundar Nagar has been sold for around Rs 96 crore. Sellers could not be reached for comments, while the CBRE did not comment on the deal.
According to a property broker, Sundar Nagar remains the preferred choice for the country’s top lawyers, judges, bureaucrats and businessmen.
The standard of living of people residing in this area is very high. Traffic congestion of the kind seen in other parts of Delhi is rarely experienced here. This is due to the presence of multiple entry and exit points in the area, along with broad, spacious roads.
Sunder Nagar, located at the centre of the city can be reached by metro, the nearest metro station being Pragati Maidan, on the Blue Line. One can reach Sundar Nagar by taking an auto-rickshaw or taxi. Several buses of the Delhi Transport Corporation (DTC) also ply in the areas around Sundar Nagar.
Sales of luxury properties have surged across major cities in the last few years. The national capital, especially South and Central Delhi, has also seen many large property deals. According to a report by CBRE (Coldwell Banker Richard Ellis) earlier this month, sales of luxury homes priced at Rs 4 crore and above in seven major cities increased by 38% in January-September this year.
Sales of luxury homes, costing Rs 4 crore and above, rose to 12,630 units in January-September 2024 compared to 9,165 units in the year-ago period.
CBRE noted that Delhi-NCR recorded the highest sales in this price bracket at 5,855 units against 3,410 units in the year-ago period.
Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa, CBRE, foresee heightened demand in the high-end and premium segments, with traditional mid-range markets like Noida, Bengaluru, Pune, and Chennai increasingly gravitating towards luxury developments.
“As the market shifts from bungalows to modern apartments and penthouses, the premiumisation of amenities will be a key differentiator in luxury projects,” Magazine added.
