The slowdown in the realty sector has not stopped India's rich from striking housing deals in Delhi ’s posh area at sky-rocketing prices. In the last two months, three high value transactions have been made worth Rs 300 crore in Central Delhi's elite Golf Links locality, where infrastructure major GMR, a prominent auto-dealer, former Prime Minister Mr. IK Gujral's son, Mr. Naresh Gujral and a politician have bought a house. GMR has bought a house over Rs 70 crore in the Golf Links from McDonald's India (north and east) Managing Director, Mr. Vikram Bakshi. In another deal, a prominent auto-dealer has bought a new house adjacent to the old one in Golf Links for around Rs 100 crore and Mr. Naresh Gujral has also bought a house in the same area. Another politician has bought a 575 sq yard house in Golf Links for around Rs 50 crore. "Limited availability of properties in the area and rising demand from rich-getting-richer clientele has resulted in such price appreciation," says Ms Shveta Jain, Associate Director (residential), Cushman & Wakefield. Lutyens' Delhi, which includes areas like Aurangzeb Road, Prithviraj Road, Mansingh Road, Shahjahan Road and the nearby posh localities of Chanakyapuri, Golf Links, Jor Bagh and Sunder Nagar have always been the most preferred locations for India’s rich and powerful.
19 June 2008 indianrealtynews.com
19 June 2008 indianrealtynews.com
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