The Director of Maxop Engineering, Shailesh Arora, recently bought a plush property in one of the poshest areas of Delhi. He bought the Golf Links property for a hefty price tag of Rs 68.5 crore for the 575 sq yd bungalow.
Vaishnawi Energy Distribution Pvt Ltd, a company based in Delhi, acquired the property from Ambience Group promoter Raj Singh Gehlot for Rs 80 crore before selling it to Arora. A heavy stamp duty of Rs.14.11 crores was paid for the deal, according to paperwork obtained by CRE Matrix.
Over the past two years, several business leaders have bought homes in Delhi’s upscale neighbourhoods.
The Deputy Managing Director of the Dainik Bhaskar Group, Pawan Agarwal, also bought a 575 sq yd property in Golf Links, Delhi for a sum of Rs 75 crore.
Some people who bought bungalows in Golf Links after the pandemic include Vishwavir Ahuja, the former Chairman and Managing Director of RBL Bank, and Dixon Technologies’ Sunil Vachani.
According to the annual Luxury Outlook Survey 2023 by India Sotheby’s International Realty, more than 75% of high and extremely high net-worth individuals think real estate will perform well over the next two to three years, and a comparable amount (74%) thinks real estate is a crucial asset to hedge.
With 61% of HNIs and UHNIs looking to buy in 2023–24, real estate continues to be a desirable investment option. High-rise apartments are preferred by wealthy investors (34%), closely followed by farms and vacation residences (30%). Commercial real estate that generates rent is also in great demand, with 23% of HNI respondents interested in investing.
In Golf Links, sixteen bungalows were sold in 2020, the most in a single year since the epidemic, as demand for opulent homes with outside space soared due to the outbreak.
Golf Links has become a popular vacation spot for HNIs. The gated neighbourhood is adjacent to a number of tourist destinations and borders Delhi’s primary golf course.If reading up on luxurious property and browsing celeb homes sound like your cup of tea, do check out the ‘Celebrity Homes’ section at www.squareyards.com/blog for more such swoon-worthy properties.
