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Maxop Engineering director Shailesh Arora Bought 575 sq. yards bungalow in Delhi golf links for ₹68.5 crore, two people familiar with the transaction told ET.
Arora bought the property from Delhi based Vaishnavi Energy Distribution Pvt Ltd, which bought it from Ambience Group promoter Raj Singh Gehlot for ₹80 crore.
According to documents accessed by CRE Matrix, Arora paid Rs 4.11 crore in stamp duty for the transaction, which was registered in December 2022.
India Sotheby’s International Realty, which represented both the parties in the transaction, declined to comment.
Machinery and equipment maker Maxop Engineering did not respond to an email sent by ET.
In the last two years, several corporate giants have bought properties in posh localities of Delhi.
Recently Pawan Agarwal, Deputy Managing Director of DB Group (Dainik Bhaskar) bought a 575 sq yard bungalow in Golf Links, Delhi for ₹75 crore.
Sunil Vachani is the chairman of Dixon Technologiesand Vishwaveer Ahuja, Former Chairman and Managing Director RBL BankThey are among those who have bought bungalows at Golf Links after the pandemic.
Over 75% of high net worth and ultra-high net worth individuals believe that real estate will do well over the next two to three years and a similar percentage (74%) believe that real estate inflation An important asset to defend against. Annual Luxury Outlook Survey 2023 by India Sotheby’s International Realty (ISIR).
Real estate continues to be an attractive investment option, with 61% HNIs and UHNIs looking to buy real estate in 2023-24. High-rise apartments (34%), followed by farmhouses and holiday homes (30%), are most preferred by affluent investors. Commercial real estate for rent is also in demand, as 23% of HNI respondents would like to invest in it.
Sixteen bungalows were sold at Golf Links in 2020, the highest in a single year in recent times, as the pandemic spurred demand for ultra-luxury properties with open spaces.
Golf Links has emerged as a preferred destination for HNIs. The gated colony adjacent to the main golf course in the heart of Delhi is also close to many hotspots of the capital.
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