Realty major DLF’s chairman K. P. Singh’s daughter Renuka Talwar has bought a bungalow in central Delhi for about Rs.450 crore in her personal capacity.
The property, spread over more than one acre, is located on Prithviraj Road in Lutyens’ Delhi. It was sold by Kamal Taneja, managing director of realty firm TDI.
Ms. Talwar held 15.4 lakh shares, representing 0.09 per cent stake, in DLF as on September 30, 2016. Her husband G. S. Talwar is a non-executive director of the firm.
Sources said Ms. Talwar bought the property a few months back and at a price higher than the circle rate.
Tight-lipped
There were three to four buyers interested in the property. The seller was initially asking for Rs.600 crore but finally settled for about Rs.450 crore, sources added.
Both DLF and TDI did not comment on the deal.
Mr. Singh has two properties in Lutyens’ Delhi. Sources said that Ms. Talwar’s son Rahul Talwar is likely to reside in the property.
Prime location
“Although housing demand is sluggish, there will always be demand for these marquee assets as long as the expectation of both buyers and sellers match,” said JLL India CEO (Operations) Santosh Kumar. There have not been many transactions in Lutyens’ Delhi, spread over nearly 3,000 acres, as most of the houses are government bungalows, Mr. Kumar said.
— PTI
