Rs 100 Crore Bungalow Sale in Delhi's Sunder Nagar

New Delhi, Oct 22 (PTI) Upscale residential colony Sunder Nagar in the national capital has witnessed a big-ticket deal with an around 900 square yard bungalow getting sold for nearly Rs 100 crore.

According to market sources, a bungalow at Sunder Nagar, owned by Sunil and Ravi Sachdev, has been sold for around Rs 96 crore.

Real estate consultant CBRE facilitated the sale of this bungalow.

Sellers could not be reached for comments, while the CBRE did not comment on the deal.

Bungalows in Sunder Nagar have become one of the sought-after residential addresses in central Delhi. Sunder Nagar remains a preferred choice for the country's top lawyers, judges, bureaucrats and businessmen, according to property brokers.

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.

Earlier this month, a CBRE report mentioned that sales of luxury homes, each priced Rs 4 crore and above, rose 38 per cent in January-September this year across seven major cities.

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.