By
Faizan Haidar, ET Bureau
Delhi-based Vaishnawi Energy Distribution Pvt Ltd has acquired a 575 sq yard bungalow in Golf Links neighbourhood of New Delhi’s Lutyens Zone for ₹80 crore, three persons aware of the development said. Vaishnawi Energy is promoted by Ravinder Sindhu of Sindhu Traders.
The property belonged to Raj Singh Gehlot, promoter of the Ambience Group, who was recently arrested by Enforcement Directorate in a money laundering case, and transaction was concluded in the last week of July.
With 1.3 lakh sq ft, the deal is also one of the costliest in the county after the second Covid wave. Sixteen bungalows were sold in Golf Links in 2020, the highest in a year in recent times, as Covid increased demand for ultra-luxury properties with open spaces.
With 1.3 lakh sq ft, the deal is also one of the costliest in the county after the second Covid wave. Sixteen bungalows were sold in Golf Links in 2020, the highest in a year in recent times, as Covid increased demand for ultra-luxury properties with open spaces.
“Golf Links because of the gated colony and proximity to New Delhi areas has emerged as the preferred destination for HNIs. With bungalows of different sizes available, it has witnessed highest number of transactions and many others are also in the pipeline,” said Pradeep Prajapati, head of luxury residential services at IQI India.
Vaishnawi Energy Distribution did not respond to email query till the filing of the report while Gehlot’s family declined to comment.
South Delhi and Lutyens Bungalow Zone have registered the highest number of property registrations in three years through a Covid-ravaged FY21, with uber-rich investors buying assets in areas where demand usually outruns supply.
Vaishnawi Energy Distribution did not respond to email query till the filing of the report while Gehlot’s family declined to comment.
South Delhi and Lutyens Bungalow Zone have registered the highest number of property registrations in three years through a Covid-ravaged FY21, with uber-rich investors buying assets in areas where demand usually outruns supply.
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/vaishnawi-energy-buys-80-crore-property-in-delhi/articleshow/85381647.cms
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