11 lakhs/sq.yd. Shanti Niketan records highest all-cheque deals

YC Deveshwar, chairman of ITC - the hotels-to-cigarettes group, has bought a bungalow in the tony Shanti Niketan area of south-central Delhi for around Rs 85 crore, making this possibly the most expensive home purchase in the country onb a sq.yard basis.

The deal, struck at a price of around Rs 10.62 lakh a square yard for the two-storied property built on an 800-sq yard plot of land, is also one of the most expensive in Delhi in terms of per sq yard rate.

All-white Transaction
Sources said that this is an all-cheque transaction, a rarity in Delhi's property market that regularly sees up to half the property's value paid in cash. In the last two years, Delhi has seen a number of all-white transactions.

Monnet Ispat chairman Sandeep Jajodia had also bought a 2,000 sq yard plot, three streets away from Deveshwars house, in an all-white deal The leafy Shanti Niketan, where senior bureaucrats built homes in the 1960s, has become a popular habitat for businessmen for its proximity to the airport and the Lutyens Bungalow zone.

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Posted on:  22-05-2014
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11 lakhs/sq.yd. Shanti Niketan records highest all-cheque deals

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Rs. 50 crore + ,
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