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Time of India
6 days ago
- Business
- Time of India
South Delhi plot resold for Rs 18 crore profit in six months
Akhil Wable , founder of DataforIndia , has acquired a 1,280-square yard plot in Vasant Vihar for Rs 113 crore from Eleannt Enterprises. The South Delhi-based real estate firm had purchased the plot for Rs 95 crore in January this year and paid Rs 6.65 crore in stamp duty. Explore courses from Top Institutes in Please select course: Select a Course Category Degree CXO Project Management Product Management PGDM Cybersecurity Data Science healthcare MCA MBA Management Artificial Intelligence Operations Management Others Leadership Data Analytics Digital Marketing others Design Thinking Public Policy Finance Technology Data Science Healthcare Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details Sources said the local authority is not granting permission to construct on the plot due to its proximity to the ridge area. ET had reported in May that Eleannt Enterprises had bought the plot in one of the costliest land deals in South Delhi. 'South Delhi has shown a considerable appetite for real estate. The fact that only a limited inventory comes into the market, especially from owners looking to monetise their assets, means they find both investors and end-users willing to pay a premium. This has led to unprecedented price appreciation. For example, transactions in Vasant Vihar currently are happening at around Rs 9–12 lakh per sq. yd,' said Ankur Jalan, CEO of Golden Growth Fund, a Category-II real estate-focused Alternative Investment Fund (AIF). Recently, Golden Growth Fund (GGF) acquired a land parcel in Neeti Bagh in South Delhi. The real estate potential of South Delhi, one of India's most upscale regions, is estimated at Rs 5.65 lakh crore. Around 18,446 plots are available across the 42 Category A, B, and C colonies in South Delhi, with sizes ranging from 125 square yards to 1,750 square yards. The average price ranges between Rs 6–15 lakh per square yard, data showed. The Municipal Corporation of Delhi (MCD) has classified all colonies in Delhi into eight categories—A, B, C, D, E, F, G, and H. Circle rates, property tax rates, and stamp duty charges for property registration are determined based on these categories. The most lucrative colonies, those under Categories A and B, are mostly located in South Delhi. Around 3,704 plots are available in the 13 Category A colonies, with sizes ranging from 200 sq. yd to 1,200 sq. yd. Approximately 12,720 plots are available in the 27 Category B colonies, with sizes ranging from 125 sq. yd to 1,750 sq. yd, according to the data. Category A and B colonies include Mayfair Garden, Panchsheel Park (N, S, and E Blocks), Sadhna Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chanakyapuri, Golf Links, Jor Bagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, Greater Kailash, Green Park, Gulmohar Park, and Niti Bagh, among others.
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Business Standard
20-06-2025
- Business
- Business Standard
Prices of South Delhi luxury independent floors up 105% in 3 yrs: Report
The prices of luxury independent-floor homes in certain South Delhi colonies have increased 64 per cent to 105 per cent in three years due to investments by high-net-worth individuals (HNIs), said a report on Friday. Category A colonies such as Mayfair Garden and Panchsheel Park represent places with the highest circle rates, according to the report by Golden Growth Fund, a real-estate-focused alternate investment fund (AIF). Category B comprises colonies like Andrews Ganj and Defence Colony – places where circle rates fall between the highest (Category A) and lower categories. In Category A colonies, the average price for a 2,500-square-feet floor increased almost 100 per cent in three years: from Rs 8-11 crore to Rs 16-22 crore. The price for a 6000-square-feet floor rose by 105 per cent: from Rs 18-22 crore to Rs 36-45 crore. In Category B colonies, the average price for a 2,500-square-feet floor grew 70 per cent: from Rs 5-6.5 crore to Rs 8.5-11 crore. A 3,200-square-feet floor's price increased 64 per cent: Rs 8-11 crore to Rs 13-18 crore. Ankur Jalan, chief executive officer of Golden Growth Fund, said South Delhi offers privacy and customised space to ultra-rich people like startup founders. 'South Delhi's connectivity to the office hubs in Gurugram and Noida and the airport adds to its appeal. The excellent return on investment is another factor that has added to the growing interest,' he said. Experts have said that HNIs, non-resident Indians and family offices, who earlier invested in local properties without the cushion of compliance and safety, are making investments in AIFs that invest in affluent colonies. Jalan said that with returns as high as 18 per cent to 20 per cent, AIFs have opened a new avenue for these investors. Golden Growth's report said South Delhi is one of India's most premium real estate markets, with per square feet rate in a Category A colony ranging between Rs 60,000 to Rs 90,000 and in Category B colony between Rs 36,000 to Rs 56,000 depending upon floor and colony. The fund previously said the redevelopment potential of South Delhi is worth Rs 5.65 trillion across 42 regulated colonies overseen by the Municipal Council of Delhi (MCD), with occupied and vacant plots in Category A and B colonies alone accounting for over Rs 5.35 trillion. Jalan said that while the real estate market is bullish, South Delhi stands out for consistent demand, reliable investment and substantial returns.
Hindustan Times
20-06-2025
- Business
- Hindustan Times
Prices of 6,000 sq ft luxury floors in South Delhi surge 105% in three years: Alternative Investment Fund
The price of luxury independent floors in South Delhi has risen as much as 105% in the last three years on the back of demand and investor interest, a report by an Alternative Investment Fund has said The price of luxury independent floors in South Delhi has risen as much as 105% in the last three years on the back of demand and investor interest, according to a report by Golden Growth Fund (GGF), a Category-II real estate focused Alternative Investment Fund (AIF). With growing interest from startup founders and businessmen, South Delhi has emerged as an end-user destination with privacy and customised space as primary needs of these ultra-rich habitants. Its connectivity to the office hubs in Gurugram and Noida; and the airport adds to its appeal, it said. According to the report, in Category-A colonies, between June 2022-June 2025, the average price for a 2500 sq. ft. floor has risen by approximately 100% from ₹8 to 11 crore to ₹16 to 22 crore while for a 6000 sq. ft. floor, the price has risen by 105% from ₹18 to 22 crore to ₹36 to 45 crore, it said. In Category-B colonies, between June 2022-June 2025, the average price for a 2500 sq. ft. floor has risen by approximately 70% from ₹5 to 6.5 crore to ₹8.5 to 11crore while for a 3200 sq. ft. floor, the price has risen by approximately 64% from ₹8 to 11 crore to ₹13 to 18 crore, it noted. 'South Delhi is today the most premium real estate market with per sq. ft. rate in a Category-A colony ranging between ₹60,000- ₹90,000 and in Category-B colony between ₹36,000- ₹56,000 depending upon floor and colony,' said Ankur Jalan, CEO, Golden Growth Fund. 'The return on investment is another factor that has added to the growing interest,' he said. In an earlier report, GGF said the redevelopment potential of South Delhi is worth ₹5.65 lakh crore across 42 MCD Regulated colonies with plots (occupied and vacant) in Category A and B colonies alone accounting for over ₹5.35 lakh crore. 'The real estate market in the last three years has been bullish. However, what separates South Delhi from the rest is the consistent demand, reliable and safe investment and substantial returns. Besides, it also boasts of safety of the asset against depreciation of capital,' Ankur Jalan said. Some of the Category-A and B colonies are Mayfair Garden, Panchsheel Park N Block, Panchsheel Park S and E Blocks, Sadhana Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chankyapuri, Golf Links, JorBagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, GK, Green Park, Gulmohar Park, Niti Bagh. Also Read: South Delhi bungalows gain on Lutyens' with airport connectivity and customization perks 'HNIs, NRIs and family offices, who earlier invested in local properties without the cushion of compliance and safety, are making investments in AIFs that invest in these colonies. With returns as high as 18-20% without the hassle of maintenance, AIFs have opened a new avenue for these investors, Jalan said. Golden Growth Fund is a category II Real Estate focussed Alternative Investment Fund (AIF), a unique financial vehicle specifically designed for real estate investments in South and Lutyens' Delhi, India's poshest colonies.
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Business Standard
29-05-2025
- Business
- Business Standard
Golden Growth, Grovy to fund Rs 180 cr in 3 housing project in South Delhi
Golden Growth Fund (GGF) and realty firm Grovy India will invest Rs 180 crore to develop three housing projects in South Delhi. The GGF is a category II real estate-focused Alternative Investment Fund (AIF), which invests in South Delhi projects. "The investment has been made in Anand Niketan and Neeti Bagh, while the third project, in another Category A colony in South Delhi, is expected to come up in the next four months," a company statement said. The cumulative area of the three projects is about 70,000 square feet. The construction on the project in Anand Niketan commenced in January 2025, while the same in Neeti Bagh will begin next month. The sales potential of the three projects is in the tune of approximately Rs 240 crore. Ankur Jalan, CEO of Golden Growth Fund, said, These investments in South Delhi reiterate our commitment to developing and delivering not just high-quality projects but also ensuring a safe and stable 20 per cent + IRR to our investors." The non-volatile nature of the South Delhi real estate market has led to increased investment, he added. South Delhi has around 18,500 privately owned residential plots, categorised as A, B, C and others by MCD, with a current market value of Rs 5.65 lakh crore, presenting a huge opportunity for project development. The average price of plots in Category A colonies range from Rs 7-15 lakh per square yard. while the average price in Category B colonies ranges from Rs 6-12 lakh per square yard. Golden Growth Fund launched a real estate-focused AIF in September 2024 with a commitment to raise Rs 400 crore to acquire land in South and Lutyens Delhi. Listed entity Grovy India Limited was established in 1985 and has since then developed and delivered over 100 luxury projects in South Delhi. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
