Latest news with #SouthDelhi-based
Time of India
5 days ago
- Business
- Time of India
Data for India founder buys plot in Vasant Vihar for Rs 113 crore
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 Finance Healthcare Artificial Intelligence Design Thinking Data Analytics Data Science healthcare Degree Data Science PGDM Leadership Others MBA Operations Management MCA Product Management Public Policy others Technology CXO Cybersecurity Digital Marketing Management Project Management Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined 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.
Time of India
5 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
20-05-2025
- Business
- Business Standard
O3+ Cosmetics founder Vineet Kapur buys Vasant Vihar bungalow for Rs 72 cr
In yet another high-value residential property deals of South Delhi, Vineet Kapur, founder of skincare brand O3+ Cosmetics, and his wife Sonia Kapur have purchased a sprawling bungalow in Vasant Vihar, one of Delhi's most exclusive addresses, for a whopping Rs 72 crore, according to property documents accessed by CRE Matrix - a real estate data analytics firm. According to official registration documents, the property — House No. F-9/6, Vasant Vihar — spans approximately 6,160 sq. ft. and was bought from Dilip Pathak. The transaction, registered on April 3, 2025, attracted a stamp duty of Rs 1.8 crore. Earlier this month, Eleannt Enterprises acquired a 1,280-square yard plot in Vasant Vihar for Rs 95 crore, highlighting the limited availability and high demand for land in the area, where builders seek plots for constructing multi-story buildings. Additionally the South Delhi-based real estate firm paid Rs 6.65 crore to the tax authorities through stamp duty and corporation taxes. The Vasant Vihar area has long been a magnet for high-net-worth individuals, business leaders, and diplomats. Real estate transactions above Rs 50 crore are increasingly rare, making this deal notable in both value and profile. Finding a plot in South Delhi is rare and multiple builders are always on the lookout for such plots to construct four floors and sell them independently. Earlier this year, Golden Growth Fund (GGF) acquired a Neeti Bagh land parcel in South Delhi where the development potential would generate Rs. 100 crore from boutique apartment sales targeting HNIs/UHNIs. South Delhi has around 18,500 privately owned residential plots, categorised as A, B, C and others by MCD, with 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 sq. yd. while the average price in Category B colonies range from Rs 6-12 lakh per sq. yd. Launched in 2005 by cosmetology expert and entrepreneur Vineet Kapur, O3+ has grown from a single professional skincare line into a thriving beauty powerhouse—all without a rupee of venture capital. As a fully bootstrapped brand, O3+ now houses over seven independent labels under its umbrella, offering targeted solutions for everything from acne to ageing. What sets it apart isn't just its cutting-edge, tech-led products or paraben-free, cruelty-free philosophy—it's the way it puts beauticians, not celebrities, at the heart of its brand.
Indian Express
10-05-2025
- Business
- Indian Express
Chartered accountant arrested for Rs 7.85-crore GST fraud in Delhi
Officials from the Central Goods and Services Tax Commissionerate Delhi South busted a large-scale GST Input Tax Credit (ITC) fraud involving a South Delhi-based chartered accountant. The accused is alleged to have fraudulently claimed ITC amounting to approximately Rs 7.85 crore by misusing more than 80 GST identification numbers (INs), mostly linked to the Palam and Dwarka areas of the capital. The investigation revealed that the CA used his own email addresses and contact numbers to control these GST registrations. A group of 31 GSTINs was found to be engaged in circular trading without any actual supply of goods or services. 'Search proceedings were conducted at 12 premises, and multiple firms were found non-existent. During searches, several electronic devices relevant to the investigation were seized, and statements of the relevant people were recorded. Multiple taxpayers admitted to have been relying entirely on the Chartered Accountant for GST filings, with login credentials and filings centrally controlled by him,' said officials. The fraudulent activities fall under Sections 132(1)(b) and 132(1)(c) of the CGST Act, 2017. These are cognisable and non-bailable offences as per Section 132(5), and carry punishment under Section 132(1)(i) of the Act, said officials. The accused was arrested under Section 69(1) of the CGST Act, 2017, and presented before the duty magistrate on May 7. He has been remanded to judicial custody for 14 days, until May 21.
