Realty major DLF's Chairman K P Singh's daughter Renuka Talwar has bought a bungalow in central Delhi for about Rs 450 crore in her personal capacity.
The property, spread over more than one acre, is located on Prithvi Raj Road in Lutyens' Delhi. It was sold by Kamal Taneja, Managing Director of realty firm TDI.
Renuka Talwar held 15.4 lakh shares, representing 0.09 per cent stake, in DLF as on September 30, 2016. Her husband G S Talwar is non-executive director of the company.
According to sources, Renuka Talwar bought this property few months back and at a price higher than the circle rate. Both DLF and TDI did not comment on this property deal.
There were three-four buyers interested in this property, sources said. The seller was initially asking for Rs 600 crore but finally settled for about Rs 450 crore, they added.
DLF Chairman K P Singh has two properties in the Lutyens' Delhi. Renuka Talwar's son Rahul Talwar is likely to reside in this property, sources said.
"Although housing demand is sluggish, there will always be demand for these marquee assets as long as the expectation of both buyers and sellers match," JLL India CEO (Operations) Santosh Kumar said.
There have not been many transactions in Lutyens' Delhi, spread over nearly 3,000 acres of mostly government bungalows, he added.
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