Complexities and charm: What it takes to sell legacy properties in India

Navigating regulatory hurdles and historic preservation add layers to high-end real estate deals

In February, a sprawling bungalow in Lutyens’ Delhi came up for sale. It made news since properties in this highly coveted area of India’s capital do not often come on the block, and when they do, it takes time to find a buyer for them. Exclusive as it is, this property on Firozeshah Road is no different in this respect.

Over a month since Sotheby’s International Realty India put this bungalow of seven bedrooms, seven-plus-one bathrooms, a swimming pool and all on sale, the property remains “available” for discerning buyers. This is not unusual. Legacy properties that cost the sky