In a deal poised to redefine India’s luxury real estate benchmarks, the iconic bungalow at 17 Motilal Nehru Marg—formerly York Road—is nearing sale forRs1,100 crore. The property, spread across 3.7 acres with 24,000 sq ft of built-up area, was the first official residence of Prime Minister Jawaharlal Nehru before he moved to Teen Murti Bhavan.
The current owners, Raj Kumari Kackar and Bina Rani, descendants of a Rajasthani royal family, had initially soughtRs1,400 crore. Negotiations have now settled atRs1,100 crore, with the buyer identified as a leading industrialist from India’s beverage sector.
A top-tier law firm representing the buyer has issued a public notice confirming that title due diligence is in its final stages. The notice calls on any claimants to the property to come forward within seven days, signaling that the transaction is close to completion.
Located in the ultra-exclusive Lutyens’ Bungalow Zone (LBZ)—a 28 sq km enclave designed by Sir Edwin Lutyens—the property is among only 600 privately held bungalows in a zone dominated by government residences and embassies. Its rarity, scale, and historical significance make it accessible only to India’s wealthiest elite.
“Given its prime location, VIP status and sheer scale, only a handful of billionaires can even consider purchasing such a property,” a person familiar with the deal told CNBC TV18.
If finalised, the sale will not only set a new price benchmark but also reaffirm the symbolic power of heritage real estate in Delhi’s elite circles. Experts say such transactions are rare, fiercely contested, and often years in the making.
