A Reliance Industries Ltd. firm has completed the purchase of a prestigious bungalow in Lutyens Delhi for ₹3.5 billion ($36.7 million), excluding taxes. According to reports from NDTV, the transaction with Anant Ambani's family office was finalized towards the end of July. The property is located on Prithviraj Road in the exclusive Lutyens Bungalow Zone (LBZ).
Reliance Industries confirmed the acquisition through a spokesperson, stating that the property will be used as a guest house for employees traveling to Delhi. As reported by NDTV, the company did not respond to queries about the involvement of billionaire Mukesh Ambani's youngest son and the transaction value. The deal was confirmed by Bhupendra Modi, the Singaporean businessman who served as the seller.
The Lutyens Bungalow Zone has emerged as a highly sought-after luxury real estate destination, with demand surging for properties in this prized high-security area. According to NDTV, the zone houses the nation's prime minister, president, cabinet ministers and senior judges, making it one of the most expensive housing districts globally. The area spans 26 square kilometers in central Delhi and is home to other billionaire industrialists including Gautam Adani, Ravi Jaipuria, Lakshmi Mittal and Naveen Jindal.
Government restrictions limit the extent of renovations owners can carry out in the LBZ, which has defied property market corrections due to extremely tight supply of private bungalows. As reported by NDTV, the zone also features colonial-era social clubs such as the Delhi Gymkhana, which is currently embroiled in a legal dispute with the Indian government over lease cancellation. The area's exclusivity is further enhanced by its tree-lined green environment in the pollution-choked capital.
