Lutyens Zone’s real estate prices rolled up 10%

Private home owners from Lutyens in New Delhi are facing similar situations these days as landlords are doing in the rest of the country. Property prices in this super posh area have dropped by 10-15 per cent. In some cases, it is 25 per cent and even 50 per cent. Brokers told that before Corona, the property area had rs 75 crore to Rs 300 crore. Now, it is Rs 65 crore to Rs 270 crore.

Brokers said a Rs 500-crore bungalow on amrita shergil route will not pay more than Rs 350 crore in current conditions. A bungalow in Gold Link is priced at Rs 120 crore which was earlier Rs 150 crore.

Brokers also pointed out that buyers in the market for the past few years know that this is the best time to buy. They are fiercely bargaining with landlords and brokers. People buying a house for the first time also want a huge discount. Brokers said that there are currently about 30 bungalows and homes available for sale in Lutyens. In Lutyens, the industry is also home to many of the namesake. These include LN Mittal, Sunil Mittal, Naveen Jindal, Vijay Shekhar Sharma.