This neighborhood in Delhi is more expensive than ‘Manhattan’ to live in!
For those who have been living in Delhi and even for some who have just come here, the name Lutyens Delhi won’t sound so strange. Most of us know the place to be posh, for VVIPs etc. and sure it is all of that but what if we told you that it’s costlier than the costliest street in the world? Yes, some or in fact most of the houses located in the heart of the lush greenery of Lutyens Delhi cost more than that of Manhattan, New York.
Just to give you an idea, a bungalow in Prithviraj Road, one of the most expensive roads even within the Lutyens Delhi, was sold for Rs. 477 crore recently! Not just this, according to the experts, the deal was a steal considering the market rates in the area which are approximately 100 crores more than what was paid. Imagine that, a 477 crore purchase being termed as a steal deal!
Picture Credit: booking.com
At almost $1333 per square feet, one would expect the swankiest house full of architectural marvels and modern amenities. Well, not quite. As the houses in Lutyens Bungalow Zone (LBZ) come under heritage structures, one is not allowed to do any modifications to the built up area of the houses. Which is why if you were to travel in LBZ, the houses you will see would be far from modern marvels but that does not take away anything from the charm they hold among the elites.
In fact, if one were to look closely, they would realise that this restriction has only added to the sheen these properties have. Add to this the fact that there are very few of these houses actually available for sale-purchase. LBZ is spread across a span of 28.73 sq km, with about 3,000 bungalows, out of which only 650-700 are privately owned. The rest are reserved for ministers and government officials hence, they are never on the market.
So, next time you are in or around Central Delhi, be sure to take a walk on one of the roads in LBZ and cherish the royalty that comes from being in the most expensive neighbourhood in the world!