Akhil Wable, founder of DataforIndia, has acquired a 1,280-square yard plot in Vasant Vihar for Rs 113 crore from Eleannt Enterprises.
The South Delhi-based real estate firm had purchased the plot for Rs 95 crore in January this year and paid Rs 6.65 crore in stamp duty.
Sources said the local authority is not granting permission to construct on the plot due to its proximity to the ridge area.
ET had reported in May that Eleannt Enterprises had bought the plot in one of the costliest land deals in South Delhi.
“South Delhi has shown a considerable appetite for real estate. The fact that only a limited inventory comes into the market, especially from owners looking to monetise their assets, means they find both investors and end-users willing to pay a premium. This has led to unprecedented price appreciation. For example, transactions in Vasant Vihar currently are happening at around Rs 9–12 lakh per sq. yd,” said Ankur Jalan, CEO of Golden Growth Fund, a Category-II real estate-focused Alternative Investment Fund (AIF).
Recently, Golden Growth Fund (GGF) acquired a land parcel in Neeti Bagh in South Delhi.
The real estate potential of South Delhi, one of India’s most upscale regions, is estimated at Rs 5.65 lakh crore.
Around 18,446 plots are available across the 42 Category A, B, and C colonies in South Delhi, with sizes ranging from 125 square yards to 1,750 square yards. The average price ranges between Rs 6–15 lakh per square yard, data showed.
The Municipal Corporation of Delhi (MCD) has classified all colonies in Delhi into eight categories—A, B, C, D, E, F, G, and H.
Circle rates, property tax rates, and stamp duty charges for property registration are determined based on these categories.
The most lucrative colonies, those under Categories A and B, are mostly located in South Delhi.
Around 3,704 plots are available in the 13 Category A colonies, with sizes ranging from 200 sq. yd to 1,200 sq. yd. Approximately 12,720 plots are available in the 27 Category B colonies, with sizes ranging from 125 sq. yd to 1,750 sq. yd, according to the data.
Category A and B colonies include Mayfair Garden, Panchsheel Park (N, S, and E Blocks), Sadhna Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chanakyapuri, Golf Links, Jor Bagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, Greater Kailash, Green Park, Gulmohar Park, and Niti Bagh, among others.
