Overview

• The 17 Motilal Nehru Marg estate, once Jawaharlal Nehru’s first official residence, is in the final stage of a transaction reported at about Rs 1,100 crore.
• The property was initially marketed at roughly Rs 1,400 crore, with reports indicating a negotiated price about 20 percent lower.
• The purchaser has not been identified, with multiple outlets attributing the deal to a leading Indian industrialist from the beverage sector.
• The sellers are Rajkumari Kakkar and Bina Rani, descendants of a Rajasthani royal family, for a site spanning about 3.7 acres with roughly 24,000 sq ft of built-up area.
• If completed at the reported valuation, the sale would be among India’s largest residential deals in the tightly held Lutyens’ Bungalow Zone.