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Fair Exports (India) Pvt Ltd, part of Lulu Group International, has purchased a premium bungalow in Delhi's Sunder Nagar for INR 89.5 crore. The deal involved a stamp duty payment of INR 6.26 crore and reflects steady demand for ultra-luxury homes in Lutyens Delhi. The seller was based overseas, which slightly delayed documentation. The locality has seen several high-value deals in recent years, including transactions above INR 100 crore. Demand from high-net-worth individuals continues, supported by both investment potential and end-use requirements.
Fair Exports (India) Pvt Ltd, a subsidiary of Lulu Group International, has acquired a luxury bungalow in Sunder Nagar, Delhi, for INR 89.5 crore, as per property registration records. The company, which is involved in exporting meat, fruits and vegetables, completed the transaction through its CEO, Najimudeen Ebrahimkutty. Advertisement
The transaction attracted a stamp duty payment of INR 6.26 crore, indicating the premium nature of properties in this area. The property was sold by Kuldeep Singh Lamba, who is based overseas. It was understood that the documentation process took additional time due to the seller's location, while the buyer had been evaluating options in Lutyens Delhi for some time before finalising this purchase.
Sunder Nagar continues to see strong demand for independent bungalows, mainly due to its central location, low-density layout and proximity to key areas such as India Gate and central business districts. The micro-market is part of Lutyens Delhi and is known for limited supply, which keeps property values firm.
Past transactions in the locality show a consistent rise in deal values. Senior advocate Gopal Subramanium had earlier acquired a bungalow spread over around 866 square yards for about INR 85 crore. In separate transactions, two plots in the same area were sold for nearly INR 130 crore each, setting higher benchmarks for the locality.
Market participants have indicated that a growing share of buyers in this segment includes entrepreneurs and startup founders who have recently unlocked wealth through stake sales. These buyers are actively investing in premium residential properties across cities such as Delhi, Mumbai, Goa and Alibaug, with a preference for ready or land parcels in prime locations.
Industry data also shows that high-net-worth and ultra-high-net-worth individuals remain confident about real estate as an asset class. Many of them expect returns of up to 15% annually, depending on location and holding period. Demand is largely driven by a mix of self-use and long-term investment, especially in established areas with limited new supply.
At the same time, while primary residential demand remains strong, there has been some moderation in demand for second homes due to rising prices and tighter supply in key markets. However, prime locations like Sunder Nagar continue to see steady interest due to their long-term value and exclusivity.
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