Ansal Group Promoter’s Wife Sells Lutyens’ Bungalow for ₹241 Crore

Kusum Ansal, wife of real estate developer and Ansal Group promoter Sushil Ansal, has sold her bungalow on Feroze Shah Road in Lutyens’ Delhi for ₹241 crore. The sale is one of the most expensive real estate transactions in the country, surpassing several high-value deals recorded in Mumbai.

The bungalow, situated on a 6,364-square-yard plot, was sold at a rate of ₹200,000 per sq ft. The deal was facilitated by India Sotheby’s International Realty, which had the exclusive mandate to handle the transaction. While the firm declined to disclose financial details, records confirm that Gujarat-based Yatah Enterprises acquired the property. The buyer paid ₹17.56 crore in stamp duty and corporation tax as part of the registration process.

Ansal API, the real estate company associated with the Ansal family, has been under financial strain for some time. The company has been dealing with multiple legal and financial challenges, and a portion of the proceeds from the bungalow sale was used to settle dues owed to a lender.

According to Pranav Ansal, son of Sushil and Kusum Ansal, the transaction was executed by a lender under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act. This law allows banks and financial institutions to recover non-performing assets by selling mortgaged properties without requiring court intervention.

Lutyens’ Delhi is known for its prime real estate, housing some of the most expensive properties in the country. However, transactions of this scale are rare, making this sale particularly noteworthy. The property’s large size and location contributed to its high valuation.

In recent years, several prominent real estate deals have taken place in Lutyens’ Delhi, with buyers including industrialists, business tycoons, and corporate entities. However, the rate of ₹200,000 per sq ft is among the highest recorded, highlighting the premium nature of land in this area.

The sale also reflects the financial challenges faced by legacy real estate firms like Ansal API, which have struggled with liquidity and legal issues. Over the years, the group has developed several high-profile projects, but financial constraints have led to asset sales to meet debt obligations.

Ansal API has been involved in various legal disputes, including issues related to project delays and regulatory compliance. The financial stress on the company has led to lenders taking control of certain assets to recover dues. The sale of the Feroze Shah Road bungalow is part of a broader trend where real estate firms under financial pressure are divesting prime assets to manage debt.

Industry experts see this transaction as indicative of a shifting real estate market, where high-value assets continue to attract buyers despite broader economic uncertainties. The involvement of Yatah Enterprises, a Gujarat-based entity, also highlights the increasing interest of business groups from outside Delhi in acquiring prime real estate in the capital.