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Delhi's Golf Links sees another marquee deal as Innov8 founder Ritesh Malik buys ₹85 crore bungalow
Delhi’s bungalow deal: The Golf Links transaction adds to a string of marquee properties selling for ₹80 crore or more in recent years
In yet another rare bungalow transaction in Delhi's prestigious Golf Links, Ritesh Malik, founder of Innov8, purchased a 575 sq yd freehold bungalow for ₹85 crore. The transaction was facilitated by India Sotheby's International Realty.
India Sotheby's International Realty has confirmed it has an exclusive mandate for this asset and has successfully concluded the transaction. “We’re delighted to conclude yet another transaction in Golf Links and with such a dynamic entrepreneur, Ritesh Malik,” it said.
The buyer and the seller could not be reached for a comment
Sources said the new owner plans to demolish the existing structure, which is in a dilapidated condition, and redevelop the site into a 6,000-7,000 sq ft residence comprising a ground floor, first floor and a barsati, subject to applicable regulations.
Property experts said the biggest draw of Golf Links is the scarcity of freehold properties. "The rarest asset in Golf Links and the Lutyens' zone isn't just land, it's a freehold title. With only around 212 properties in Golf Links and just one or two homes typically available for sale at any point, prices are driven by intense competition among buyers rather than sellers," they said.
According to market experts, demand for bungalows in Lutyens' Delhi continues to outstrip supply. Many long-time owners are monetising their properties during their lifetime, while affluent entrepreneurs, industrialists and professionals continue to compete for the limited inventory.
Other bungalow deals in the Golf Links area
The transaction follows several marquee bungalow deals in Golf Links over the past few years.
In 2025, Yashwant Singh, a member of a Rajasthan royal family, purchased a bungalow in Golf Links for ₹100 crore. The property, spread over 588.97 sq m with a built-up area of 867.33 sq m, comprises a basement, ground floor, first floor, barsati and servant quarters.
Also Read: PE exec, non-profit founder wife buy swank Golf Links property for ₹155 crore
Earlier in 2025, Sanjay Kukreja, Chief Investment Officer at ChrysCapital Management Company, and his wife, Shaveta Sharma, CEO and Managing Director of Central Square Foundation, purchased a Golf Links bungalow for ₹155 crore, while the seller acquired another bungalow in the same locality for ₹78.5 crore.
Other notable transactions include Vasudha Rohatgi, wife of former Attorney General Mukul Rohatgi, purchasing a 2,160 sq yd bungalow for ₹160 crore in 2023; RateGain founder Bhanu Chopra buying a Golf Links bungalow for ₹127.5 crore the same year; and Dixon Technologies Chairman Sunil Vachani acquiring a 1,250 sq yd bungalow for ₹170 crore in 2021.
Beyond Golf Links, Delhi's trophy bungalow market has also witnessed activity in Sunder Nagar, where a 900 sq yd bungalow reportedly changed hands for nearly ₹100 crore in 2024, highlighting continued demand for ultra-premium residential assets despite their limited supply.
