South Delhi bungalows gain on Lutyens’ with airport connectivity and customization perks
Unlike Lutyens’ Delhi, South Delhi—buoyed by recent bungalow deals—offers more building flexibility and better access to Gurugram and the airport
Vineet Kapur, founder of skincare brand O3 Plus, and his wife Sonia Kapur recently purchased a bungalow in Delhi’s upscale Vasant Vihar for ₹72 crore. The property spans 800 square yards (approximately 663 sq m) and includes nearly two floors with a built-up area of 6,160 sq ft. According to registration documents accessed via CRE Matrix, the transaction was completed in early April, with ₹1.8 crore paid in stamp duty.

This deal reflects a broader shift in South Delhi’s luxury real estate market, which is seeing heightened interest from startup founders, business leaders, and industrialists. Once dominated by legacy families, premium neighbourhoods like Vasant Vihar are now attracting a new wave of end-users seeking privacy, space, and the flexibility that independent homes provide.
Unlike Lutyens’ Delhi, where strict heritage norms, limited plot availability, and redevelopment restrictions often limit buyer options, South Delhi offers greater freedom for customisation and construction. Its prime advantage lies in connectivity to Gurugram’s business districts and the International Airport, making it a preferred choice for professionals and high-net-worth individuals.
From founders to fortune: Bungalow deals reshape South Delhi
This logistical convenience makes it especially appealing to business professionals and corporate executives. In contrast, Central Delhi—while still prestigious—faces challenges such as stricter building regulations and a very limited inventory of independent homes. These constraints have prompted buyers to explore alternative locations that offer more freedom for structural customisation and redevelopment.
Also Read: Senior advocate Arun Kathpalia buys bungalow in Delhi’s posh Golf Links area for ₹69 crore
Anshuman Magazine, chairman and CEO, India, South-East Asia, Middle East & Africa, CBRE, told HT.com that there’s a significant surge in bungalow demand across Delhi, primarily driven by end-users. Post-COVID, there's been a notable shift, with a strong influx of startup founders, seasoned business people, and industrialists buying these properties.
“South Delhi is particularly attractive due to its superior connectivity to Gurgaon's office hubs and the airport. This logistical advantage makes it a prime choice for professionals and business owners. In contrast, bungalows in Central Delhi face tighter regulations on structural amendments and offer very limited availability, pushing buyers towards other districts that provide greater flexibility and more options. This trend underscores a strategic move by buyers seeking both luxury and practicality in their investments,” he said.
Vasant Vihar property deal reflects stable prices, premium market conditions
The recent ₹72 crore transaction in Vasant Vihar by the owner of O3 Plus cosmetics and his wife has been deemed reasonable by market experts. The price aligns with previous deals in the area, signalling a stable and maturing market for high-value properties. Experts note that these transactions are occurring at rates 15–20% above the official circle rates, reflecting strong demand and buyer confidence.
“Prices are in line with market conditions and are aligned with recent transactions in the vicinity in the last few months. What we’re seeing is a steady, well-informed demand for marquee residential plots—driven by limited supply and the enduring appeal of South Delhi’s most prestigious addresses,” said Amit Goyal, managing director, India Sotheby’s International Realty.
Scarcity drives value, but supply dynamics evolve
One of the key drivers of these valuations is the limited availability of large residential plots in prime neighbourhoods like Vasant Vihar. However, the locality continues to maintain a balanced demand-supply equation, aided by its expansive layout and evolving residential fabric. A notable trend is the redevelopment of single-family bungalows into low-rise apartments, which is gradually introducing new inventory while maintaining the exclusivity of the area.
“The limited availability of such plots contributes to driving valuations. However, Vasant Vihar continues to maintain a healthy balance of demand and supply, owing to the large size of the neighbourhood and its evolving residential landscape. Many single-family bungalows are being redeveloped into apartments for multiple families, which is helping to bring new inventory into the market while still preserving the area’s exclusivity,” Goyal said.
Vasant Vihar vs. Lutyens’ Delhi: A shift in buyer preferences
Traditionally, such high-value deals were largely confined to Lutyens’ Delhi and a handful of ultra-prime zones. Now, however, affluent buyers are increasingly willing to pay premium prices for plots in locations like Vasant Vihar—even when the specific plot may not boast the best view or positioning.
When benchmarked against Lutyens’ Delhi, where land prices typically range between ₹12–14 lakh per square yard, Vasant Vihar’s transaction, estimated at around ₹9 lakh per square yard, reflects robust value. In even more desirable pockets of the neighbourhood, similar plots could command a 15–20% premium, Goyal noted.
O3 Plus deal a ‘value deal’ in Vasant Vihar’s real estate market: Experts
A few real estate experts describe the recent property deal in Vasant Vihar as a “value buy” in a colony where prices can vary significantly based on micro-location. According to Rohit Chopra of SouthDelhiPrime.com, “The average price in Vasant Vihar ranges between ₹9–11 lakh per square yard, depending on the exact location within the colony. In this case, the transaction was done at approximately ₹9 lakh per square yard, indicating a strategic value-driven purchase.”
Chopra points out that the bungalow is located in what is considered an average pocket in Vasant Vihar. In this case, the buyer seems to have prioritised the overall address over micro-location advantages. “This property doesn’t face a park, isn’t on a premium stretch, and doesn’t boast a wide road or quiet surroundings. It’s not in one of the more sought-after clusters like A, B, E, or F blocks that command a 15–20% premium due to better positioning, road width, or park frontage,” he explains.
Interestingly, smaller plots—such as 400 sq yards—on wider roads or park-facing lanes have recently been quoted at a 20 to 25% higher price, purely because of their superior micro-location. “This deal was clearly about entering the Vasant Vihar market at a rational price. The buyer was looking for value, not necessarily the best street or view,” says Chopra.
Vasant Vihar’s real estate landscape
Vasant Vihar is one of South Delhi’s largest and most diverse residential colonies, with more than 1,500 plots and multiple access points. It hosts more than 10 schools and lies adjacent to two urban villages, contributing to a wide spectrum of pricing across its many blocks. "It’s similar to areas like Greater Kailash II or Safdarjung Enclave in that prices can vary significantly within the same colony," Chopra notes.
Other high-end property deals in the Vasant Vihar micro market
Just weeks earlier, Eleannt Enterprises acquired a 1,280 square yard plot in the same area for ₹95 crore. These marquee deals reflect a growing trend: a significant surge in bungalow demand in South Delhi, particularly from end-users.
In 2023, Poonam Juneja, a Director at Mankind Pharma and wife of Ramesh Juneja, the company's chairman, sold a bungalow in Delhi's Vasant Vihar for ₹91 crore.
In 2021, J C Chaudhry, founder of Aakash Educational Services Ltd (AESL), bought a 2,000-square-foot property in South Delhi’s Vasant Vihar for around ₹100 crore.
Ankur Jalan, CEO, Golden Growth Fund (GGF), a category II Real Estate-focused Alternative Investment Fund (AIF), told HT.com that "Vasant Vihar in South Delhi is amongst the most premier addresses in India and a favourite spot for HNIs looking for both bungalows and boutique apartments. The average land price in Vasant Vihar is approximately ₹10 lakh per sq. yd., with plot sizes ranging from 250 sq. yd. to 1200 sq. yd. available for potential real estate development. The low-to-no volatility in real estate prices, along with the tag of an iconic address, makes it highly sought-after."
Golden Growth Fund (GGF), a Category-II real estate-focused Alternative Investment Fund (AIF), recently announced the acquisition of a land parcel in the posh colony of Neeti Bagh in South Delhi and is eying a revenue of ₹100 crore through the sale of boutique apartments catering to HNIs/UHNIs. Golden Growth Fund launched a real estate-focused AIF in September 2024 with a commitment to raise ₹400 crore to acquire land in South and Lutyens Delhi.