Zomato founder Goyal buys land in Delhi for Rs 79 cr

Zomato founder Deepinder Goyal has bought 5-acre land in Delhi’s Dera Mandi village for Rs 79 crore in two separate transactions.

According to documents accessed through CRE Matrix, a real estate data analytics firm, Goyal has bought first 2.5 acre for Rs 29 crore in March 2023 while the second 2.5 acre land is bought for Rs 50 crore in September 2023.

Many affluent Delhites have built farmhouses in these villages.

According to property experts, post Covid, there has been a spurt in demand for farmhouses and wealthy Indians have invested in this asset class.

Zomato did not respond to the email query.

According to a survey by India Sotheby’s International Realty (ISIR), 83% of affluent Indians own multiple luxury properties, reflecting a trend of diversified real estate portfolios among the elite.

Apart from primary residences, respondents showcased a diverse array of real estate assets, with 34% owning commercial real estate, 25% holiday homes, 21% agricultural land, and 20% farmhouses.

Earlier,JC Chaudhary, the founder of Aakash Educational Services Ltd had bought a 5-acre farmhouse in South Delhi for Rs 96 crore.

India’s premium sanitary ware company Jaquar had purchased three farmhouses in Delhi’s Westend Greens for around Rs 235 crore.

Industry experts said about 300 farmhouses ranging from Rs 10 crore to Rs 150 crore are on sale in areas such as Westend Greens, Sultanpur, Pushpanjali, Vasant Kunj, DLF Chhattarpur, Radhey Mohan Drive and Ansal Satbari.

Delhi is the only Indian city to have designated certain areas for farmhouses in its master plan. These areas are in clusters around Mehrauli, Panipat, Bijwasan, Rajokri and Chattarpur.

There are about 4,000 farmhouses in 18 villages in and around New Delhi, spread over half an acre to 2.5 acres each.

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Roy Walsh

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