Sanitary ware company Jaquar buys three farmhouses in South Delhi for Rs 235 crore
Brothers Rajesh Mehra and Ajay Mehra, directors of India’s premium sanitary ware company Jaquar, have bought three farmhouses in Delhi’s Westend Greens for around Rs 235 crore, three people aware of the deal said.
India’s premium sanitary ware company Jaquar has purchased three farmhouses in Delhi’s Westend Greens for around Rs 235 crore, three people aware of the deal said.
The farmhouses bought by the company are spread over 2.5 acres each.
Jaquar is promoted by Rajesh Mehra and Ajay Mehra, who entered Forbes India’s rich list in 2019.
Sprawling farmhouses in and across the nationwide capital are in demand with rich businessmen and executives searching for extra open areas after being home-bound throughout the Covid-19 disruption. Over 50 transactions for such properties have been closed in the previous six months, in contrast with a mean of two to three offers a month earlier than the Covid-19 outbreak, in accordance with property brokers in New Delhi.
“People are looking for open spaces and all the amenities within it so that they don’t have to step out even for outdoor games,” mentioned Amit Goyal, CEO-India at Sotheby’s International Realty. “They prefer wellness and that is why farmhouses have been in demand in the last 6-7 months. With the farmhouse, you get swimming pool, kids play area, space for yoga and other outdoor activities within the complex, while you may have to step outside for these things if you were living in a posh condominiums at a city centre.”
According to the brokers energetic in the area, about 300 farmhouses starting from Rs 10 crore to Rs 150 crore are on sale in areas equivalent to Westend Greens, Sultanpur, Pushpanjali, Vasant Kunj, DLF Chhattarpur, Radhey Mohan Drive and Ansal Satbari.
“Besides purchase, there has been demand for rental properties also, as a lot of people want to shift to a farmhouse temporarily. The rents range from Rs 2 lakh to Rs 15 lakh a month,” mentioned Pradeep Prajapati, head of luxurious residential service IQI India.
According to property consultants, the Green Development Area (GDA) Policy authorised by the Delhi Development Authority (DDA) will present an built-in framework for ‘green-oriented’ improvement in town and improve the availability of farmhouses in the capital.
The coverage goals to manage improvement in designated rural areas and inexperienced belts in town.
The draft coverage seeks to include the low density residential areas (LDRA) of the capital the place many of the farmhouses are positioned.
Encouraged by the expansion in demand, many builders are planning to provide you with gated colonies of farmhouses, the place each want of purchaser will likely be taken care of.
There are about 4,000 farmhouses in 18 villages in and round New Delhi, unfold over half an acre to 2.5 acres.
Farmhouses include extra than simply open areas. They have amenities equivalent to energy backup, swimming pool, tennis courtroom and house for different outside actions. Luxury farmhouses, equivalent to these in Westend Greens, can price as a lot as Rs 150 crore.
In satellite tv for pc cities farther from the Capital, there’s an abundance of farmhouses and obtainable farmland however because of the lack of credible builders, HNIs desire to take a position in Delhi.
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