New Delhi, August 19, 2021: SIS Group, a market leader in security and facility management, has bought a pair of plots in Delhi’s posh locality, Sundar Nagar. The Group has bought the pair of sprawling 1734 square yard plots for around Rs 130 crore in one of the biggest residential transactions since the lockdown, a source close to the deal revealed. The deal is one of the costliest in Delhi and speaks about the demand for luxury properties in the post-pandemic scenario. The deal was registered in the name of the directors of the company, Mrs Pallavi Sinha, and Mrs. Rita Kishore Sinha.
The transaction advisor for this sale was Buniyad Group, a leading real estate services provider. Pair plot belonged to Dr. Ina Bhan and a renowned artist Mrs. Nilima Sheikh. “A transaction of this nature reiterates the high desirability quotient of locales in Central Delhi. Our client’s privacy is our priority, so we will not reveal the pricing. Even though this was one of the highest prices ever paid for plots in New Delhi in 2021. The market perked up post-April 2021, and we predict a large number of deals to close soon since the importance of having real estate property in central locations has shifted due to the pandemic’s consequences. People are buying properties for personal use, and as investment options due to the robust nature of real estate as against other investment tools,” says Ansh Batra, Director of Buniyad Group.
SIS provides security, facility management and cash logistics services and has emerged as a leader across these business segments in India and other geographies in the Asia Pacific region. Over the years, it has gained deep insights into key markets—India and Australia.
Sundar Nagar is a neighbourhood where restricted supply fuels exclusivity and where the ultra-rich are spending crores on smaller bungalows with little redevelopment potential. Experts predict that the shortage of houses or plots available for sale, along with rising demand, would keep prices here exceptionally high, even if rates in other parts of Delhi fluctuate.
Corporate Comm India (CCI Newswire)
