Maxop Engineering's director buys bungalow in Delhi's Golf Links for Rs 68.5 crore

Maxop Engineering’s director buys bungalow in Delhi’s Golf Links for Rs 68.5 crore

Maxop Engineering director Shailesh Arora has purchased a 575-square yard bungalow in
Delhi’s Golf Links for 68.5 crore, two people familiar with the transaction told ET.
Arora purchased the property from Delhi-based Vaishnawi Energy Distribution Pvt Ltd, which
had acquired it from Raj Singh Gehlot, the promoter of the Ambience group, for 80 crore.
According to documents accessed by CRE Matrix, Arora paid 4.11 crore in stamp duty for the
transaction, which was registered in December 2022.
India Sotheby’s International Realty, which represented both parties in the transaction, declined
to comment.
Machinery and equipment maker Maxop Engineering did not respond to ET’s emailed query.
Over the last two years, several corporate honchos have bought properties in posh areas of
Delhi.
Recently, Pawan Agarwal, deputy managing director of DB Group (Dainik Bhaskar), bought a
575-square yard bungalow in Delhi’s Golf Links for 75 crore.
Sunil Vachani, chairman of Dixon Technologies, and Vishwavir Ahuja, former chairman and
managing director of RBL Bank, are among those who have bought bungalows in Golf Links
after the pandemic.
Over 75% of the high net worth and ultra-high net worth individuals believe real estate will do
well over the next two to three years and a similar percentage (74%) consider real estate is an
important asset to hedge against inflation, according to the annual Luxury Outlook Survey 2023
by India Sotheby’s International Realty (ISIR).
Real estate continues to remain an attractive investment option, with 61% of HNIs and UHNIs
looking to buy real estate in 2023-24. High-rise apartments (34%), closely followed by
farmhouses and holiday homes (30%) are among the most preferred by affluent investors. Rent
yielding commercial real estate is also in demand, as 23% of the HNI respondents would like to
invest in it.
Sixteen bungalows were sold in Golf Links in 2020, the most in a year in recent times, as the
pandemic increased demand for ultra-luxury properties with open spaces.
Golf Links has emerged as the preferred destination for HNIs. The gated colony, abutting the
main golf course in the heart of Delhi, is also near several hotspots in the capital.