Delhi: Sunder Nagar, one of the capital's prime locations, is once again making headlines with major real estate news. Well-known Delhi businessman Ashok Mittal has purchased a property in the area worth ₹65 crore. The bungalow is spread across a large 866 square yard plot.

According to real estate data firm CRE Matrix, the ground floor and basement (4,846.88 square feet) were purchased for ₹34 crore, while the first floor (3,118.62 square feet) was purchased for ₹31 crore. A total stamp duty of ₹4.55 crore was paid, bringing the total value of the property deal to ₹65 crore.

Sundar Nagar: Not just a place to live, but a status symbol

True to its name, Sunder Nagar is renowned for its greenery and beauty. Located close to Lutyens' Delhi, the area boasts landmarks of national importance: Parliament House, Rashtrapati Bhavan, the Supreme Court, the Purana Qila, the zoo, and Pragati Maidan.

Property prices in this area are sky-high due to the large plots, exquisite Old Delhi architecture, and limited supply, which keeps property demand high. Most bungalows are built on plots of 500 to 1,000 square yards or more, and new multi-story construction is prohibited.

Why is Sundar Nagar's real estate special?

Geographical Importance: Minutes access to major government offices, commercial hubs and railway stations.

Limited supply: New flats or large plots are rarely available.

Status Symbol: Big industrialists, corporate leaders, Supreme Court judges and old business families live here.

Safe and quiet: low density, wide streets, clean sidewalks, a lifestyle away from the noise.

Arts, Culture and Markets

Sunder Nagar is not only a residential area but also a cultural hub. Its markets are known for vintage and antique furniture, traditional handicrafts, and fine jewelry. With its art galleries and regular art exhibitions, it is also an important cultural center in Delhi.