New Delhi: HCL chairman Shiv Nadar has bought a bungalow for his daughter Roshni Nadar in the Friends Colony East area of Delhi for Rs 115 crore.
The deal makes it one of the largest recent transactions in an area of Delhi outside of the Lutyens Bungalow Zone (LBZ), the Economic Times reported.
The 1,930-sq yard plot will be re-built into a sprawling mansion, fulfilling the requirements of his daughter Roshni Nadar and son-in-law Shikhar Neelkamal Malhotra, the paper reported.
The Delhi government in September hiked the circle rates -the minimum valuation at which properties have to be registered-by up to 20 per cent with an aim to check black money component in sale and purchase transactions.
As per the decision approved by Lt Governor Najeeb Jung, the circle rate has been increased to Rs 7.74 lakh per square metre of land from Rs 6.45 lakh in category A residential colonies like Friends Colony, Greater Kailash, Defence Colony, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and Hauz Khas.