Reliance Industries Buys New Delhi Luxury Bungalow for 3.5 Billion Rupees

Reliance Industries Ltd. purchased a luxury bungalow on Prithviraj Road in the Lutyens Bungalow Zone of New Delhi for 3.5 billion rupees, or approximately $36.7 million, excluding taxes. The transaction was finalized in late July through Anant Ambani’s family office.

The property was sold by Bhupendra Modi, a businessman based in Singapore. A spokesperson for the company stated the acquisition will be used as a guest house for employees traveling to the capital.

The purchase comes during a period of increased demand for private real estate in the Lutyens Bungalow Zone. This high-security district is among the most expensive housing areas globally and is primarily occupied by billionaire industrialists and senior Indian government officials.