In the heart of India's bustling capital, amidst the urban landscape of New Delhi, lies a hidden oasis of luxury and exclusivity - the world of farmhouses. Recently, this realm has been witnessing a surge in interest and investment from affluent individuals, including notable figures like Zomato founder Deepinder Goyal and JC Chaudhary, the founder of Aakash Educational Services Ltd.
A recent revelation from real estate data analytics firm CRE Matrix sheds light on Deepinder Goyal's acquisition of a sprawling 5-acre land parcel in Delhi's Dera Mandi village. This transaction, totaling a staggering Rs 79 crore split across two separate deals in March and September 2023, underscores the growing allure of farmhouses among India's wealthy elite.
The allure of farmhouses extends beyond mere leisure retreats; it represents a strategic investment avenue, especially in the wake of the Covid-19 pandemic. With changing lifestyle preferences and a renewed focus on privacy and space, affluent Indians are increasingly diversifying their real estate portfolios to include farmhouses.
A survey conducted by India Sotheby’s International Realty (ISIR) reveals intriguing insights into the investment patterns of affluent Indians. Astonishingly, 83% of respondents reported owning multiple luxury properties, showcasing a growing trend of diversified real estate holdings among the elite. Apart from primary residences, these portfolios often include commercial real estate, holiday homes, agricultural land, and, notably, farmhouses.
Delhi's unique position as the only Indian city with designated areas for farmhouses in its master plan further catalyzes this trend. Clusters of farmhouses around Mehrauli, Panipat, Bijwasan, Rajokri, and Chattarpur offer an exclusive retreat from the city's hustle and bustle. Currently, approximately 4,000 farmhouses spread across 18 villages in and around New Delhi, ranging from half an acre to 2.5 acres each, cater to the discerning tastes of elite investors.
The allure of farmhouses is not confined to individual buyers. Corporates, too, are leveraging this trend to secure prestigious addresses for their business operations. Jaquar, India's premium sanitary ware company, recently made headlines with its acquisition of three farmhouses in Delhi's Westend Greens, signaling a strategic move towards integrating business and leisure spaces.
Industry experts estimate that around 300 farmhouses, with price tags ranging from Rs 10 crore to Rs 150 crore, are currently available for sale in coveted areas such as Westend Greens, Sultanpur, Pushpanjali, Vasant Kunj, DLF Chhattarpur, Radhey Mohan Drive, and Ansal Satbari. This burgeoning market reflects the evolving preferences and aspirations of India's affluent class, as they seek to invest in not just properties but lifestyle experiences.
In conclusion, the rise of farmhouses as a sought-after asset class in Delhi epitomizes the evolving landscape of luxury real estate in India. With notable figures like Deepinder Goyal leading the charge, this trend is poised to redefine the contours of elite living and investment in the years to come.
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