A slice of Delhi’s political and architectural history may soon trade hands in what could be India’s most expensive residential property deal. The bungalow at 17 Motilal Nehru Marg — once Jawaharlal Nehru’s first official residence — is close to being sold for about ₹1,100 crore, according to The Economic Times.

Nestled in the capital’s ultra-exclusive Lutyens’ Bungalow Zone (LBZ), the nearly 15,000 sq m estate is being acquired by a leading domestic beverage baron from its current royal-descendant owners, marking a rare convergence of heritage, scarcity, and staggering valuation.

The sprawling estate lies in Delhi’s prized Lutyens’ Bungalow Zone and is being acquired by a leading businessman from the domestic beverage industry, according to a report by The Economic Times.

According to ET, the property is currently owned by Raj Kumari Kackar and Bina Rani, descendants of an erstwhile royal family from Rajasthan. They had initially sought around ₹1,400 crore, but talks appear to have settled at the lower ₹1,100 crore mark, still placing it among the country’s costliest residential transactions.

A law firm acting on behalf of the buyer has published a public notice, confirming that checks on ownership are in their final stages. The notice said: “Our client is desirous of acquiring residential property situated at Plot No. 5, Block No. 14, 17 Motilal Nehru Marg, New Delhi – measuring 14,973.383 sq m – and for the same, we are investigating the title of the current owners.”

It further called upon anyone with claims to the property to make themselves known within seven days.

The reported valuation of nearly ₹1,100 crore for Jawaharlal Nehru’s first Delhi residence reflects the convergence of history, law, and economics that makes properties in this zone among the most coveted in the country.

“The Lutyens’ Bungalow Zone is a tightly regulated enclave in the heart of New Delhi, originally designed during the colonial period, and today it houses the highest echelons of government, foreign embassies, and a select few private residences,” Harsh Kumar, Advocate at Jotwani Associates, said.

“It is precisely this exclusivity, combined with acute scarcity of available land, that drives prices to such extraordinary levels,” he added.

From a legal and regulatory standpoint, the LBZ is governed by strict zoning controls that prohibit high-density or high-rise development. Properties are large bungalows on expansive plots, with restrictions on subdivision and reconstruction. This ensures that supply remains fixed and extremely limited.

Unlike other parts of Delhi, where real estate has seen vertical growth, the LBZ retains its character of wide avenues, sprawling lawns and low-density construction — an environment impossible to replicate anywhere else in the capital.

“This regulated exclusivity translates directly into astronomical valuations,” Kumar explained.

Situated in the administrative and diplomatic heart of the country, LBZ properties enjoy proximity to the Rashtrapati Bhavan, Parliament, the Supreme Court, North and South Block, and major embassies.

“Ownership in this zone is not merely about luxury real estate; it carries with it a mark of prestige, privacy, and influence. For high-net-worth individuals, industrialists, and global investors, the address itself is a symbol of power and status,” Kumar said.