Delhi most prime area land price is Rs. 100 crores to Rs. 300 crores per acre

The Lutyens Bungalow Zone – a 100-year-old neighbourhood in New Delhi – is perhaps India’s most elite residential location.

The Lutyens Bungalow Zone (LBZ) covers about 3,000 acres
and spans 28.73 sq km,
with about 1,000 bungalows,
out of which only 65-70 are for private use.
The rest are reserved for ministers and government officials.

Compared to some parts of east and Old Delhi, where approximately 1,100 to 1,600 people live per acre of space, the density in the bungalow zone is just 14-15 people because of the low-density development.

Renuka Talwar, daughter of DLF Chiarman, purchased about 1.2 acre with house in Lutyen's Delhi area for Rs. 435 crores (Rs. 350 crore per acre) - Dec 2016
- 4,925 square metre plot
- Bunglow has a built up area of 1,200 square metre
- Rs. 8.8 lakhs per square metre

Last big transaction on Prithviraj road (Rs. 100 crores per acre) - Sept 2015
- Purchase by Shahi Exports' Harish Ahuja for Rs. 173 crores
-  2,650 sq metres (about 1.5 acres) plot
- 800 sq metres built up
- Rs. 6.5 lakhs per sq metre

"This year has been a little dull year in Lutyen's Delhi area. There is a price mismatch between buyers and sellers." says CEO JLL India.

2015 deals in the area

- Dabur's chairman VC Burman purchased a bunglow in Golf Links for Rs. 160 crores (dec 2015)
- Essel Group (Subhash Chandra's) bought 2.8 acres on Bhagawan Das Road for Rs. 304 crores (Rs. 100 crores per acre). A similar property in Greater Kailash, another affluent neighbourhood in the capital, would cost at least Rs 100 crore less.
- Rajiv Rattan (Indiabulls group cofounder) purchased 2,920 square yards (about 60 cents) on Amrita Shergill Marg for Rs. 220 crores (Rs. 350 crores per acre)
- Kabul Chawla of BPTP realestate firm bought 575 sq yards for Rs. 65 crores (about Rs. 500 crores per acre)

Your note:

1. There are restrictions on building apartments in these areas. Otherwise, the prices could be much higher. Current rules do not allow for high-rise constructions, since the bungalows have a heritage value. If an old bungalow is to be reconstructed, it has to retain the height of the original structure. Lutyens Bungalows are usually six metres high.
2. Smaller plots command higher value (e.g. Kabul Chawla purchase above)
3. About 1,000 people per acre in densest parts of Old Delhi


http://economictimes.indiatimes.com/wealth/real-estate/dlf-boss-daughter-renuka-talwar-buys-bungalow-in-lutyens-bungalow-zone-for-rs-435-crore/articleshow/56055425.cms

http://scroll.in/article/754724/lutyens-delhi-may-be-about-to-change-for-good

http://www.hindustantimes.com/delhi/delhi-real-estate-boom-coming-as-lutyens-zone-set-to-shrink/story-u2bccMQBpBrxYXjteuIw0M.html