New Delhi: Tata housing group has bought a bungalow built over an area of 43,590 square foot for whooping Rs 218 crore. The sprawling bungalow is just half a kilometer away from Connaught Place in New Delhi. One Singh family is presently staying in the bungalow which is situated at Hailey Road connecting Barakhamba to Kasturba Gandhi Marg.

The real estate unit of Tata group has bought this bungalow from Singh family at the rate of Rs 50,046 per square foot. Shivdev Singh had bought this bungalow for the first time in 1927. He later sold it to another Singh family in 1970. However, this bungalow doesn’t fall in Lutyens zone, but still the location is sought after. A person associated with the deal said that the residing family members had lodged a case for partition in Delhi High Court. But, later on, they agreed on selling the property.

Speculation is rife that Tata housing is planning to demolish the bungalow to build a low-rise housing complex. It is worth mentioning that several private bungalows are existed on Hailey road and Kasturba Gandhi Marg. The people living in these bungalows over decades are willing to sell the hot property. But they can’t sell the bungalows due to restriction on new construction as they are nearer to historical heritage ‘Agrasen ki Baoli’.

JPN/Bureau

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