Anil Gupta, promoter of KEI Industries Ltd, a housing wire and cable maker, has bought a property spread across 2,000 sq yards in Delhi’s posh Shanti Niketan area for Rs 140 crore, documents accessed by Zapkey.com showed.
The sale deed was executed on October 8, 2021.
A stamp duty of Rs 8.40 crore was paid on the deal by the buyer, the documents showed.
The property was bought from Sumant Dhamija and Dinesh Dhamija. The property was granted to Jagan Nath Dhamija in 1968 on a leasehold basis and was converted to freehold in 2000, the documents showed.
Anil Gupta confirmed the transaction to Moneycontrol and said that he plans to use it as his primary residence. A response from Dhamija is awaited.
Founded in 1968 as a partnership firm under the name Krishna Electrical Industries, the company was converted into a public limited company in 1992 and was listed on the stock exchanges in 1995. The firm makes different types of cables, house wires and stainless-steel wires at its manufacturing facilities in Bhiwadi, Chopanki, Pathredi and Silvassa.
The market cap of KEI industries is more than Rs 9,300 crore.
It is also involved in engineering, procurement, construction (EPC) work in the power distribution space. Some of its key clients include Power Grid Corp. of India, Tata Power Ltd, NTPC Ltd, Larsen and Toubro Ltd, Suzlon Energy Ltd, Mahindra Solar, Hindalco Industries Ltd, Sweden’s ABB Group and Indian Railways.
Dinesh Dhamija is a British Indian businessman and politician. He is the founder of the online travel firm Ebookers and was a member of the European Parliament for the London region and served for the liberal democrats.
Sumant Dhamija is a director on the board of several companies.
According to Sandeep Reddy, co-founder of Zapkey.com, over the last one year, the wealth of billionaires has touched record highs and some of it is spilling over into real estate leading to a surge in the purchase of super-luxury properties.
Rohit Chopra of Southdelhiprime.com said that a price of Rs 7 lakh per sq yard for this property in Shanti Niketan is a sign that momentum in the property market in Delhi’s posh areas is picking up.
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