KLJ Plasticizers acquires prime Delhi property for ₹111 crore

KLJ Plasticizers, one of the largest manufacturers of plasticizers and polymer compounds in south Asia, has bought a sprawling 2,000 sq yard bungalow in Vasant Vihar, for ₹111 crore, two people aware of the deal said.

The property has been sold by Birdie and Birdie realtors, a subsidiary of Fortis Healthcare. The buyer has paid ₹6.66 crore stamp duty to the state government.

Vasant Vihar and Shanti Niketan have emerged as preferred destinations for high net-worth individuals (HNIs) eyeing bungalows, due to the availability of large plots and fewer restrictions compared to Lutyens' Delhi.

Recently, Anil Gupta, chairman and managing director of cable and wire maker KEI Industries, bought a 2,000 sq yard property in Shanti Niketan for ₹140 crore.

"There have been many big-ticket transactions in high-profile locations during the pandemic," said Santhosh Kumar, vice chairman, Anarock Group. "Vasant Vihar is an upscale location that sees a lot of demand for luxury homes. This area is home to top industrialists and other HNIs, who have shown a very high preference for independent homes here."

KLJ did not respond to ET's email query until press time.