The Ruias sell their bungalow for Rs 100 crore
The Ruias who are the promoters of the Essar group have sold their bungalow in the Jor Bagh area or Delhi for about Rs 100 crore to the Supreme Court lawyer Rohit Tandon. This reflects the revival in the real estate activity in the much coveted part of the capital which also follows the advent of the new government. This also suggests that the property prices are rising in the NCR region.
The corporate lawyer owns a firm called T&T. He had previously set up Zeus Law Associates which he sold off earlier this year. According to the registration document, Essar properties sold the house on the 30th of June to Devlin Corp. Devin Corp is a company in which Tandon and his son Varun are directors.
The house stands across the road from the Safdarjung tomb and civil aviation ministry on the edge of the Lutyens Bungalow Zone (LBZ) was being used as a corporate office and guest house. The Ruias presently live in a 2.26 acre bungalow on Tees January Marg which is closely located to this location. The bungalow that they sold was not being used by them for personal purposes.
Source: The Economic Times
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