Deepinder Goyal, the co-founder and CEO of Zomato, has recently entered the real estate domain with the acquisition of a prominent plot in Delhi’s Mehrauli for Rs.50 crore, as evidenced by documents from CRE Matrix. This strategic move not only underscores Goyal's interest in prime real estate but also emphasizes the growing popularity of Delhi's Mehrauli area among the elite.
Highlighting the substantial value of the land, the acquisition incurred a noteworthy stamp duty of Rs.3.50 crore. Spanning 2.53 acres in the village Dera Mandi within the Mehrauli tehsil, this freehold land offers a unique combination of expansive space and a prestigious location, establishing itself as a prized asset in Goyal's expanding portfolio.
This is not Goyal’s inaugural venture into the Mehrauli real estate market. In March 2023, he acquired a 2.5-acre land parcel from Luxalon Building Pvt Ltd for Rs.29 crore, signaling a sustained interest in this region. Goyal, an alumnus of IIT Delhi with a distinguished career that commenced at Bain & Company and later involved founding Zomato, continues to diversify his investment horizons.
Goyal’s investment aligns with a broader trend where 71% of affluent Indians express a keen interest in property investments over the next two years, with capital appreciation as the primary motivator, according to the Luxury Outlook Survey 2024 by India Sotheby’s International Realty (ISIR). This shift signifies a notable return of investors to the real estate market, seeking both luxury and long-term value.
In a parallel development, Peyush Bansal of Lenskart has also garnered attention with his acquisition of a residence in the upscale Neeti Bagh area of Delhi for Rs.18 crore, according to CRE Matrix documents. This transaction, completed on May 19, 2023, further illustrates the trend of tech entrepreneurs diversifying into luxury real estate, indicating a strong interest in high-end properties among India’s business elite.
Deepinder Goyal's recent venture in Mehrauli not only reflects his strategic investment approach but also aligns with the broader trend of luxury real estate emerging as a favored asset class among India's affluent. As the market evolves, the actions of influential figures like Goyal and Bansal are poised to inspire additional confidence and interest in high-end real estate investments.