Industrialist and head of sponge iron maker Monnet Ispat & Energy, 43 years Sandeep Jajodia has reportedly bought a house in a posh area of south Delhi for Rs 170.18 crore ($38 million) for his personal use. The price tag is huge and costed him nearly Rs 80,000 a square foot—for the bungalow built on a 2,000-square-yard plot in the Capital’s posh Shanti Niketan area.
He has also paid an additional stamp duty of Rs 10.21 crore for the property, a person familiar with the transaction said. The Jajodias can build up to 29,000 sq ft on the plot, including about 7,400 sq ft of basement space.
The property purchased by Jajodia had been sub-leased to the sellers, the Ghosh family, by the Government Servant’s Cooperative House Building Society in 1968 for Rs 72,000.
The deal has been part-financed by HDFC Bank to the tune of Rs. 100 crore reported ET.