The World's Priciest Homes: New Delhi's Crumbling Bungalows

They're filled with musty bathrooms and peeling paint, and they're selling in the tens of millions of dollars. Jim Yardley examines New Delhi's real estate boom, which is driven by "ego, status and some unique distortions in India’s economy."

1 minute read

March 4, 2013, 5:00 AM PST

By Jonathan Nettler @nettsj


With perhaps only 10,000 properties total in the "leafiest, most prestigious section of the capital, known as Lutyens’ Delhi," which was designed by British architect, Edwin Lutyens, in the early 1900s, "the bungalows built nearly a century ago during the British Raj, are among the highest [priced] in the world," writes Yardley.

"Though India’s economy has cooled, the demand for property in elite areas remains so strong that even finding a house for sale is tricky: formal listings do not exist; prices usually circulate by word of mouth. Transactions often require some 'black' money, or stacks of cash paid under the table to avoid taxes."

"Not surprisingly, as Indian industrialists have amassed great fortunes in recent years, the temptation to buy into a zone where status is so nakedly demarcated and only a few hundred private properties exist has proved irresistible. Property values in the Lutyens’ bungalow zone, as well as in nearby neighborhoods, have appreciated steadily for many years but skyrocketed in the past decade."

Saturday, March 2, 2013 in The New York Times

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 2, 2025 - Diana Ionescu

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

White and purple sign for Slow Street in San Francisco, California with people crossing crosswalk.

San Francisco Suspends Traffic Calming Amidst Record Deaths

Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.

July 1, 2025 - KQED

Google street view of red brick multi-story power plant building in Pittsburgh, PA.

Defunct Pittsburgh Power Plant to Become Residential Tower

A decommissioned steam heat plant will be redeveloped into almost 100 affordable housing units.

July 4 - Pittsburgh Post-Gazette

Cyclist on protected bike lane in middle of street in Washington D.C. with Washington Monument obelisk visible in background.

Trump Prompts Restructuring of Transportation Research Board in “Unprecedented Overreach”

The TRB has eliminated more than half of its committees including those focused on climate, equity, and cities.

July 4 - Streetsblog USA

Blue and silver Amtrak train at small station.

Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train

The new service will operate morning and evening departures between Mobile and New Orleans.

July 3 - New Orleans City Business