The CEO of Mahashian Di Hatti (MDH), Rajeev Gulati, has recently purchased a 355 square meter bungalow in Vasant Vihar, Delhi for a whopping ₹36 crore. This news was confirmed by three individuals familiar with the matter. Gulati, who is the son of the late founder Mahashay Dharampal Gulati, also paid ₹2.16 crore as stamp duty for the transaction. The sale deed was officially registered on August 23.
Despite the passing of the company’s founder in December 2020, Rajeev Gulati can still be seen in MDH’s latest advertising campaign. Interestingly, the brand has chosen not to replace its founder’s image on its packaging.
Vasant Vihar is a sought-after area in Delhi, particularly for families in search of independent bungalows. In this neighborhood, plots that are up to 2,000 square meters in size are in high demand. One advantage of larger plots in south Delhi is that buyers have the opportunity to redevelop the land and construct up to four floors, something that is not possible in Lutyens’ Delhi.
According to Yovesh Suri, the Luxury realty head at Corfac International, a network for independently owned commercial real estate firms, the Gulati family has been residing in the Vasant Vihar area for quite some time and has been eager to expand their property holdings.
As of now, MDH has not responded to ET’s query regarding this recent development.
Source: This information was obtained from an article published on ET’s website.