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In a strategic move reflecting a broader family business reorganisation, Analjit Singh, founder of Max Group, has transferred ownership of a prime 2,140-square-metre bungalow on APJ Abdul Kalam Road in Lutyens' Delhi to Vstar Ventures for INR 152 crore. Both entities are owned by Singh, with the transaction executed through Delhi Guest Houses Pvt Ltd. Sahil Vachani, Vice Chairman and Managing Director of Max Estates and Singh's son-in-law, represented Vstar Ventures in the deal. The transfer, which includes a stamp duty and corporation tax payment of INR 11.7 crore, is part of a previously disclosed family settlement and does not involve any listed entities within the Max Group.
Analjit Singh, the founder of Max Group, has recently executed an internal transfer of a prime 2,140-square-metre bungalow located on APJ Abdul Kalam Road in Lutyens' Delhi to Vstar Ventures for INR 152 crore. Both Delhi Guest Houses Pvt Ltd and Vstar Ventures, the entities involved in this transaction, are owned by Singh. Advertisement
Sahil Vachani, Vice Chairman and Managing Director of Max Estates and Singh's son-in-law, represented Vstar Ventures in the deal. Vachani and his wife, Tara Singh Vachani, Executive Chairperson of Antara Senior Living, are both directors in the company.
A spokesperson for Analjit Singh clarified that the transfer is part of an internal family reorganisation carried out pursuant to a family settlement previously disclosed earlier this year. The spokesperson emphasized that this is a private transaction, with none of the listed entities within the Max Group involved.
Earlier this year, Singh bought out estranged spouse Neelu Analjit Singh's 24.1% stake in his holding company as part of the same family settlement. Following this, he gained full ownership of Max Ventures and Investment Holding, which holds significant stakes in listed entities Max Financial, Max Estates, and Max India.
Documents accessed by The Economic Times indicate that INR 11.7 crore was paid as stamp duty and corporation tax for the transaction, which was registered earlier this month.
The Lutyens' Bungalow Zone (LBZ), spanning 28 square kilometres, houses around 3,000 bungalows, primarily occupied by ministers, judges, and senior government officials. Approximately 600 properties in the area are privately owned by some of India's wealthiest individuals. Designed by British architect Edwin Lutyens between 1912 and 1930, the LBZ remains one of the most exclusive and expensive real estate zones in the country.
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