Documents reviewed by CRE Matrix show Indiabulls Commercial Credit Ltd (IBCCL) bought a four-storey property in the luxury area of Anand Lok in Delhi from Sheela Gehlot, wife of Ambience Group promoter Raj Singh Gehlot for Rs 59.85 crore.

IBCCL is a wholly owned subsidiary of Indiabulls Housing Finance Ltd (IBHFL). Indiabulls Commercial Credit Ltd (IBCCL) bought a four-storey property in the luxury Anand Lok area of Delhi from Sheela Gehlot, wife of Ambience Group promoter Raj Singh Gehlot for Rs 598.5 crore, documents reviewed by CRE Matrix show. IBCCL is a wholly owned subsidiary of Indiabulls Housing Finance Ltd (IBHFL).

The ground floor of the property, covering 4,062 sq ft, was sold for Rs 15 crore with a stamp duty of Rs 90 lakh. The first floor of 3,909 sq ft was sold for Rs 14.85 crore with stamp duty; sales deed documents show Rs 89.1 lakh. Meanwhile, the 3,909 sq ft second floor was sold for Rs 150 crore with a stamp duty of Rs 9 million and the third floor was sold for Rs 15 crore with a stamp duty of Rs 90 lakh.

The deed of sale was registered on August 10, 2022. Neither representatives of the IBCCL nor Sheila Gallot’s son, Aman Gallot, responded.

Local agents say plots in the Anand Lok area range from 400 to 800 square metres to about 115 square metres. Most of them are priced between Rs 35 crore and Rs 65 crore, depending on the location. In this case, the price is closer to Rs 7.5-8 lakh per sq ft.