News: Golden Growth Fund picks up 500 sq yard Gulmohar Park plot for luxury floors worth Rs 100 crore-30-03-2026
Golden Growth Fund (GGF), a category II real estate-focused Alternative Investment Fund for South Delhi, has acquired a 500 sq yard land parcel in Gulmohar Park. It plans ultra-luxury independent floors there with revenue potential of about Rs 100 crore. According to the company, this is the fund’s third South Delhi acquisition since its launch in September 2024, after Anand Niketan and Neeti Bagh, where construction is in full swing.
GGF CEO Ankur Jalan said the purchase fits the fund’s mandate to unlock the potential of one of South Delhi’s poshest colonies, known for greenery and a settled community. The company described Gulmohar Park as serene and well connected to reputed schools, hospitals, the airport and commercial hubs in South Delhi, Gurugram and Noida. Jalan said luxury floors in the area have risen nearly 20% in price over the past year, and enhanced FAR norms allow larger, more efficient homes, so owners are redeveloping both to upgrade for self-use and to earn higher rent.
The project sits on a 500 sq yard corner plot with about 20,000 sq ft of built-up area, using an FAR of 2.25 and with ample parking. It will have four residences, one per floor, of roughly 3,500 sq ft each. Grovy India Ltd, a listed developer that has completed more than 120 projects since 1985, will develop it.
The company statement said the Municipal Corporation of Delhi has grouped Delhi colonies into eight categories, A to H, which determine circle rates, property tax and stamp duty. About 18,500 plots are available across 42 category A and B colonies in South Delhi, with redevelopment potential of Rs 6.5 lakh crore.
Average prices of independent floors in category A colonies rose 25 to 34% in 2025. A 2,500 sq ft floor went from Rs 10-19 crore in 2024 to Rs 14-25 crore in 2025, and a 6,000 sq ft floor from Rs 19-45 crore to Rs 25-55 crore. In category B colonies prices rose 22 to 26%: a 2,500 sq ft floor from Rs 7-10 crore to Rs 9-12.5 crore, and a 3,200 sq ft floor from Rs 11-16 crore to Rs 14-19 crore.
