Golden Growth Fund (GGF), a category II real estate-focused Alternative Investment Fund (AIF) designed for South Delhi, acquired a land parcel measuring 500 sq yards in South Delhi’s Gulmohar Park area. The company plans to develop ultra-luxury independent floors on this land parcel with an estimated revenue potential of approximately ₹100 crore.
According to the company, this is the fund’s third acquisition in South Delhi since its launch in September 2024, after Anand Niketan and Neeti Bagh, where construction is on in full swing.
“Gulmohar Park is one of South Delhi’s most serene, green and elite residential areas. It is strategically located – in the midst of reputed neighbourhoods, accessible to world-class schools and hospitals, and seamless connectivity to the airport and commercial hubs in South Delhi, Gurugram and Noida,” according to the company statement.
“This acquisition in Gulmohar Park aligns with the Fund’s mandate to unlock the real estate potential of one of India’s poshest colonies in South Delhi. We remain steadfast in our commitment to expand our presence here with strategic acquisitions. Gulmohar Park is one of the most sought-after colonies, known for its green, serene surroundings and well-established community,” said Ankur Jalan, CEO, Golden Growth Fund.
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“Luxury floors in the area have witnessed nearly 20% price appreciation over the past year, making redevelopment an increasingly attractive option for homeowners. Enhanced FAR norms are enabling larger, more efficient living spaces along with the integration of modern amenities. As a result, landowners are not only upgrading to bigger homes for self-use but are also leveraging redevelopment opportunities to generate higher rental income,” Jalan said.
According to the company, the project is being developed on a 500 sq yards corner plot with a total built-up area of approximately 20,000 sq. ft., utilising a Floor Area Ration (FAR) of 2.25, and will include ample parking spaces.
“The project will feature four exclusive luxury residences, one on each floor, each spanning approximately 3,500 sq ft, designed for premium living. The units will offer state-of-the-art amenities, advanced security systems, world-class fittings, and thoughtfully planned spaces that balance privacy, exclusivity, and family living. The project will be developed by Grovy India Ltd, a listed real estate developer, which has completed more than 120 projects since its inception in 1985,” the company said in its statement.
South Delhi real estate market scenario
According to the company statement, the Municipal Corporation of Delhi (MCD) has divided all Delhi colonies into eight categories: A, B, C, D, E, F, G, and H. The circle rates, property tax rates and stamp duty charges for property registration are based on these categories.
“Approximately 18,500 plots are available across the 42 category A and B colonies in South Delhi. The redevelopment potential of these colonies stands at ₹6.5 lakh crore, presenting a huge opportunity for project development.
The average price of independent floors rose between 25-34% in Category-A South Delhi colonies in 2025. For a 2500 sq ft floor in category A colony, the average price has risen from ₹10-19 crore in 2024 to ₹14-25 crore in 2025. Similarly, for a 6000 sq ft floor, the price has risen from ₹19-45 crore in 2024 to ₹25-55 crore in 2025, the company said in the statement.
Similarly, the average price of independent floors in category-B South Delhi colonies rose between 22-26%. For a 2500 sq ft floor, the price has risen from ₹7-10 crore in 2024 to ₹9-12.5 crore in 2025. For a 3200 sq ft floor, the prices have risen from ₹11-16 crore in 2024 to ₹14-19 crore in 2025, the company said.
