New Delhi: Lutyen’s Bungalow Zone (LBZ), a residential area exclusively for government officials and their administrative offices have noticed a tremendous increase in the housing prices. The demands have surpassed the supply of homes in this area. The cost of the bungalows have increased by 8-fold in past decade.New entrepreneurs and industrialists are aiming to buy homes in this locality. The rapid escalation in the economy in last few years has given the entrepreneurs an opportunity to invest in LBZ.Shortage of supply and colossal demand for the homes has led to the increment in property prices. Out of the total 1000 bungalows present in the zone only 65 bungalows are allocated for general public rest of them are owned by government. The bungalows are acquired by top politicians, bureaucrats, armed forces, officers and other high profile officials.With respect to the ever-increasing demand of the properties in this locality, most of the old families that are residing here for almost 4 to 5 decades are now planning to sell their British colonial residences at exorbitant prices. Some of the costliest deals are one of 8000-sq-yards plot at Tughlaq Road demanding for massive amount of Rs.700 crore while other of almost size is priced Rs.600 crore.With the view to this situation, even the government has come into action and is planning to use the lands of the government bungalows more efficiently. The government has redeveloped some of the bungalows. 19 bungalows were built on the land area of 4 to 5 acre of land now 16 more bungalows are going to be built on 1 to 1.5 acres of land each.займ на карту без отказов круглосуточновзять кредит онлайн