New Delhi: Former Union Minister of UPA Kapil Sibal had to pay a princely rent of Rs. 16 lakh a month for a bungalow in Lutyen’s Delhi. The bungalow had built on a 1,250 square yard plot in Jor Bagh, overlooking the Safdarjung Tomb, is owned by Delhi-based businessman Siddharth Sareen, the brother-in law of Emaar MGF promoter Shravan Gupta.
Both Sibal and Sareen confirmed that they had signed an agreement for the house, but refused to reveal the contracted rent.
Sources closely associated with the deal said that Sareen had demanded Rs. 18 lakh for the bungalow, but settled for Rs. 16 lakh. Even at that price, this will be among the most expensive houses on rent in the city.
Sibal will soon vacate the government bungalow on Teen Murti Road and move to his new house by August 1.
The new residence of the former minister will also have an office for him to practice law. Kapil Sibal, is known to be one of India’s leading constitutional and corporate lawyers.
Meanwhile Sibal had stopped practicing law after becoming a minister in UPA government. Now the big question is from where Union Minister will pay the rent of this bungalow as he had left practicing for a decade ago and now he is not in power as he lost his seat this Lok Sabha election.
Bureau Report
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