New Delhi, July 31 -- Entrepreneur and investor Dr Ritesh Malik has purchased a bungalow in Golf Links, one of the most sought-after residential localities in Delhi's Lutyens' Bungalow Zone (LBZ), in a transaction facilitated by Sotheby's International Realty.
The acquisition marks Malik's entry into one of the capital's most exclusive neighbourhoods, traditionally home to established business families and diplomats. The purchase also reflects the growing presence of new-age entrepreneurs in the Lutyens' zone, following the success of India's startup ecosystem.
According to a statement, Malik plans to reconstruct the property before moving in, with the redevelopment expected to take around a year.
The statement said the deal builds on Malik's long association with Sotheby's International Realty, which dates back to the period when he was expanding Innov8 Coworking. Real estate also remains a key investment area for his family office, The Mangrove Holdings, which has invested alongside developers, including Max Estates, in projects across Noida and Gurugram.
Golf Links is considered one of the country's most prestigious residential addresses because of its low-density planning, central location, proximity to key government institutions and extensive green cover. The locality is home to several prominent industrial families and has also attracted entrepreneurs and public figures in recent years. A medical doctor by training, Malik founded Innov8 Coworking in 2015. The company expanded to over 60 locations before being acquired by SoftBank-backed OYO. Through The Mangrove Holdings, he has since invested in more than 125 startups across sectors.
Published by HT Digital Content Services with permission from Millennium Post.