Former law and Telecom minister Kapil Sibal will shortly move to a luxurious residence in leafy Lutyens' Delhi, paying a rent of Rs 16 lakh a month. Currently Sibal stays in government bungalow on Teen Murti Road and move to his new house just before the lease commences on August 1.
The bungalow to which Sibal will move, built on a 1,250 square yard plot in Jor Bagh is owned by Delhi-based businessman Siddharth Sareen, the brother-in-law of Emaar MGF promoter Shravan Gupta. Apparently, Sareen had demanded Rs 18 lakh for the bungalow, but settled for Rs 16 lakh. Both Sibal and Sareen confirmed that they have signed an agreement but refused to reveal the contract details.
Sibal is India's well known constitutional and corporate Lawyer, he represents Birla's in case against Lodha and also for Pepsi. But Sibal had stopped practicing after becoming cabinet minister in the UPA government. Sibal now wants to restart his practice and will also allot a separate room in his new bungalow.