A 16,290-square-foot ultra-luxury penthouse at DLF’s Camellias sold for ₹190 crore, the most expensive apartment purchase in the nation.
According to documents obtained by CREMatrix, Info-x Software Technology Pvt Ltd New Delhi, through its director Rishi Parti, purchased a 16,000 square foot penthouse at DLF’s ultra-luxury The Camellias in Gurugram for ₹190 crore. This was one of the most expensive apartment transactions in the nation.
The penthouse was one of the most expensive in the nation, costing 120,000 per square foot. The transaction demonstrates the expanding luxury real estate market in India, particularly in places like Delhi and Gurugram, where costs are now on line with those in upscale neighborhoods of Mumbai.
“Only Mumbai and Delhi NCR come to mind while discussing luxury housing in India.
The deal confirms this one more. Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and IndexTap.com, stated, “Real estate remains the top investment and aspiration choice among the wealthy Indians. Luxury housing transactions continue to stay buoyant, clearly indicating the wealth creation among corporate CXOs in the last 3–4 years; they are not shying away from flaunting their wealth.”
Mumbai and Delhi are regarded as the costliest cities in the nation. In terms of premium offerings and pricing points, Gurugram has surpassed both Delhi and Mumbai.
The company paid ₹13 crore in stamp duty for the transaction, which was registered on December 2. The documents were accessed by CRE Matrix, a real estate data analytics company.
A sales of an 11,000-square-foot property at The Camellias by DLF on Golf Course Road in Gurgaon brought ₹114 crore in October 2023. The transaction was then contrasted with sales of some of the most costly real estate in the nation, in the upscale neighborhoods of New Delhi.
Does the deal set a benchmark?
DLF sold the Camellias in Gurgaon as bare-shell units in 2014 at ₹22,500 per sq. ft.
According to real estate experts, these high-value purchases in Gurgaon indicate that ultra-luxurious properties are more about amenities and lifestyle than just real estate. People are prepared to spend more for a neighborhood that offers all the amenities they want.
The price is comparable to that of a bungalow in a posh district of Delhi, as evidenced by the sale of the ₹114 crore apartment in the project last year and the most recent agreement valued ₹190 crore. Sundar Nagar, Kautilya Marg, Malcha Marg, Golf Links, and the Lutyens Bungalow Zone (LBZ) are among Delhi’s most upscale neighborhoods. According to real estate agents, the LBZ is home to prominent politicians and affluent businesspeople and is situated in the center of the nation’s capital.
Because the LBZ is a recognized heritage zone, construction there is subject to strict regulations. Strict rules apply to rebuilding, floor area ratio, and height.
The Dahlias, DLF’s newest ultra-luxury development, is situated on Gurugram’s Golf Course Road as well. In addition to ultra-luxury properties in Mumbai’s Altamount Road and Delhi’s Lutyens, which are primarily private residences, all of these projects along Gurugram’s Golf Course Road, also known as North India billionaires’ row, are anticipated to compete with New York’s billionaires’ street, which is situated on the southern edge of Central Park, according to real estate experts.
JC Chaudhry, the founder of Aakash Educational Services, and Aman Gupta, the founder of BoAt, are two well-known individuals who own residences in The Camellias. Numerous other prosperous businesspeople have also purchased units in this exclusive development.