Flats for Rs 100 cr: DLF to launch India’s costliest project in Gurugram
Source: Business Standard
A living room with a view at DLF Camellias. The project has 429 units in 16 towers, with only one unit per floor and residences of 6,290-7,350 sq ft. It also has 14 penthouses
The Dahlias will include 400 residences, with a starting price of Rs 80,000 per square feet. The average ticket size of an apartment expected to be around Rs 100 crore, according to real estate consulting firm PropEquity.
The Camellias has consistently recorded some of the highest transaction prices in the NCR, with recent sales averaging between Rs 65,000 to Rs 85,000 per square foot. Unfurnished apartments are renting for a minimum of Rs 10.5 lakh per month, with furnished options commanding up to Rs 14 lakh. In February 2024, a 10,000 sq ft apartment at The Camellias was bought for Rs 95 crore by Smiti Agarwal, the wife of Hemant Agarwal, CMD of retail giant V-Bazaar.
Historically, only the poshest parts of Mumbai and Delhi have seen the highest real estate prices, exceeding Rs 1 lakh per square foot.
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Till date, the most expensive real estate project in India in terms of sales value has been the 360 West luxury real estate development in Mumbai’s Worli, developed by Oberoi Realty, said PropEquity.
The sales value of DLF The Dahlias is equivalent to the total sales value of Three Sixty West by Oberoi Realty in Mumbai, DLF Camellias in Gurugram and Naman Xana in Mumbai. The starting size of the apartment is 9500 sq.
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DLF The Dahlias will span across 17 acres and will comprise 29 floor towers, featuring approximately 400 super-luxury residences. -
These residences will range from 9,500 sq. ft. to 16,000 sq. ft., with an average size of 11,000 sq. ft. -
Prices will start at Rs 80,000 psqft with an average ticket price of roughly Rs 100 crore. -
The clubhouse is going to be approx 2,00,000 sq ft, twice the size of the one in Camellias
“With the launch of this much anticipated project, DLF is all set to usher new standards for luxury living in India by providing state-of-the-art amenities for its residents. DLF is set to make history in the Indian real estate with this project making it India’s largest and most expensive residential project ever to be built,” said Samir Jasuja, Founder and CEO of PropEquity.
Gurugram has overtaken Delhi and Mumbai, the two costliest real estate markets in the world.
(*) These are the sales realisation of each project by the developers over the period of years since launch. These are current and future sales realisation as some of the projects are not fully sold yet.
With strategic focus on NRI sales, DLF has seen NRI investments go up from 3% in FY 2020- 21 to 23% in FY 2023-24 and has also created a loyal clientele of the super-rich Indians living abroad and in NCR.
“It has also achieved this by ensuring great price appreciation in their super luxury projects, offering 7-star hospitality services to the residents and building these communities offering the best views possible of its world-renowned Golf Course in Gurugram. These projects also have huge clubhouses with world class amenities that dwarf 5-star hotels,” PropEquity said in a note.
DLF also holds a 25% market share in the ultra-luxury segment across India (properties with ticket price above Rs 25 crore) in the last 5 years.
First Published: Oct 10 2024 | 12:48 PM IST
