by THO
Delhi-NCR’s uber luxury housing market is on a dream run. In the latest deal, a 10,000 sq ft apartment at The Camellias by DLF in Gurgaon’s posh Golf Course Road has sold for ₹95 crore, documents accessed by CRE Matrix showed.
The seller is a Singapore-based NRI who has sold the apartment to Smiti Agarwal, wife of Hemant Agarwal, CMD at V Bazaar Retail Pvt Ltd. Smiti Agarwal is director at Wesbok Lifestyle Pvt Ltd.
The stamp duty paid by the buyer amounts to ₹4.75 crore, the document showed.
The sale deed was registered in January, according to the document.
The apartment size is 10,813 sq ft and it comes with five car parkings, the document showed.
Hemant Agarwal did not comment on the deal.
Last year, a 11,000 sq ft apartment in the same housing complex by DLF was sold for ₹114 crore.
Also Read: Delhi-NCR’s real estate market: Here’s why rich Indians are lapping up luxury properties
The Camellias in Gurugram were sold by DLF as bare shell luxury housing units in 2014 at a rate of ₹22,500 per sq ft.
Real estate consultants active in Gurugram said that the deal has narrowed the price difference of properties in Delhi and Gurugram.
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Most apartment buyers in Gurugram are from south Delhi or central Delhi who have bought luxury apartments for a lifestyle upgrade after selling their bungalows in Delhi
Also Read: Luxury housing sales record 75% growth in 2023 on the back of robust demand: Report
“DLF phase 5, Gurugram has emerged as the preferred choice for startup founders, senior executives of MNCs, and businessmen, more so for people having their workplaces in and around Gurugram. One of best golf course along with unmatched amenities offered by DLF has attracted the wealthy buyers into this condominium and it now commands per square foot price at par with prime areas of Delhi and Mumbai,” said Amit Goyal, Managing Director, India Sotheby’s International Realty.
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Demand for ultra-luxury homes continues to rise with most high net worth individuals purchasing these properties for investment, personal use, or both. A recent report by Anarock shows 58 ultra-luxury homes priced above ₹40 crore were sold across seven major cities till November 2023, accumulating a total sales value of ₹4,063 crore. Mumbai led the way with 53 of these opulent properties.
Also Read: Real Estate trends: Five clinchers for a ₹100 crore property deal
Delhi-NCR recorded four deals for two ultra-luxury homes in Gurugram and two bungalows in Delhi. At least 12 deals in 2023 were worth over ₹100 crore each with 10 such deals in Mumbai and two in Delhi-NCR, the report said.
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