by THO
In the most expensive apartment deal in the country, an ultra-luxury penthouse with an area of 16,290 sq ft in DLF’s Camellias was sold for ₹190 crore.
Info-x Software Technology Pvt Ltd bought the penthouse through director Rishi Parti, documents accessed by IndexTap showed.
The deal was registered on December 2, and the company paid a stamp duty of ₹13.30 crore for it.
An email has been sent to DLF. The copy will be updated in case a response is received. The buyer could not be reached.
“When we talk luxury housing in India, it’s only Mumbai and Delhi NCR. Once again, the transaction reaffirms the same. 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 from flaunting their wealth; real estate continues to be the top investment and aspirations choice among the wealthy Indians,” said Abhishek Kiran Gupta, CEO and co-founder, CRE Matrix and IndexTap.com
Delhi and Mumbai are considered the most expensive cities in the country. Gurugram has overtaken Delhi and Mumbai in terms of price points and luxury offerings.
Also Read: 900 sq yard-bungalow in Delhi’s posh Sunder Nagar area sold for around ₹100 crore
In October 2023, an 11,000-square-foot apartment at The Camellias by DLF on Gurgaon’s Golf Course Road was sold for ₹114 crore in resale. The transaction was then compared with deals in New Delhi’s posh localities, among the country’s most expensive properties.
Does the deal set a benchmark?
DLF sold the Camellias in Gurgaon as bare-shell units in 2014 at ₹22,500 per sq. ft.
Real estate experts say that these high-value transactions in Gurgaon suggest that uber-luxurious homes are not just about brick-and-mortar but about the lifestyle and amenities. People are willing to pay a premium for the right neighbourhood with all the desirable facilities.
The sale of the ₹114 crore apartment in the project last year and the recent deal worth ₹190 crore show that the price is at par with that of a bungalow in a posh Delhi area. The poshest areas in Delhi include Sundar Nagar, Kautilya Marg, Malcha Marg, Golf Links and the Lutyens Bungalow Zone (LBZ). The LBZ is located in the heart of the national capital and is home to top politicians and wealthy entrepreneurs, said real estate brokers.
Construction in the LBZ is highly regulated because it is a designated heritage zone. There are strict height, floor area ratio and reconstruction norms.
DLF’s new ultra-luxury project, The Dahlias, is also located on the Golf Course Road in Gurugram. With all these projects coming up along Golf Course Road in Gurugram, currently known as North India billionaires’ row, is expected to compete with not only ultra-luxury properties in Mumbai’s Altamount Road and Delhi’s Lutyens that are primarily private residences but also with New York’s billionaires’ street located in the southern edge of Central Park, said real estate experts.
