Gurgaon’s DLF Camellias sets record with ₹190 crore penthouse sale | Mint

Gurgaon DLF Camellias: A new benchmark has been set in the luxury real estate market with the recent sale of a penthouse in Gurgaon’s exclusive DLF Camellias, priced at an astounding ₹190 crore. This deal not only marks the highest price for a high-rise condominium in Delhi NCR but is also one of the largest in India, in terms of price per square foot.

The Record-Breaking Sale

The property, a sprawling 16,290-square-foot penthouse, was purchased by Info-x Software Tech Pvt Ltd through its director, Rishi Parti, reported Times of India.

According to official documents accessed by IndexTap, the company paid a stamp duty of ₹13 crore, and the transaction was officially registered on December 2, 2024, the report added.

‘Historic’ Price Per Square Foot

Samir Jasuja, CEO of Propequity, a real estate data analytics firm, highlighted the significance of this deal to Times of India, calling it the highest recorded price per square foot for a high-rise apartment in India. “This translates to a price of ₹1.2 lakh per square foot on super area and ₹1.8 lakh per square foot on carpet area,” Jasuja said. He further explained the comparison between Delhi NCR and Mumbai’s luxury markets.

While property prices in Delhi NCR are typically quoted on the super area basis, Mumbai’s high-end properties are priced on carpet area. Jasuja noted, “This Gurgaon deal is miles ahead of Mumbai pricing in carpet area terms,” emphasising the vast gap in price between the two markets. To put this into context, a previous record was set by a company buying three apartments in Mumbai’s Lodha Malabar for ₹263 crore, priced at ₹1.4 lakh per square foot (carpet area) last year.

Surge in Luxury Market in Delhi NCR

The sale in DLF Camellias also points to the ongoing surge in the luxury real estate market in Delhi NCR. Times of India quoted JLL, a leading real estate consultancy, Delhi NCR accounted for an impressive 64% share of luxury residential launches across India’s top seven cities in the first half of 2024. This surge is reflective of growing demand and a booming market for ultra-luxury homes in the region.

As the region sees increasing interest from high-net-worth individuals, Gurgaon continues to emerge as a prime destination for luxury residential projects, with DLF Camellias leading the way in setting new records for high-value real estate transactions.