LUXURY REAL ESTATE : At the moment, DLF Camellias in Gurugram is the best example of a high-end real estate hub, setting standards for style and rarity around the world.
Luxury Real Estate – As of December 2024, record-breaking real estate deals at DLF’s Camellias building in Gurugram have been making news in India’s real estate market. This has made the city a clear winner in the ultra-luxury market, even more so than Mumbai.
Rishi Party, CEO of Info-X Software Technology, made a deal that got people all over the country’s attention. He paid a huge ₹190 crore for a penthouse in DLF Camellias that was 16,290 square feet and was listed at ₹1,80,000 per square foot. Camellias is now officially known as India’s most expensive high-rise building, thanks to this deal.
This deal not only showed how popular Gurugram is becoming, but it was also bigger than other big real estate deals across the country, like
- Two flats in Oberoi Three Sixty West, Worli, were bought by Great White Global for ₹225 crore.
- The founder of RR Kabel, ShriGopal Kabra, bought a 13,809-square-foot apartment on the 62nd floor of the same building for ₹198 crore.
- Three apartments in Lodha Malabar, Mumbai, are being bought by Asha Mukul Agarwal of Param Capital for ₹263 crore.
The founder of PropEquity, Samir Jasuja, said, “Gurugram has become India’s new luxury capital, ahead of Delhi and Mumbai.” People who run successful businesses and start-ups now prefer to live close to their jobs in Gurugram. The speaker also talked about how the city’s real estate market has changed over the years. He used the example of DLF Aralias, which was built 25 years ago and costs ₹1,800 per square foot. It paved the way for luxury landmarks like DLF Camellias, which costs ₹1,80,000 per square foot today.
Anarock, a real estate consulting firm, says that 25 ultra-luxury home deals worth more than ₹40 crore each took place in 2024 in cities like Mumbai, Hyderabad, Gurugram, and Bengaluru, for a total of ₹2,443 crore. Mumbai had the most deals, but Gurugram kept getting more attention.
Santosh Kumar, Vice Chairman of Anarock India, said, “Celebrity buyers and young entrepreneurs keep Mumbai at the top of the ultra-luxury market.” Gurugram has some great projects, like Camellias, but Mumbai is still the leader because of its prime sites and steady supply.
Rising wealth, a desire for luxurious lives, and big changes in cities are all driving the growth of super-luxury real estate. Experts think this trend will keep going until 2025, bringing more record-breaking deals and new styles to the public’s attention.