&w=1024&resize=1024,0&ssl=1 "100 Crore Apartments: DLF to launch India's costliest project in Gurugram | personal finances")
Living room with a view of DLF camellias. The project includes 429 apartments in 16 towers, with one unit per floor and living space ranging from 6,290 to 7,350 square feet. It also has 14 penthouses
DLF, India's largest real estate company by market capitalization, is set to launch the most expensive project in the history of the Indian real estate market – DLF The Dahlias, across the road from the existing Camellias on Golf Course Road in Gurugram.
Dahlia will have 400 residences, with prices starting from 80,000 rupees per square meter. According to consultancy firm PropEquity, the average purchase price of a flat is expected to be around Rs 100 crore.
At a sale price of Rs 34,000 crore, it is 2.5 times the value of Camellias and any other project in India, PropertyEquity says. The existing Camellias property, which is home to top Delhi NCR-based CEOs and high-net-worth individuals, was launched a decade ago at a price of Rs 22,500 per square meter (large area price) and is currently one of the most expensive apartment buildings in the country.
Camellias has consistently recorded the highest transaction prices in the NCR, with recent average sales ranging from R65,000 to R85,000 per square meter. The unique apartments can be rented for a minimum of Rs 10.5 lakh per month, with furnishing options up to Rs 14 lakh. In February 2024, Smiti Agarwal, wife of Hemant Agarwal, CMD of retail giant V-Bazar, purchased a 10,000 sq ft flat in Camellias for Rs 95 crore.
Historically, only the most developed parts of Mumbai and Delhi have seen the highest property prices, exceeding Rs 1 lakh per square foot.
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So far, the most expensive real estate project in India in terms of sales price is the luxury complex 360 West in Worli, Mumbai, developed by Oberoi Realty, Propequity reports.
The sale price of DLF The Dalias is equal to the combined sale price of Oberoi Realty in Mumbai, DLF Camellias in Gurugram and Three Sixty West in Naman Jana, Mumbai. The initial size of the apartment is 9,500 sq m.
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DLF Dalias will cover an area of 17 acres and will consist of 29 floors with approximately 400 super-luxury residences.
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These residences will range in size from 9,500 to 16,000 square feet, with an average size of 11,000 square feet.
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Prices will start from 80,000 sq ft and the average ticket price will be around Rs 100 crore.
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The clubhouse will have an area of approximately 2,00,000 square feet, which is twice the size of the one at Camellias
“With the launch of this much-awaited project, DLF aims to set new standards for luxury living in India by offering state-of-the-art amenities to its residents. With this project, DLF will make history in the Indian real estate market, making it the largest and costliest residential project in India,” said Sameer Jasuja, Founder and CEO, PropEquity.
Gurugram has overtaken Delhi and Mumbai, two of the world's most expensive real estate markets.
This is the sales implementation of each project by developers over the years since its premiere. These are current and future sales projects, as some projects have not been fully sold yet
With a strategic focus on NRI sales, DLF has seen its NRI investment increase from 3% in FY 2020-21 to 23% in FY 2023-24 and has built a loyal clientele of ultra-affluent Indians living abroad and in the NCR.
“It has also achieved this by developing these communities, ensuring the development of their high-value, super-luxury projects, providing residents with 7-star hospitality services and providing the best possible view of the world-famous Gurugram Golf Course. These projects also include clubhouses with extensive amenities and world-class 5-star Dwarf hotels,” PropEquity said in a note
Over the last 5 years, DLF has had a 25% market share in the ultra-luxury segment (properties with ticket prices above Rs 25 crore) across India. First publication: October 10, 2024 | 12:48
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