&w=1024&resize=1024,0&ssl=1 "100 crore apartments: DLF to launch India's most expensive project in Gurugram | personal finance")
A living room with a view of the DLF camellias. The project features 429 units across 16 towers, with just one unit per floor and 6,290-7,350 square feet of accommodation. It also has 14 covers
DLF, India's largest real estate agency in terms of market capitalization, is all set to launch the most expensive project in Indian real estate history – DLF The Dahlias, across the road from the existing Camellias on Golf Course Road in Gurugram.
Dahlia will have 400 homes, starting at Rs 80,000 per square foot. The average ticket price for an apartment should be around Rs 100 million, according to real estate consultancy PropEquity.
With a selling price of Rs 34,000 crore, it is 2.5 times the value of Camellias and any other project in India, PropertyEquity said. The existing Camellias, home to top Delhi NCR-based CEOs and high-net-worth individuals, was launched a decade ago at Rs 22,500 per square foot (super area price) and is currently one of the most expensive condominiums in the country.
Camellias have consistently recorded the highest transaction prices in NCR, with recent sales averaging between Rs 65,000 and Rs 85,000 per square foot. Unusual apartments rent for a minimum of Rs 10.5 lakh per month, with furnished options for up to Rs 14 lakh. In February 2024, a 10,000 square feet apartment in Camellias was purchased for Rs 95 million by Smiti Agarwal, wife of Hemant Agarwal, CMD of retail giant V-Bazar.
Historically, only the most developed parts of Mumbai and Delhi have recorded the highest property prices, exceeding Rs 1 lakh per square foot.
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So far, India's most expensive real estate project in terms of sale price is the 360 West luxury real estate development in Worli, Mumbai, developed by Oberoi Realty, Propequity said.
The selling price of DLF The Dalias is equivalent to the total selling 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 m².
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DLF The Dalias will spread across 17 acres and consist of 29-storey towers comprising around 400 super-luxury residences.
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These homes will range from 9,500 square feet to 16,000 square feet, with an average size of 11,000 square feet.
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Prices will start at 80,000 square feet with an average ticket price of around Rs 100 crore.
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The clubhouse will be around 2,00,000 square feet, twice the size of Camellias
“With the launch of this much-awaited project, DLF is poised to set new standards of luxurious living in India by offering state-of-the-art amenities to its residents. DLF is set to create history in the Indian real estate sector with this project, making it the largest and most expensive residential project in India,” said Sameer Jasuja, Founder and CEO, PropEquity.
Gurugram has overtaken Delhi and Mumbai, two of the most expensive real estate markets in the world.
This is the sales realization of each project by the developers over the years since launch. These are current and future sales achievements as some projects have not yet been fully sold
With a strategic focus on NRI sales, DLF has seen NRI investments grow from 3% in FY 2020-21 to 23% in FY 2023-24 and has built a loyal clientele of ultra-rich Indians residing abroad and in the NCR.
“It has also achieved this by developing these communities, ensuring it realizes great value in its super-luxury projects, providing residents with 7-star hospitality services and providing the best possible view of the world-famous golf course in Gurugram. These projects also include clubhouses with extensive world-class amenities, 5-star midget hotels,” PropEquity said in a note
DLF has 25% market share in the ultra-luxury segment (properties with ticket prices above Rs 25 million) across India for the last 5 years. First published: October 10, 2024 | 12:48
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