Apartments Here Will Cost Rs 100 Crore!!!

October 11, 2024 14:15

Sunainaa Chadha/Business Standard

DLF, the countrys biggest realty firm in terms of market capitalisation, is set to launch the most expensive project in Indias real estate history -- DLF The Dahlias, right across the road from the existing Camellias, on Golf Course Road in Gurugram.

The Dahlias will include 400 residences, with a starting price of Rs 80,000 per square feet. The average ticket size of an apartment expected to be around Rs 100 crore, according to real estate consulting firm PropEquity.

With sales value of Rs 34,000 crore, this is 2.5 times the value of Camellias, said PropEquity. The existing Camellias, home to top Delhi National Capital Region-based CEOs and high net worth individuals, was launched at Rs 22,500 per square foot (price for super area) a decade ago and is currently among one of the most expensive condominiums in the country.

The Camellias has consistently recorded some of the highest transaction prices in the NCR, with recent sales averaging between Rs 65,000 to Rs 85,000 per square foot.

Unfurnished apartments are renting for a minimum of Rs 10.5 lakh per month, with furnished options commanding up to Rs 14 lakh.

In February 2024, a 10,000 sq ft apartment at The Camellias was bought for Rs 95 crore by Smiti Agarwal, the wife of Hemant Agarwal, CMD of retail giant V-Bazaar.

Historically, only one of the most posh areas of Mumbai and Delhi have seen the highest real estate prices, exceeding Rs 100,000 per square foot.

Till date, the most expensive real estate project in India in terms of sales value has been the 360 West luxury real estate development in Mumbais Worli, developed by Oberoi Realty, said PropEquity.

The sales value of DLF The Dahlias is equivalent to the total sales value of Three Sixty West by Oberoi Realty in Mumbai, DLF Camellias in Gurugram and Naman Xana in Mumbai. The starting size of the apartment is 9,500 sq ft.

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