Gurugram May Become India’s New Epicenter for Ultra-Luxury Real Estate
In December 2024, DLF Camellias in Gurugram made headlines for record-breaking property deals, putting the city ahead of Mumbai in the ultra-luxury real estate segment. The deal was the purchase of a 16,290-square-foot penthouse by Rishi Parti, CEO of Info-x Software Technology, for ₹190 crore at ₹1,80,000 per square foot. This makes Camellias India’s most expensive high-rise condominium.
This deal has brought Gurugram into focus, beating other big real estate purchases in India. These include Great White Global buying two apartments at Oberoi Three Sixty West in Mumbai for ₹225 crore, RR Kabel’s Shreegopal Kabra purchasing a large 13,809 sq. ft. apartment in the same building for ₹198 crore, and Param Capital’s Asha Mukul Agrawal picking up three apartments at Lodha Malabar in Mumbai for ₹263 crore.
Recent Purchases at DLF Camellias
DLF Camellias in Gurugram, known for its luxury apartments, has seen several big-ticket purchases recently:
- Smiti Agarwal, director at Wesbok Lifestyle and wife of V Bazaar CMD Hemant Agarwal, bought an apartment for ₹95 crore in January 2024.
- Deep Kalra, founder of MakeMyTrip, purchased a 7,430 sq. ft. apartment for ₹46.25 crore.
- Sameer Manchanda, Chairman and Managing Director of Den Networks Ltd., bought a 10,813 sq. ft. apartment for ₹37.83 crore.
- Ashish Gurnani, founder of Assago Group, purchased two 7,430 sq. ft. apartments for ₹21.75 crore each.
These large-scale investments reflect the growing confidence in Gurugram’s potential as a destination for ultra-luxury real estate developments.
Gurugram: India’s Emerging Luxury Capital
Samir Jasuja, Founder of PropEquity, highlighted Gurugram’s rise as the new luxury real estate hub, driven by startup entrepreneurs and industrialists who prefer living closer to workplaces. Iconic projects like DLF Aralias, launched 25 years ago at ₹1,800 per square foot, laid the foundation for milestones like Camellias, now priced at ₹1,80,000 per square foot.
Anarock’s report shows that in 2024, over 25 ultra-luxury deals worth ₹2,443 crore were closed in cities like Mumbai, Hyderabad, Bengaluru, and Gurugram.
Santosh Kumar, Vice Chairman of Anarock, stated, “Mumbai still dominates the ultra-luxury segment with celebrity buyers and prime locations, but Gurugram’s world-class developments like Camellias are setting new standards.”
Recent Major Land Purchases in Gurugram
Gurugram’s rise as a hub for ultra-luxury real estate is further highlighted by recent high-value land acquisitions by leading developers:
- Oberoi Realty purchased 14.8 acres of prime land in Gurugram for ₹597 crore.
- Dvok Buildcon acquired 18 acres for ₹310 crore, reinforcing its presence in the region.
- DLF Homes secured 29 acres on Golf Course Extension Road for residential projects, in a deal worth ₹825 crore.
Looking Ahead to 2025
Experts predict that India’s luxury real estate market is expected to grow even more in 2025, powered by increasing incomes, urban development and the demand for high-end homes. Projects like DLF Camellias are paving the way, helping Gurugram strengthen its position as a destination for ultra-luxury properties, alongside Mumbai and Delhi.
Image source: DLF Camellias
