Villas and independent houses, perhaps, but an apartment for Rs 100 crore?
That’s the eye-popping price tag that Delhi-based Raheja Developers has put on a 6-bedroom penthouse in its Revanta property in Gurgaon — likely the highest in India for a brand-new flat.
The developer is also projecting it as as the “tallest building in North India” with 60 floors.
It gives a luxury of a private swimming pool overlooking the Aravali mountains, interior fittings and luxury fixtures, and access to a rooftop helipad.
Interestingly, no apartment till date has been put up for sale with such a high price tag.
“According to estimates, most expensive apartments would be in the range of Rs 35 crore to Rs 50 crore at Prithviraj Road in Delhi and at UB City in Bangalore... But by far this price is not heard of as of now. Apartments worth Rs 100 crore would have more margins for the developer but less number of sales,” said Anshuman Magazine, chairman and managing director, South Asia, real estate consultancy CBRE.
Tata Housing announced a project in central Delhi’s Hailey Road last year — individual villas for Rs 130-170 crore. Residential units beyond the range of Rs 1 lakh per square feet in group housing societies are also unheard of in other metros including Mumbai, Bengaluru, Kolkata.
A spokesperson for Raheja Developers said the property is not for general public, and proper due diligence is being done before taking discussions forward with prospective clients.
“Over 90% of the units in this community are sold out, mostly to NRIs and big names in business,” Raheja Developers executive director Nayan Raheja said.