DLF flat in Gurugram sold for ₹95 crore. Here are the details - Hindustan Times

DLF flat in Gurugram sold for 95 crore. Here are the details

Feb 21, 2024 05:16 PM IST

Realty consultants said that the real estate deal in The Camellias by DLF has narrowed the price difference of properties in Delhi and Gurugram

Delhi-NCR’s uber luxury housing market is on a dream run. In the latest deal, a 10,000 sq ft apartment at The Camellias by DLF in Gurgaon's posh Golf Course Road has sold for 95 crore, documents accessed by CRE Matrix showed.

A 10,000 sq ft apartment at The Camellias by DLF in Gurgaon's posh Golf Course Road has sold for <span class='webrupee'>₹</span>95 crore
A 10,000 sq ft apartment at The Camellias by DLF in Gurgaon's posh Golf Course Road has sold for 95 crore

The seller is a Singapore-based NRI who has sold the apartment to Smiti Agarwal, wife of Hemant Agarwal, CMD at V Bazaar Retail Pvt Ltd. Smiti Agarwal is director at Wesbok Lifestyle Pvt Ltd.

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The stamp duty paid by the buyer amounts to 4.75 crore, the document showed.

The sale deed was registered in January, according to the document.

Also Read: DLF sells luxury residences in Privana South in Gurugram for over 7,200 crore ahead of official launch

The apartment size is 10,813 sq ft and it comes with five car parkings, the document showed.

Hemant Agarwal did not comment on the deal.

Last year, a 11,000 sq ft apartment in the same housing complex by DLF was sold for 114 crore.

Also Read: Delhi-NCR's real estate market: Here's why rich Indians are lapping up luxury properties

The Camellias in Gurugram were sold by DLF as bare shell luxury housing units in 2014 at a rate of 22,500 per sq ft.

Real estate consultants active in Gurugram said that the deal has narrowed the price difference of properties in Delhi and Gurugram.

Also Read: Is capital appreciation the key motivation for rich real estate investors to buy luxury properties?

Most apartment buyers in Gurugram are from south Delhi or central Delhi who have bought luxury apartments for a lifestyle upgrade after selling their bungalows in Delhi

Also Read: Luxury housing sales record 75% growth in 2023 on the back of robust demand: Report

“DLF phase 5, Gurugram has emerged as the preferred choice for startup founders, senior executives of MNCs, and businessmen, more so for people having their workplaces in and around Gurugram. One of best golf course along with unmatched amenities offered by DLF has attracted the wealthy buyers into this condominium and it now commands per square foot price at par with prime areas of Delhi and Mumbai,” said Amit Goyal, Managing Director, India Sotheby’s International Realty.

Also Read: MakeMyTrip founder Deep Kalra sells apartment in Gurgaon to group CEO for 33 crore

Demand for ultra-luxury homes continues to rise with most high net worth individuals purchasing these properties for investment, personal use, or both. A recent report by Anarock shows 58 ultra-luxury homes priced above 40 crore were sold across seven major cities till November 2023, accumulating a total sales value of 4,063 crore. Mumbai led the way with 53 of these opulent properties.

Also Read: Real Estate trends: Five clinchers for a 100 crore property deal

Delhi-NCR recorded four deals for two ultra-luxury homes in Gurugram and two bungalows in Delhi. At least 12 deals in 2023 were worth over 100 crore each with 10 such deals in Mumbai and two in Delhi-NCR, the report said.

Also Read: Gurugram Metro: Here are the sectors which may see the maximum price impact

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    Vandana Ramnani is editor, real estate, HT Digital. She has reported extensively on residential and commercial real estate. She can be reached at vandana.ramnani@htdigital.in

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