DLF Camellias Rs 190 crore penthouse shatters records, outshines Mumbai, rewriting India’s luxury real estate story!

Gurgaon (The Uttam Hindu): A penthouse in Gurgaon’s DLF Camellias has shattered records by selling for a remarkable Rs 190 crore, making it the priciest high-rise apartment in the National Capital Region (NCR) and possibly across the country. The sale, which translates to around Rs 1.8 lakh per square foot (carpet area), was made by Info-x Software Tech Pvt Ltd, through its director Rishi Parti, who purchased the 16,290-square-foot penthouse.

Documents reveal that the company paid Rs 13 crore in stamp duty, and the deal was officially registered on December 2. While DLF has yet to comment on the transaction, the deal has raised eyebrows in the real estate industry. Real estate analytics firm Propequity’s CEO noted that this is the highest per square foot price ever recorded for a high-rise apartment in India, with Rs 1.2 lakh per square foot on super area and Rs 1.8 lakh per square foot on carpet area.

"While property prices in Delhi NCR are typically based on super area, the Gurgaon deal surpasses Mumbai's pricing, which is based on carpet area," said the CEO, highlighting the massive difference in the pricing terms. Before this transaction, one of the highest-profile apartment deals involved a company buying three flats in Mumbai’s Lodha Malabar for Rs 263 crore at Rs 1.4 lakh per square foot (carpet area). However, this new sale in Gurgaon far exceeds those figures. The ultra-luxury real estate market in NCR has been seeing a significant boom, with the region accounting for 64% of all luxury residential launches in India's top seven cities during the first half of 2024, according to data from a prominent real estate consultancy.