News: Ultra luxury condo: Delhi based business family buys 4 bare shell apartments in Gurgaon for Rs 380 crore-31-10-2025
NEW DELHI: In one of the costliest ever deals in India for an under construction highrise project, a Delhi based business family has bought four bare shell apartments in DLF's uber luxury Dahlias in Gurgaon for Rs 380 crore. The apartments are in adjoining towers with a common wall. The common wall between two adjacent towers will be removed on two floors to create a 35,000 square foot space spread over what would otherwise have been four apartments.
Last Dec, a 16,290 square foot penthouse in Gurgaon's luxurious DLF Camellias had sold for Rs 190 crore, setting a record for the most expensive highrise condominium in NCR. "Camellias is an existing project. The four apartment Dahlias deal is the most expensive for an under construction highrise project in NCR," said a person in the know. "Taking out the loading of 35%, it leaves with a carpet area of about 22,750 sq feet. At a sale price of Rs 380 crore, that translates into a per square foot carpet area price of about Rs 1.7 lakh."
Kshitij Jain, founder of Rizin Advisory, had advised the transaction. "The family has been running multiple businesses for just under a century. The third generation of this family had a budget of Rs 300 500 crore and they were looking at a big farmhouse or a property in Lutyens' Delhi. During our discussions, I realised this upcoming project opposite Camellias will be best suited given their requirements. The four apartments will be linked by two access controlled elevators," Jain said. The family already owns an apartment in The Camellias.
Real estate data analytics firm Propequity's founder CEO, Samir Jasuja, said, "Dahlias is the biggest project in the country with an overall value of over Rs 42,000 crore for just about 420 apartments. Once finished with interiors and registration, the total cost (of the four apartments) will cross Rs 500 crore." The project is three and half years away from completion, he added.
The uber luxury market is witnessing a boom in Delhi NCR, which accounted for a remarkable 64% share of luxury residential launches in the country's top seven cities in the first half of 2024, according to real estate consultancy firm JLL. Overall, 59 ultra luxury homes got sold for around Rs 4,754 crore in 2024.
