Luxury Hits A High: Gurgaon Apartment Sold For Nearly Rs 2 Lakh Per Sq Ft

A penthouse in Gurgaon’s DLF Camellias has been sold for a record Rs 190 crore, making it the most expensive high-rise apartment in the National Capital Region (NCR) and one of the highest-ever price-per-square-foot deals in India. The 16,290-square-foot property was acquired by Info-x Software Tech Pvt Ltd, with Rishi Parti, the company’s director, overseeing the purchase, as per real estate documents.

The deal sets a new benchmark for luxury real estate, with the price translating to Rs 1.18 lakh per square foot on the super area and Rs 1.82 lakh per square foot on carpet area. This surpasses the previous high, with Mumbai’s priciest areas reaching Rs 1.62 lakh per square foot on carpet area. Previously, the record for the most expensive high-rise apartment transaction was held by three apartments purchased in Mumbai’s Lodha Malabar for Rs 263 crore, at Rs 1.36 lakh per square foot.

This sale highlights the growing demand for luxury properties in Delhi NCR, especially after the pandemic, as the region has seen a surge in high-end residential transactions. DLF Camellias, long recognized as the area’s most expensive residential development, is now being joined by new ultra-luxury projects such as DLF Dahlias. Located near Camellias, the Dahlias project will feature 400 bare-shell units priced between Rs 60 crore and Rs 100 crore, with prices of around Rs 65,000 per square foot. Over 100 apartments have already been sold during its pre-launch phase.

According to real estate consultancy JLL, NCR accounted for 64% of luxury residential launches in India’s top seven cities in the first half of 2024. The region continues to drive the demand for high-end residential properties, solidifying its position as a key market for premium real estate investments. While DLF has not commented on the Rs 190-crore deal, it underscores the region’s expanding luxury housing market.