Gurugram overtakes Mumbai as India’s new ultra-luxury real estate hub – CNBC TV18
Rishi Parti, CEO of Info-x Software Technology, set a national record by purchasing a 16,290-square-foot penthouse at DLF Camellias for ₹190 crore. This translates to an astounding ₹1,80,000 per square foot, cementing Camellias’ position as India’s most expensive high-rise condominium.
This deal has not only brought attention to Gurugram but also overshadowed other high-profile real estate transactions across India. These include:
- Great White Global’s acquisition of two apartments in Oberoi Three Sixty West, Worli, for ₹225 crore.
- RR Kabel promoter Shreegopal Kabra’s purchase of a 13,809-square-foot property on the 62nd floor of the same building for ₹198 crore.
- Param Capital’s Asha Mukul Agrawal buying three flats at Lodha Malabar, Mumbai, for ₹263 crore.
Samir Jasuja, Founder of PropEquity, stated, “Gurgaon has emerged as the new luxury capital of India, overtaking Delhi and Mumbai. Successful startup entrepreneurs and industrialists now prefer living closer to their workplaces in Gurgaon.”
Jasuja highlighted how iconic projects like DLF Aralias, launched 25 years ago at ₹1,800 per square foot, have paved the way for today’s luxury benchmarks, such as DLF Camellias, which now commands ₹1,80,000 per square foot.
Data from real estate consultancy Anarock reveals that 2024 saw 25 ultra-luxury residential deals, each priced above ₹40 crore, across cities like Mumbai, Hyderabad, Gurugram, and Bengaluru. The total value of these transactions amounted to ₹2,443 crore, with Mumbai leading in terms of deal numbers.
Santosh Kumar, Vice Chairman of Anarock India, explained, “Mumbai continues to dominate the ultra-luxury market, driven by celebrity buyers and young entrepreneurs. While Gurgaon has standout projects like Camellias, Mumbai’s prime locations and consistent supply make it the leader in this segment.”
The rise in super-luxury real estate is fueled by increasing wealth, a desire for opulent lifestyles, and iconic projects that redefine urban living. Industry experts predict this trend will continue and grow through 2025, with more record-breaking deals and innovations in design and amenities.
For now, DLF Camellias stands as a symbol of Gurugram’s transformation into a luxury real estate powerhouse, setting benchmarks that rival the best in the world.
