DLF, India's largest real estate firm by market capitalization, is preparing to launch its most expensive project, DLF The Dahlias, on Golf Course Road in Gurugram. Featuring 400 residences priced from INR 80,000 per square foot, the average cost per apartment is expected to be around INR 100 crore. With a projected sales value of INR 34,000 crore, the project is set to surpass DLF's Camellias, another high-end development in the area. The Dahlias is anticipated to rival Mumbai's luxury projects, marking a new benchmark in India's luxury real estate market, attracting high-net-worth individuals to the NCR region.
DLF, the largest real estate firm in the country by market capitalisation, is set to launch what is anticipated to be the most expensive project in India's real estate history-DLF The Dahlias. This new development will be situated directly across from the existing Camellias on Golf Course Road in Gurugram. DLF The Dahlias will feature 400 residences, with prices commencing at INR 80,000 per square foot. The average cost of an apartment is expected to be around INR 100 crore, according to insights from real estate consulting firm Prop Equity. With a projected sales value of INR 34,000 crore, this new project is 2.5 times the value of the Camellias.
The Camellias, which has become a residence for top executives and high-net-worth individuals in the Delhi National Capital Region, was launched at INR 22,500 per square foot for the super area approximately a decade ago and has since emerged as one of the most expensive condominiums in the country. The Camellias has consistently reported some of the highest transaction prices in the NCR, with recent sales averaging between INR 65,000 to INR 85,000 per square foot. Unfurnished apartments in this prestigious development rent for a minimum of INR 10.5 lakh per month, while furnished options can command up to INR 14 lakh. Earlier this year, a 10,000 sq. ft apartment at The Camellias was purchased for INR 95 crore by Smiti Agarwal, the wife of Hemant Agarwal, CMD of the retail giant V-Bazaar.
Traditionally, the priciest real estate has been concentrated in the most affluent areas of Mumbai and Delhi, where prices have exceeded INR 100,000 per square foot. To date, the most expensive real estate project in India, in terms of sales value, has been the 360 West luxury development in Mumbai's Worli, developed by Oberoi Realty, as noted by PropEquity. The sales value of DLF The Dahlias is expected to match the total sales value of both Three Sixty West by Oberoi Realty in Mumbai and DLF Camellias in Gurugram, as well as Naman Xana in Mumbai. The starting size of the apartments in DLF The Dahlias is projected to be 9,500 sq ft.
In conclusion, DLF The Dahlias represents a monumental leap in luxury real estate, setting new benchmarks for pricing and exclusivity in India. With its prime location and innovative offerings, this project is poised to attract high-net-worth individuals and redefine luxury living in the NCR, reinforcing DLF's position as a leader in the market.
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