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Realty consultants said that the real estate deal in The Camellias by DLF has narrowed the price difference of properties in Delhi and Gurugram
The property dealer stated that the price differential between houses in Delhi and Gurugram has decreased as a result of DLF’s real estate transaction at The Camellias.
The ultra-luxury real estate sector in Delhi-NCR is booming. A 10,000 square foot flat at The Camellias by DLF on the exclusive Golf Course Road in Gurgaon sold for ₹95 crores in the most recent transaction, according to data obtained by CRE Matrix.
DLF Camellias Deal Narrows Gap Between Delhi And Gurugram Housing Markets
The condominium was sold by the seller, an NRI living in Singapore, to Smiti Agarwal, the wife of V Bazaar Retail Pvt Ltd’s CMD, Hemant Agarwal. Director Smiti Agarwal works at Wesbok Lifestyle Pvt Ltd.
The paperwork said that the buyer had paid ₹4.75 crore in stamp duty. As per the paperwork, the selling deed was registered in January. According to the certificate, the flat is 10,813 square feet in size and has five parking spaces.
Hemant Agarwal remained silent about the agreement. A DLF property of 11,000 square feet was sold for ₹114 crores in the same building development last year. 2014 saw DLF sell the Camellias in Gurugram as luxury home units with bare shells for ₹22,500 per square foot.
DLF Camellias Golf Course Road Condo Sells Big In Delhi-NCR
The transaction, according to real estate brokers in Gurugram, has reduced the price differential between houses in Delhi and Gurugram. After selling their Delhi bungalows, the majority of apartment purchasers in Gurugram are from south or central Delhi and have upgraded to luxury flats as a lifestyle choice.
DLF phase 5, Gurugram has become the go-to destination for entrepreneurs, businesspeople, and senior executives of multinational corporations (MNCs); this is especially true for those who have offices in and around Gurugram.
DLF Camellias Exclusive Sale – From NRI Seller to V Bazaar CMD’s Wife
According to Amit Goyal, Managing Director of India Sotheby’s International Realty, “One of the best golf courses combined with the unparalleled amenities provided by DLF has drawn the wealthy buyers into this condominium and it now commands a price per square foot at par with prime areas of Delhi and Mumbai.
The majority of wealthy people buy ultra-luxury residences for investment, personal use, or both, since the demand for these properties keeps rising. According to a recent Anarock analysis, seven major cities saw the sale of 58 ultra-luxury properties valued above ₹40 crores through November 2023, for a total sales value of ₹4,063 crores. Mumbai had the most of these lavish homes—53 in all.
Four transactions for two ultra-luxury properties in Gurugram and two bungalows in Delhi-NCR were reported. According to the research, there were at least 12 deals valued over ₹100 crores in 2023, with two in Delhi-NCR and ten in Mumbai.
Source-ET
