Ultra luxury market is emerging rapidly in the real estate sector of India. In this series, giving competition to big cities, Gurugram adjacent to Delhi has made a tremendous debut and has overtaken Mumbai and Dubai in the ultra luxury home market. According to the news of Financial Express, Gurugram has emerged as a formidable competitor to Mumbai and Dubai in the luxury real estate category, setting new standards.
Gurugram’s DLF Camellias project in headlines
According to the news, Gurugram’s DLF Camellias project is at the forefront of India’s real estate headlines by December 2024, with record-breaking property deals putting the city ahead of both Mumbai and Dubai in the ultra-luxury segment. Last year, a 16,290-square-foot penthouse in DLF Camellias was bought by a top executive for ₹190 crore. This equates to a staggering ₹1,80,000 per square foot, establishing Camellias as India’s most expensive high-rise condominium.
A look at the prices in posh areas of Mumbai
- Juhu: Average property price – ₹55,000 to ₹60,000 per sq ft
- Malabar Hill: Average property price – ₹50,000 to ₹55,000 per sq ft
- Cuffe Parade: Average property price – ₹45,000 to ₹50,000 per sq ft
- Bandra Bandstand: Average property price – ₹40,000 to ₹45,000 per sq ft
- Tardeo: Average property price – ₹45,000 to ₹50,000 per sq ft
- Pali Hill, Bandra: Average property price – ₹35,000 to ₹38,000 per sq.ft.
- Worli Sea Face: Average property price – ₹36,000 to ₹39,000 per sq ft
- Breach Candy: Average property price – ₹23,000 to ₹25,000 per sq ft
- Seven Bungalows, Versova: Average property price – ₹30,000 to ₹32,000 per sq ft
- Hiranandani, Powai: Average property price – ₹74,000 to ₹76,000 per sq ft
- Altamount Road: Average property price – ₹57,000 to ₹59,000 per sq ft
- JVPD Scheme: Average property price – ₹38,000 to ₹40,000 per sq ft
Know the price in Dubai
- Silicon Oasis, Arjan, Motor City, Sport City, Dubai South: Average property price – AED 2,000 (₹40,000) per sq. ft.
- Business Bay, Meydan, District One, Dubai Hills: Average property price – AED 2,500 to AED 3,500 (₹50,000 to ₹70,000) per sq. ft.
- Damac Hills, Damac Lagoon, Marina Palm Jumeirah Starting Point: Average property price – AED 2,000 to AED 2,500 (₹40,000 to ₹50,000) per sq. ft.
- Palm Jumeirah: Average property price – AED 5,000 to AED 50,000 (₹1,00,000 to ₹10,00,000) per sq. ft.
gurugram rising star
The DLF Camellias deal has not only captured the attention of the entire nation but has also left behind other high-profile real estate transactions across India. Some big deals here have surprised everyone. Two apartments in Oberoi Three Sixty West, Worli were acquired by a leading industrial group for ₹225 crore. Another big deal involves a 13,809 sq ft property on the 62nd floor of the same building for ₹198 crore. Three flats were purchased for ₹263 crore in Lodha Malabar, Mumbai. Additionally, a bungalow deal worth ₹130 crore was struck in New Delhi’s posh Kautilya Marg.
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