DLF New project in Gurgaon, as the sources says, includes 400 shell ultra-luxury housing units with ₹80,000 per sq ft as the minimum rate.
Realty major DLF is likely to announce, the country’s most expensive uber-luxurious real estate venture, which will have over 400 super-luxurious apartments in Gurugram. The expected starting price i₹80 crore.
Once the project is up and running, the residential stretch on Golf Course Road in Gurugram, now popularly referred to as North India Billionaires’ Row, would rival ultra-luxury properties in Mumbai’s Alt amount Road and Delhi’s Lutyens zone, both private residences, as well as the billionaires’ street that stretches along the southern edge of Central Park in New York, said real estate analysts.
Tentatively named DLF The Dahlias, the project will most likely be developed on a 17-acre or larger tract on Golf Course Road in Gurugram It is likely to house over 400 ultra luxury apartments with price tags starting from ₹80,000 a Sq Ft, said people in the know.
In May, DLF, during a press briefing said that it intends to bring the super luxury narrative around Camellias to the next level in Gurugram. Having expanded upon the Camellias saga in Gurugram, “We’re now ready to move ahead with Lux5 in Q3, 2024 and the price points are likely to be fairly higher, much higher than Magnolias which is now trading at about ₹40 crore. Its Lux 5 project is also believed to be upscale compared to that of Camellias. It will be a ‘Only by Invitation’ product,” the company had announced.
Project sale value and other details
The sales value of the upcoming DLF new project in Gurgaon will be ₹34,000 crore, which is 2.5 times more than that of Camellias or any other project inIndia.
The sales value of DLF The Dahlias equals the collective sales value of Three Sixty West by Oberoi Realty in Mumbai, DLF Camellias in Gurugram and Naman Xana in Mumbai. The apartment 9500 sq. ft.
How will the project compare with Lutyens Delhi bungalows once it is launched?
The area of these flats should begin from 9500 sq ft to 16000 sq ft. In premium locations of Delhi like Jor Bagh, Sunder Nagar, Golf Links total area may not cross 3000 or 6000 sq ft as some areas fall under Lutyens Bungalow Zone norms. Since the launch price is being pegged around ₹80,000 per sq ft, the ultra luxury unit may well compete with prices prevailing in Lutyens Delhi if not exceed it, says Jasuja.
Who will buy these ultra luxury apartments?
Ultra HNI buyers. Some of the apartments are likely to be bought by the purchasers of Camellias, Magnolias and Aralias. Some buyers have apartments in all the three ultra luxury apartments launched so far by the company. That is mostly because all along the investor has been receiving a very high return on investment. In Camellias, the average rent for a 11000 sq ft apartment is approximately ₹18 lakh a month.
How will the project change the dynamics of the Gurugram market?
The headlines consistently name Delhi and Mumbai as the second third costliest cities globally. Gurugram has now surpassed even Delhi and Mumbai in terms of price points and luxury avenues. It is now one of India’s luxury capitals.
An earlier study by PropEquity has revealed that the most units in the over ₹5-crore price band were launched in Gurugram through 2023, followed by Hyderabad and Mumbai. The analysis revealed that 6332 new housing units were launched in Gurugram. They were valued at ₹47,490 crore. In Hyderabad, 4376 units were launched, worth 32,820 crore. In Mumbai, 4,338 housing units worth ₹32,535 crore were launched compared to 1,042 housing units worth ₹7,815 crore in New Delhi.
What about maintenance?
The maintenance in case of high end or super luxury projects ranges from ₹6 to ₹8 sq ft which translates to a monthly outflow of nearly ₹60,000. This is nearly half of what is collected as maintenance in Mumbai. Such apartments have to pay separate club charges fees plus the amount according to usage and consumption
