In a record-breaking transaction, Info-X Software Technology Pvt Ltd, represented by its director Rishi Parti, has acquired a sprawling 16,000-square-foot penthouse at DLF’s ultra-luxury project, The Camellias, in Gurugram. According to reports, the penthouse was purchased for an astounding ₹190 crore, making it one of the most expensive residential deals in India.
Stamp duty seals the deal
The transaction, registered on December 2, also involved a ₹13 crore stamp duty payment, as per documents accessed by CRE Matrix, a real estate data analytics firm. This deal marks a significant milestone, being the first ₹100-crore-plus transaction within The Camellias, located on the posh Golf Course Road in Millennium City.
A testament to India’s growing luxury real estate market
“The transaction highlights the growing economy of India and how businesses are thriving. This has brought liquidity to the market, and one segment that has benefited most is the uber-luxury real estate,” stated Ashwin Chadha, CEO of India Sotheby’s International Realty. “Top business leaders are willing to spend this much money on real estate, and we are seeing this trend pan-India.”
From magnolias to camellias
The latest sale achieved a record-breaking ₹120,000 per square foot, calculated on a super area basis. This pricing aligns Gurugram’s luxury real estate with that of high-end neighborhoods in Mumbai and Delhi. Residential complexes like The Magnolias and The Aralias, also by DLF, have served as stepping stones for approximately 15% of The Camellias’ property owners, who have upgraded to this ultra-luxurious address.
A growing list of elite residents
The Camellias have emerged as the residence of choice for India’s affluent class, primarily from the Delhi-NCR region. Esteemed property owners include JC Chaudhry, founder of Aakash Educational Services; Aman Gupta, co-founder of BoAt; and the Elan Group, a real estate enterprise. Several other company founders have also invested in this prestigious property, solidifying its status as a hub for India’s business elite.
Gurugram’s luxury market on the rise
The surge in luxury real estate prices in Gurugram and Delhi’s elite neighborhoods has drawn comparisons to Mumbai’s upscale markets. With per-square-foot rates crossing ₹120,000, the boom is reflective of the region’s growing demand for high-end residential spaces.
