Gurugram has emerged as the new epicenter of ultra-luxury real estate, outshining Mumbai with record-breaking property transactions in 2024. At the forefront of this transformation is DLF’s Camellias, a high-rise condominium project that has set unprecedented benchmarks in India’s real estate landscape.
One of the most significant transactions of the year was Rishi Parti, CEO of Info-x Software Technology, purchasing a 16,290-square-foot penthouse at DLF Camellias for ₹190 crore. This deal, priced at ₹1,80,000 per square foot, has cemented Gurugram’s status as a leader in the ultra-luxury segment.
Transformational projects driving demand
Projects like DLF Camellias are redefining opulence, with modern design, world-class amenities, and a prime location. Gurugram’s transformation into a luxury hub has been years in the making, starting with landmark developments like DLF Aralias and Magnolias.
“Gurgaon has surpassed Mumbai and Delhi as the luxury capital of India,” said Samir Jasuja, Founder of PropEquity. “Proximity to workplaces, better infrastructure, and premium projects are attracting top entrepreneurs and industrialists.”
Outpacing Mumbai in high-value transactions
Gurugram’s rise in the luxury real estate market has overshadowed major deals in Mumbai, including Great White Global’s ₹225 crore investment in Oberoi Three Sixty West in Worli, RR Kabel’s Shreegopal Kabra’s ₹198 crore purchase in the same building, and Param Capital’s ₹263 crore acquisition at Lodha Malabar in South Mumbai. These transactions highlight the growing prominence of Gurugram as a hub for ultra-luxury properties, challenging Mumbai’s dominance in the high-end real estate segment..
While Mumbai remains a key player, Gurugram is rapidly catching up due to its competitive pricing and premium developments.
The growth of India’s luxury segment
According to Anarock’s 2024 report, India witnessed 25 ultra-luxury deals worth over ₹40 crore, with Gurugram accounting for a significant share. The demand is fueled by rising affluence, innovative projects, and changing buyer preferences.
Santosh Kumar, Vice Chairman of Anarock India, stated, “Luxury real estate in India is evolving, and Gurugram is leading the way with projects that cater to the elite.”
A promising future for Gurugram
Gurugram is expected to dominate the ultra-luxury real estate market in 2025, with upcoming projects offering record-setting designs and amenities. As India’s wealth grows and demand for opulent living spaces rises, Gurugram is poised to remain a trailblazer in the luxury housing segment.
