DLF's Mega Luxury Project in Gurugram: Apartments Priced at ₹80 Crore
Real estate giant DLF Ltd is set to launch the most expensive ultra-luxury project in the country, featuring over 400 super luxury apartments in Gurugram, with starting prices around ₹80 crore. The project, named The Dahlias, will be a game-changer in the
Luxury ApartmentsDlfGurugramUltraluxury ProjectsReal EstateReal EstateOct 10, 2024
Project Overview
The Dahlias will be situated on the prestigious Golf Course Road in Gurugram, an area already renowned as North India's billionaires' row. The project is expected to span an expansive 17 acres and will feature ultra-luxury apartments ranging from 9,500 sq ft to 16,000 sq ft, with an average size of 11,000 sq ft. According to Samir Jasuja, founder and CEO of PropEquity, a NSE-listed firm, the apartments will be sold as bare shell units with a starting price of ₹80,000 per sq ft. The average ticket price is estimated to be around ₹100 crore.
Premium Amenities
The clubhouse, an integral part of The Dahlias, will cover approximately 200,000 sq ft, nearly twice the size of the clubhouse at Camellias. The project will boast an artificial lake, cafes, and walkways, offering a luxurious living experience akin to the best projects in the US and Europe.
Market Impact
Once launched, The Dahlias is expected to compete with ultra-luxury properties in Mumbai’s Altamount Road, Delhi’s Lutyens area, and even New York’s billionaire’s street. The project’s sales value is estimated at ₹34,000 crore, making it almost 2.5 times the value of any other project in India, including DLF’s Camellias.
Target Buyers
The Dahlias will primarily attract ultra-high-net-worth individuals (UHNIs). Some buyers of previous DLF luxury projects like Camellias, Magnolias, and Aralias are likely to invest in The Dahlias. Notably, these buyers have enjoyed high returns on their investments, with the average rent for a 11,000 sq ft apartment in Camellias reaching around ₹18 lakh per month.
Changing the Gurugram Market
Gurugram has emerged as the new luxury capital of India, surpassing Delhi and Mumbai in terms of luxury offerings and price points. According to PropEquity, Gurugram has seen the launch of the most housing units priced above ₹5 crore in 2023, followed by Hyderabad and Mumbai. The Dahlias will further strengthen Gurugram’s position as a premier luxury real estate destination.
Investment Potential
While the project is expected to attract a mix of end-users and investors, the number of pure investors may not exceed 10%, depending on how one defines an investor. For instance, a current resident of Camellias might move to The Dahlias and rent out their existing apartment, thus becoming both an end-user and an investor.
Maintenance and Costs
Maintenance for super-luxury projects like The Dahlias ranges from ₹6 to ₹8 per sq ft, leading to a monthly cost of around ₹60,000. This is significantly lower than the maintenance charges in Mumbai. Additionally, buyers will have to pay club charges and other fees based on usage and consumption.
Conclusion
DLF’s The Dahlias is set to redefine luxury living in Gurugram, offering a unique blend of opulence and modern amenities. With its prime location, premium facilities, and high price points, it is poised to become a landmark project in the Indian real estate market.
Frequently Asked Questions
What is DLF's new project in Gurugram?
DLF's new project in Gurugram is called The Dahlias, which is an ultra-luxury residential project with over 400 apartments. The apartments will range from 9,500 sq ft to 16,000 sq ft, with an average size of 11,000 sq ft and starting prices around ₹80 crore.
Where is The Dahlias located?
The Dahlias is located on the Golf Course Road in Gurugram, an area known as North India's billionaires' row. The project will span 17 acres and include a 200,000 sq ft clubhouse.
Who is likely to buy these ultra-luxury apartments?
The primary buyers of The Dahlias will be ultra-high-net-worth individuals (UHNIs) and some existing buyers of DLF's previous luxury projects like Camellias, Magnolias, and Aralias. These buyers have enjoyed high returns on their investments in the past.
How will The Dahlias impact Gurugram's real estate market?
The Dahlias will further establish Gurugram as the luxury capital of India, surpassing Delhi and Mumbai in terms of luxury offerings and price points. It will compete with ultra-luxury properties in Mumbai’s Altamount Road and Delhi’s Lutyens area.
What are the maintenance costs for The Dahlias?
Maintenance for The Dahlias will range from ₹6 to ₹8 per sq ft, leading to a monthly cost of around ₹60,000. Buyers will also have to pay additional club charges and fees based on usage and consumption.
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