Info-x Buys Penthouse for Rs 1.90 Billion in DLF Camellias Gurugram

09 Dec 2024 CW Team

Info-x Software Technology, through its director Rishi Parti, purchased a 16,000 sq ft penthouse at DLF's ultra-luxury The Camellias in Gurugram for Rs 1.90 billion, marking one of the costliest apartment transactions in the country. The deal, which was registered on December 2, also included a Rs 130 million stamp duty payment, according to documents accessed from CRE Matrix, a real estate data analytics firm.

In October 2023, it was reported that the first Rs 1 billion transaction had taken place in the same residential complex located on Golf Course Road in Millennium City.

Ashwin Chadha, CEO of India Sotheby's International Realty, commented that the transaction highlighted India's growing economy and thriving businesses, which have contributed to liquidity in the market. He noted that the uber-luxury real estate sector has benefited the most, with top business leaders willing to invest substantial amounts in real estate, a trend that is spreading across the country.

The latest deal at The Camellias was finalized at Rs 120,000 per sq ft on a super area basis, which is one of the highest in the country. The surge in luxury real estate prices in Gurugram and Delhi’s upscale areas has caused prices of high-end apartments in Delhi’s southwestern suburbs and bungalows in the Lutyens zone to match those in Mumbai’s prestigious neighborhoods, with per-sq-ft prices exceeding Rs 120,000.

Approximately 15 per cent of the property owners at The Camellias have upgraded from DLF's other projects, 'The Magnolias' and 'The Aralias,' in Gurugram. The majority of buyers in The Camellias are from the Delhi-National Capital Region. Prominent property owners in the project include Aman Gupta, founder of BoAt; JC Chaudhry, founder of Aakash Educational Services; and Elan Group, a real estate firm. Additionally, several startup founders are reported to have purchased apartments in the same complex.

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