The Aralias, the Magnolias, and the Camellias, all part of the Golf Links projects, have experienced substantial price escalations since the previous year, with identical-sized apartments fetching Rs 19 crore in October 2022.
In separate transactions, MakeMyTrip's CEO, Rajesh Magow, and Genpact's CHRO, Piyush Mehta, have acquired individual apartments at The Magnolias by DLF on Golf Course Road in Millennium City. Each of these transactions amounted to approximately Rs 33 crore. This notable investment showcases their interest in premium real estate within the thriving urban landscape of Gurugram. The Magnolias, renowned for its luxury and exclusivity, stands as a testament to the growing allure of high-end residences in the region.
As per records obtained from CRE Matrix, the dimensions of both apartments are approximately 6,500 sq ft. Rajesh Magow secured his property for Rs 33 crore, while Piyush Mehta made a purchase at a slightly lower amount, acquiring his apartment for Rs 32.6 crore.
According to industry experts, the apartment at DLF Golf Links are in high demand with host of CEOs, start up founders and businessmen living there, making it the most coveted address of the NCR.
The substantial upswing in the prices of upscale real estate in Gurgaon and the affluent regions of Delhi has aligned the cost of high-end apartments in the glamorous southwestern suburb and mansions in the Lutyens zone with the esteemed neighborhoods of Mumbai.
In the National Capital Region (NCR) that includes Delhi and its suburbs such as Noida and Gurgaon, property experts are now drawing comparisons between the Camellias and Delhi's esteemed Lutyens zone, the latter being the home of the country's top business magnates and political elite.
Around 15% of property holders at The Camellias have chosen to upgrade from residences at 'The Magnolias' and 'The Aralias.' The predominant share of buyers hails from the Delhi NCR region. Notable personalities among The Camellias' property owners encompass Aman Gupta, the founder of BoAt; JC Chaudhry, the founder of Aakash Educational Services; and the esteemed real estate firm, Elan Group.
DLF's venture, The Camellias project, has proven to be a lucrative investment. The project holds a total value of Rs 12,000 crore, featuring a restricted offering of only 429 units for sale. Remarkably, amidst the challenges posed by the pandemic, DLF witnessed a notable uptick in sales, exceeding the combined sales of Camellias units from the preceding two years. This success underscores the project's resilience and attractiveness even in the face of economic uncertainties.
DLF5 Golf Links residences located on Golf Course Road also command some of the highest rentals in the luxury and super-luxury segments across the country.
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