Gurgaon Apartment Sales Stun The Market- All You Need To Know
By Bricksnwall | 2023-10-11
The Gurgaon
real estate market is buzzing with the news of a Rs100-crore sale involving a
10,000-square-foot apartment at The Camellias by DLF on Golf Course Road.
According to
the source, a similar-sized apartment in the same location sold for 60 crore a
few months ago. The significant increase in per-square-foot charges for this
address over the last four months is related to the jump in property values.
"There
is a high demand for apartments at DLF Golf Links because most startup
founders, senior executives of MNCs, and businessmen prefer to live here
because of the unrivaled amenities and ecosystem," said Amit Goyal,
managing director of India Sotheby's International Realty.
DLF offers
these flats in an incomplete form for Rs 85 crore for a 10,000-square-foot
unit.
However,
owners who have invested in interior renovations are now requesting more than
Rs100 crore for flats of comparable size, cementing the property's standing as
one of the most expensive condominiums in the country, according to ET.
The
significant increase in luxury real estate costs in Gurgaon and affluent areas
of Delhi has pushed up the prices of high-end apartments in the southwestern
suburbs and mansions in the Lutyens zone, which now compete with rates seen in
Mumbai's prestigious neighborhoods, where the cost per square foot has
surpassed Rs 1 lakh.
Real estate
professionals in the National Capital Region (NCR), which includes Delhi and
nearby places such as Noida and Gurgaon, are drawing comparisons between the
Camellias and Delhi's famed Lutyens zone.
Earlier this
month, according to a joint analysis by Knight Frank and the National Real
Estate Development Council (Naredeco), India's real estate market is predicted
to grow to $5.8 trillion by 2047, contributing 15.5% to GDP, up from 7.3%.
According to the research 'India Real Estate: Vision 2047,' the residential segment will dominate the real estate market. "By 2047, when India reaches 100 years of independence, the size of India's economy is estimated to range between $33-40 trillion," the authors of the paper said.
