Palatial Splendour
Business Today India|November 10, 2024
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
ARNAB DUTTA
Palatial Splendour

In the months leading up to the festive season last year, the real estate market in the National Capital Region (NCR) of Delhi lit up unexpectedly, emerging from a prolonged period of dour sentiments. With an eye-popping deal setting a benchmark in the region, the market, despite its history of fraudulent realtors deceiving homebuyers for nearly a decade, captured the attention of industry stakeholders and homebuyers alike. The Camellias, an opulent ultra-luxury apartment complex on Gurugram’s Golf Course Road, witnessed the sale of an 11,000-sq.-ft fourBHK apartment for ₹114 crore in October 2023, marking a significant milestone.

That was the first such deal to surpass the ₹100-crore threshold typically associated with Lutyens Delhi bungalows. A few months later, in February 2024, another swanky apartment was acquired for over ₹100 crore by Smiti Agarwal, the spouse of Hemant Agarwal, Chairman and MD of mass market retail major V-Bazaar, in the same complex of DLF’s upscale township—DLF Golf Links. The apartment, which spreads over 10,800 sq. ft, and comes with parking for five cars, was valued at ₹95 crore, with Agarwal paying a few more crores as stamp duty and related charges. The dream run of ultra-luxury homes continues. In March, Vasudha Rohatgi, the wife of former Attorney General of India and renowned senior advocate Mukul Rohatgi, purchased a 2,100-sq.-yard (approximately 19,000 sq. ft) bungalow for ₹160 crore in Delhi’s Golf Links.

هذه القصة مأخوذة من طبعة November 10, 2024 من Business Today India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة November 10, 2024 من Business Today India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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