Gurgaon DLF apartment sold for 95 crore rupees

Sale of Flat

The flat was sold to Smiti Agarwal, the spouse of Hemant Agarwal, CMD at V Bazaar Retail Pvt Ltd., by a Singapore-based NRI. Director Smiti Agarwal is working with Wesbok Lifestyle private limited.

Details of the Transaction

Stamp Duty Payment and Sale Deed

The buyer has remitted a stamp duty payment of 4.75 crore , according to the document. January was the month in which the sale deed was recorded, per the document.

Property Specifications

The apartment is 10,813 square feet in size and includes five parking spaces, according to the document. Agarwal refrained from commenting on the transaction.

Sale of DLF Flat

A 11,000-square-foot flat by DLF in the same housing complex was sold for 114 crore last year. In 2014, DLF offered the Camellias in Gurugram for sale as bare shell luxury housing units, priced at ₹22,500 per square foot. According to Gurugram-based real estate consultants, the transaction has reduced the price differential between properties in Delhi and Gurugram.

Preferences of Flat Purchasers in Gurugram

Most flat purchasers in Gurugram are individuals from central or southern Delhi who, after selling their bungalows in Delhi, purchased luxury apartments as a lifestyle improvement.

Demand for Properties in Gurugram

Attraction Towards DLF Phase 5

"Delf phase 5, Gurugram has become the location of choice for senior executives of multinational corporations, businessmen, and startup founders; this is especially true for individuals with offices in the Gurugram area." Rich purchasers have been drawn to this condominium by DLF's unparalleled amenities and one of the finest golf courses in the country. As a result, its price per square foot is now comparable to that of prominent areas in Delhi and Mumbai, according to Amit Goyal, Managing Director of India Sotheby's International Realty.

Market Insights

Ultra-Luxury Residences

As the demand for ultra-luxury residences increases, the majority of affluent individuals acquire them for investment, personal use, or both. As of November 2023, a total of 58 ultra-luxury residences priced at or exceeding 40 crore were sold in seven main cities, according to a recent report by Anarock. These properties accumulated a sales value of 4,063 crore. Mumbai, with 53 of these opulent properties, was the leader.

Transactions in Delhi-NCR

Four transactions for two ultra-luxurious residences in Gurugram and two bungalows in Delhi were recorded by Delhi-NCR. The report stated that at least twelve transactions in 2023 were valued at or more than 100 crore, with ten of those transactions occurring in Mumbai and two in Delhi-National Capital Region.