It was a week when penthouses stole the spotlight, one in the north, the other in the south. A ₹271-crore penthouse at DLF’s The Dahlias catapulted Gurugram deeper into India’s ultra-luxury real estate league, prompting a bigger question: is the NCR city finally closing the gap with Mumbai, the country’s traditional luxury housing benchmark? In Hyderabad, meanwhile, a ₹62-crore penthouse deal at the upcoming Vaastu-compliant Trump Towers Hyderabad offered another sign of the city’s growing luxury credentials, setting a new standard for South India’s premium residential market.
Faridabad entrepreneur Manav Sardana, who was associated with Imperial Auto before the company was acquired by the global private equity firm Warburg Pincus, has bought a penthouse at The Dahlias for ₹271 crore, according to sources.
The 17,200 sq ft penthouse has a carpet area of 10,500 sq ft. The transaction works out to around ₹1.57 lakh per sq ft on the super area and nearly ₹2.58 lakh per sq ft on the carpet area. The carpet-area pricing makes the transaction particularly significant, sources said.
Two people aware of the transaction said it is the country’s costliest single-unit residential deal on a per-square-foot basis. If so, Gurugram has crossed into territory traditionally associated with Mumbai’s most tightly held trophy addresses.
Mumbai, after all, continues to command the country’s highest residential prices. In Worli, Malabar Hill and other prime neighbourhoods, transactions have crossed ₹2 lakh per sq ft.
Last year, Leena Gandhi Tewari bought two sea-facing duplexes at Naman Xana in Worli for around ₹639 crore. J P Taparia acquired a 27,160 sq ft triplex in Malabar Hill for ₹369 crore a few years ago.
The ₹271-crore Dahlias deal may not match Mumbai’s biggest ticket sizes, but its per-square-foot pricing shows how quickly Gurugram’s ultra-luxury market is moving. And this isn’t an isolated transaction.
In December 2024, entrepreneur Rishi Parti bought a 16,290 sq ft penthouse at DLF’s The Camellias for ₹190 crore, translating to around ₹1.8 lakh per sq ft on carpet area.
In October 2025, Hindustan Times Real Estate reported that a Delhi-NCR industrialist had bought four apartments at The Dahlias, totalling nearly 35,000 sq ft, for around ₹380 crore. The adjoining units were reportedly to be interconnected to create one expansive residence.
During a recent investor call, DLF’s MD and chief business officer Aakash Ohri said prices in The Dahlias currently range from around ₹100 crore on lower floors to ₹160-170 crore at the higher end.
The project, located on Golf Course Road, comprises 420 residences across eight towers and 29 levels and has been positioned as one of DLF’s most ambitious super-luxury developments, with a project value of more than ₹40,000 crore.
Does Mumbai still hold the luxury crown?
Mumbai remains difficult to beat when it comes to absolute land scarcity, sea-facing locations and established luxury addresses. But Gurugram has a different proposition. It offers large-format residences, newer infrastructure, proximity to Delhi’s wealth centres, an expanding corporate ecosystem and increasingly ambitious luxury developments, say real estate experts.
The entry of developers such as Oberoi Realty and Lodha into Gurugram’s premium market could further intensify competition and push price benchmarks higher, they say.
The ₹271-crore deal, therefore, matters beyond a single buyer or a single project. It suggests that the gap between Mumbai and Gurugram at the very top end of the market is narrowing, they say.
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