There is a record for luxury real estate just now set in Gurugram. A penthouse apartment from DLF's luxury development "The Dahlias" on Golf Course Road in Gurugram was sold for ₹271 crore.
This is the highest amount paid for any residential apartment ever in the NCR region of Delhi and amongst the highest transactions recorded in all of India.
The point is – just to make things clear numerically – this one apartment alone is priced at more than most listed real estate companies make in a quarter-year period. Also, this amount was paid for a property that is even-handed in its raw form without any interior design and construction done.
Let us now look into the details of this transaction and understand what it means for the real estate sector of Gurugram.
| Project Name | The Dahlias, DLF, Sector 54, Gurgaon (Golf Course Road) |
| Buyer | Manav Sardana, an entrepreneur who had been associated with Imperial Auto Industries, which was subsequently acquired by Warburg Pincus |
| Value of the deal | INR 271 crores |
| Super built-up area | 17,200 square feet |
| Stamp duty paid | Rs 1.09 crore |
| Built-up area | 10,500 square feet |
| Cost per sq ft (super built-up) | Approximately INR 1.58 lakh |
| Cost per sq ft (built-up) | Nearly INR 2.6 lakh |
| Status | Most expensive single-unit |
The entrepreneur Manav Sardana has purchased a penthouse at DLF The Dahlias. The Dahlias is an ultra-luxurious residential development on Golf Course Road.The penthouse is listed at a price of ₹271 crore and covers a super area of 17,200 sq ft and carpet area of 10,500 sq ft. The price works out to around ₹1.58 lakh per sq ft in super area and ₹2.6 lakh per sq ft in carpet area.
However, the uniqueness of this transaction does not lie in the total cost. It lies in the per-square-foot carpet area – that is, the real size of usable square footage in the apartment. People who know about the transaction said that this was the costliest residential deal so far made in India.
It would be interesting to note that there is a prior instance of DLF property making headlines. In December 2024, businessman Rishi Parti purchased a penthouse at the adjacent DLF The Camellias project for ₹190 crore. The price translated to around ₹1.8 lakh per sq ft in carpet area.
The Dahlias were launched by DLF in late 2024. The project occupies roughly 17 acres in Sector 54 and comprises 420 homes built within a bunch of tall skyscrapers, some going up as high as 29 stories. These are all sold in the form of bare shells, meaning the buyer decorates the interiors themselves.
However, the key attraction is in the open area. The wider DLF Golf Course Road area provides ample open grounds, water bodies, and an exclusive clubbing atmosphere that other older condominiums of Gurugram cannot offer. At the time of this deal, DLF had already managed to sell nearly two-thirds of the project.
The deal of ₹271 crore eclipses the previous record within this particular project. There had been an investment of ₹120.7 crore by an investor, Madhusudan Kela, for purchasing the Dasilias building, which was itself a huge deal at that time. This deal is worth more than double this figure.
Mumbai still boasts some of the biggest property deals in India in terms of absolute monetary value. Mumbai industrialist JP Taparia once purchased a 27,160 sq. ft triplex located on Malabar Hill, Mumbai, for ₹369 crore, which was a higher figure than the Dahlias transaction. However, this Mumbai deal was one of many deals that were for multiple floors/buildings and not one single house.
This is the entire story in the transaction of the Gurgaon property. The price at which the property, which is a single penthouse, was sold is much more per square foot compared to other previous transactions carried out in Mumbai.
At the same time, real estate experts highlight the fact that this does not prove that Gurgaon has surpassed Mumbai completely in any way as far as such types of transactions are concerned. Mumbai has a much better market compared to Gurgaon.
However, while individual sales make news, the real picture becomes evident through annual sales statistics. As per the report of India Sotheby’s International Realty and CRE Matrix:
| Metric | Gurugram | Mumbai |
|---|---|---|
| Homes sold above ₹10 crore (2025) | 1,494 units | Lower unit count |
| Total value of ₹10 crore+ home sales (2025) | ₹24,120 crore | ₹21,902 crore |
| Total value of ₹10 crore+ home sales (2023) | ₹4,004 crore | - |
| Highest single-home resale rate | ~₹2.6 lakh/sq ft (Dahlias) | ~₹92,200/sq ft (Three Sixty West, Worli) |
In 2025, sales of residences above ₹10 crore stood at 1,494, worth ₹24,120 crore compared to ₹4,004 crore for 2023. The sale of residences has more than trebled in value, while units have multiplied nearly ten times.
The total amount from the ₹10 crore and above sales transactions in Gurugram surpassed Mumbai’s for the first time in 2025 – to the tune of ₹24,120 crore against Mumbai’s ₹21,902 crore.
However, when it comes to price per sq ft, Mumbai clearly scores a win. On the famous Altamount Road of Mumbai, which is known as the “billionaire row”, average price reaches around ₹98,200 per sq ft while some transactions are at ₹1 lakh per sq ft.
At the same time, the rate per sq ft in Gurugram on Golf Course Road is ₹27,000-₹30,000, while only a few ultra-luxury apartments in Gurugram, like The Dahlias and DLF The Camellias, exceed the 6-figure per sq ft mark.
Thus, the real picture is as follows:
Also Read: Virat Kohli Buy ₹18.29 Crore Apartment
There are some very obvious reasons for the surge:
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