In 2024, Gurugram emerged as a strong competitor to Mumbai and Dubai in terms of real estate. Recently, the DLF Camellias project in Gurugram has set new records, including a ₹190 crore deal for a 16,290-square-foot penthouse, making it India’s most expensive high-rise condominium.
“The most notable transaction was the purchase of a 16,290-square-foot penthouse at DLF Camellias by a top executive in the tech industry for a staggering ₹190 crore. This equates to an astonishing ₹1,80,000 per square foot, firmly establishing Camellias as India’s most expensive high-rise condominium,” as quoted Financial Express, Pradeep Mishra, CMD of ORAM Developments.
Mumbai continues to lead in luxury real estate deal volume, with key neighborhoods like Juhu, Malabar Hill, and Bandra seeing high property prices. Notable price ranges include ₹55,000-₹60,000 per sq. ft. in Juhu and ₹45,000-₹50,000 per sq. ft. in Cuffe Parade.
Dubai’s luxury market also remains competitive, with prime locations like Palm Jumeirah seeing prices from ₹1,00,000 to ₹10,00,000 per sq. ft. Gurugram’s rise is driven by entrepreneurs and industrialists seeking proximity to their workplaces. “Gurugram has emerged as the new luxury capital of India, surpassing Delhi and Mumbai. Entrepreneurs and industrialists prefer to live closer to their workplaces in Gurugram, making it a hub for the elite,” says Mishra.
In 2024, 25 ultra-luxury deals above ₹40 crore were recorded across Mumbai, Hyderabad, Gurugram, and Bengaluru, totaling ₹2,443 crore, with Mumbai leading the deal count.
