The year 2024 has been in favor of India's luxury real estate market. Witnessing record-breaking deals in ultra-luxury living, with increasing demand for premium properties in India. Even though Mumbai is known for its premium residential homes, Gurugram is now coming into the picture of the ultra-luxury real estate market in India.
Gurugram’s Joins The Elite
The new ultra-luxe DLF Camellias, a premium and lavish residential project in Gurugram is one of the major reasons that is driving the shift and making the headlines in the elite community. Making a new record in 2024, DLF Camellias is leading India’s luxury market while attracting wealthy homebuyers across the country
A major turn for Gurugram was seen when the CEO of Info-x Software Technology, Rishi Parti made a new national record by investing in an expansive 16,290-square-foot penthouse at DLF Camellias for a jaw-dropping ₹190 crore. This massive mansion is priced at ₹1,80,000 per square foot, making it one of the most expensive penthouses in the country.
This investment has made great hype in Gurugram’s real estate sales, raising a new landmark in the City’s luxury real estate market. This transaction has grabbed the attention of real estate professionals, investors, and high-net-worth individuals across the country and the globe. This attractions was also on other major deals, like:
1. Great White Global’s purchase of two apartments in Oberoi Three Sixty West in Mumbai for ₹225 crore.
2. Shreegopal Kabra, promoter of RR Kabel, buying a 13,809-square-foot apartment in the same building for ₹198 crore.
3. Asha Mukul Agrawal of Param Capital purchased three flats at Lodha Malabar in Mumbai for ₹263 crore.
These deals highlight just how active the luxury real estate market is right now, with Gurugram standing out as a key player.
What is attracting India’s Luxury Property Scene in Gurugram:
For years, Mumbai has been the center of India’s luxury real estate, drawing in business magnates, celebrities, and young entrepreneurs. But now, Gurugram is gaining momentum thanks to its proximity to Delhi and the rise of high-end developments.
According to Samir Jasuja, the founder of PropEquity, Gurugram has now claimed its place as India’s new luxury capital. He explains that more and more successful business owners, especially startup founders, are opting to live near their workplaces in Gurugram, making it a prime location for the country’s affluent crowd.
A big factor in this shift is iconic developments like DLF Aralias, which helped set the stage for luxury living in Gurugram 25 years ago. Today, projects like DLF Camellias are pushing the limits of luxury real estate in India, with incredible amenities and prime locations that are attracting the nation’s wealthiest buyers. Its ongoing appeal to high-profile buyers, from Bollywood celebrities to young entrepreneurs, keeps it in the lead.
Mumbai vs. Gurugram: Which City Leads the Luxury Market?
Gurugram is definitely on the rise, but Mumbai remains the top choice for luxury real estate. Santosh Kumar, Vice Chairman of Anarock India, points out that Mumbai continues to lead because of its prime locations and consistent supply of luxury properties. The city’s ability to attract high-profile buyers, from riches to entrepreneurs, keeps it on top.
As the luxury real estate market changes, Gurugram is quickly closing the gap. According to data from Anarock, 25 ultra-luxury deals (priced over ₹40 crore) were made in 2024 across cities like Mumbai, Hyderabad, Bengaluru, and Gurugram. While Mumbai still leads in the number of deals, Gurugram’s rapid growth shows it could soon become a major contender.
What’s Fueling the Boom in Ultra-Luxury Homes?
The rise of ultra-luxury real estate in India comes down to increasing wealth, changing lifestyles, and a desire for more spacious, thoughtfully designed homes with high-end amenities. Buyers aren’t just looking for a roof over their heads they’re after a complete experience and cutting-edge features that redefine luxury.
Developments like DLF Camellias are pushing the boundaries of luxury living. These projects offer more than just beautiful homes they come with amazing amenities like private pools, smart home systems, and expansive terraces with breathtaking views. As demand for these kinds of properties grows, experts expect the trend to keep gaining momentum in 2025.
What’s Next for Luxury Real Estate in India?
As the luxury real estate market keeps growing, Gurugram is in a strong position to keep rising. With its impressive new projects, improved infrastructure, and business-friendly vibe, the city is quickly becoming the go-to place for those seeking high-end living.
India’s luxury real estate market is evolving, and Gurugram is at the forefront. With record sales and a growing number of upscale developments, the city is proving it’s more than just a business hub it’s becoming the future of ultra-luxury living in India. Whether you’re an investor, a homebuyer, or just someone who appreciates luxury, Gurugram is definitely the place to keep an eye on in the years ahead. Gurugram is where you’ll want to focus your attention in the Indian real estate market.