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India Today
26-05-2025
- Business
- India Today
The billionaire blueprint: Inside DLF's ultra-luxury playbook
On a quiet morning, a Rolls-Royce pulls up to the entrance of The Camellias in Gurugram. Inside, a business tycoon with a net worth of crores is finalising the purchase of his third DLF property. Across the corridor, a celebrity is seen walking around his French to the new epicentre of ultra-luxury in India, where DLF isn't just selling apartments, it is curating a billionaire lifestyle and cashing in on the growing trend of 'living life king-size'.DLF Limited, one of India's largest listed real estate developer, is leading the way in the country's fast-growing luxury real estate company has seen strong growth in its financial performance in recent quarters, driven by demand for its premium homes among the country's apartments priced upwards of Rs 50 crore and even a Rs 190 crore penthouse sale, DLF is riding the real estate boom by targeting the top 1% and winning the March 2025 quarter, DLF reported net sales of Rs 2,235.87 crore, a jump of 138.8% from Rs 936.74 crore in the December 2024 rise shows how strong the interest has become in DLF's projects. The company's income from operations has also steadily increased over time, up from Rs 903.58 crore in Q2 FY24-25 to Rs 936.74 crore in Q3, before the major rise in the March quarter.A STRONGHOLD IN GURGAON DLF Camellias (Photo: Hardik Chhabra) DLF has found huge success in Gurgaon's Phase 5 area, where its ultra-luxury developments, The Aralias, The Magnolias and The Camellias, have become well-known names among India's Kumar, Vice Chairman of ANAROCK Group, said, 'DLF is famous for their luxury, high-end projects in key locations like Golf Course Road in Gurugram. Some of their luxury projects, like The Camellias, The Magnolias and The Dahlias, offer large, exclusive homes together with first-rate facilities. These properties have shown considerable capital appreciation and rental returns, which attracts ultra-high-net-worth customers who find their customisable 'bare shell' options particularly appealing.'DLF is not alone in this space. Other large players such as Godrej, Prestige, and Macrotech are also entering the luxury and ultra-luxury segment. But as of now, DLF seems to be riding a wave of favourable market conditions and strong post-pandemic financial SALES AND PREMIUM PRICESIn another sign of rising demand, DLF crossed its full-year FY25 booking target within the first nine months of the financial was largely due to the success of its newest project, The Dahlias, an ultra-luxury residential project in Gurgaon. All 173 units were sold at an average price of Rs 70 crore each, proving DLF's ability to command some of the highest rates in India's residential noteworthy to mention that one of the most talked-about deals took place in December 2024, when DLF sold a 16,290 sq ft penthouse at The Camellias for a record Rs 190 is believed to be the most expensive property sold in Delhi-NCR based on price per square foot. It highlighted the strong demand for unique, high-value assets among India's OF LUXURY HOME SALES IN INDIAThe demand for luxury and ultra-luxury homes has grown since the Covid-19 pandemic, with many high-net-worth individuals (HNIs) looking for spacious, comfortable and private homes that reflect their lifestyle and status. Some also see such properties as secure investments that are likely to grow in value over to a recent report by CBRE South Asia, luxury home sales (homes priced at Rs 4 crore and above) in India's top seven cities rose by nearly 28% in the January to March 2025 quarter compared to the same time last year. A total of 1,930 luxury units were sold in Q1 2025, up from 1,510 units the year led the way, accounting for about 49% of total sales, or around 950 Santhosh Kumar of ANAROCK said it's important to understand the market clearly.'We cannot call the increased interest for ultra luxury a 'shift', per se. This segment is a specialised market that caters to a small wealthy demographic and does not reflect wider housing demand in India. That said, there is indeed strong demand for ultra luxury offerings from both resident and non-resident HNIs who are constantly looking for trophy assets and secure investments.'WHY GOLF COURSE ROAD IS BECOMING 'BILLIONAIRE'S ROW' Gurgaon's Golf Course Road has turned into a top choice for ultra-rich homebuyers. It is now seen as North India's answer to New York's Billionaires' Row or London's Mayfair.'Gurgaon's Golf Course Road has a notable concentration of ultra-luxury residences with high-end amenities, and this makes it a prime location. Prices for ultra-luxury apartments and villas by branded players can sell at as much as Rs 80 crore and more. This sends unmistakeable signals to the market and attracts more affluent buyers,' said added that the area is attractive because it is close to key business hubs, top international schools, premium malls and offers excellent road and metro connectivity. There is also limited supply in the area, which adds to the exclusivity and keeps prices competition is rising. 'It caters to a very niche demographic and faces competition from upcoming luxury corridors such as Golf Course Extension Road,' Kumar BUSINESS TYCOONS LINE UP FOR DLF HOMESDLF properties continue to draw attention from top industry figures, entrepreneurs, and celebrities, all eager to own a slice of its luxury real to data from real estate analytics firm CRE Matrix, cricketer Shikhar Dhawan recently purchased an apartment worth around Rs 69 crore in DLF's new high-end residential project, The Dahlias, situated on Golf Course Road in reports suggest that several well-known names have invested in DLF's premium include MakeMyTrip founder and chairman Deep Kalra, Den Networks' Sameer Manchanda and his wife Kavita Manchanda, Lenskart's founder Peyush Bansal, and members of the Dhanuka family. Others such as Ashneer Grover, Aman Gupta, JC Chaudhry, Rishi Parti, and Puneet Bhatia have also been associated with DLF's ultra-luxury Singh Jaggi, promoter of Gensol Engineering Limited, has also been linked to DLF's luxury offerings. He is currently embroiled in a controversy involving DLF's The Camellias project. As per an interim order by Sebi, Jaggi has been accused of misusing company funds to buy a high-end apartment in the Gurugram-based THIS DEMAND CONTINUE?With strong economic growth and rising wealth in India, demand for luxury housing still looks strong. Last year saw record sales in this segment, with about 30% growth over the previous year.'As of now, the demand for ultra-luxury homes in India remains quite robust. India is witnessing a high growth in the numbers of its HNIs, as well as robust economic growth. The supply of relevant luxury offerings in prime residential locations is limited and prices are on a strong upward trajectory,' said he added a note of caution, 'India's luxury housing market is not yet close to saturation point, but we will have to watch future demand as it will be significantly influenced by macroeconomic dynamics.'DLF Ltd has announced plans to launch residential projects worth over Rs 17,000 crore in the current financial year, aiming to tap into the rising demand for luxury housing. advertisement
News18
03-05-2025
- Business
- News18
Panchkula Real Estate: Tricity Prices Rival NCR As Luxury Housing Soars
DLF, India's largest real estate developer, reports a 26.7 per cent price appreciation in its Panchkula project, The Valley Gardens. Panchkula, part of the Tricity region alongside Chandigarh and Mohali, has seen its real estate market evolve significantly, with property prices now rivaling those in the National Capital Region (NCR). DLF Limited, India's largest real estate developer, has reported a 26.7 per cent price appreciation in its Panchkula project, The Valley Gardens. Launched at Rs 8,329 per sqft, prices have now reached Rs 10,556 per sqft, underscoring the rising demand for luxury housing in Tier-II cities. DLF's The Valley Gardens, spanning 34 acres, with independent luxury floors on 500 square yard plots, with a built-up area of 3,500 sqft. The project generated revenues surpassing Rs 1,150 crore. A recent Rs 4 crore transaction for a single unit has further set a benchmark for high-value sales in the region, reflecting growing affluence among buyers in smaller cities. Special demand is coming from buyers from the NCR region over and above the local market, due to proximity to the NCR. DLF's last launch, The Valley Orchard, launched in December 2023, added 512 low-rise units to Panchkula's housing stock and has already recorded a 5.5 per cent price increase within months. This aligns with a broader trend of buyers moving to Tier-II cities for better air quality, improved infrastructure, and lifestyle amenities. Trident Realty said it is also expanding fast in Panchkula. It has established a strong presence in North India with a portfolio of landmark projects such as Trident Hills Township, and Windsong Residences, Panchkula; Trident Hills Township, spread over 200 acres at the foothills of the Shivaliks, offers a blend of luxury living, modern amenities, and lush green landscapes, making it a premier choice for discerning homebuyers in Panchkula. Parvinder Singh, CEO of Trident Realty, said Panchkula's luxury housing market isn't just growing — it's rewriting the rules. Imagine sprawling homes where modern design meets Shivalik vistas, where every corner whisper exclusivity. Buyers aren't just investing in bricks and mortar; they're claiming a lifestyle where serenity meets sophistication. With unbeatable connectivity, world-class amenities, and a surge of aspirational buyers, Panchkula isn't just keeping pace with the NCR — it's setting the benchmark. This isn't a trend; it's a revolution. The message is clear: luxury here isn't about living — it's about thriving. Panchkula's proximity to Chandigarh, Shimla, and key industrial hubs enhances its appeal, but the rapid price escalation raises concerns about long-term affordability and market sustainability. While the Tricity region emerges as a key player in India's luxury housing market, its growth trajectory will depend on balancing demand with infrastructure readiness and inclusivity. India's real estate market, which currently contributes 7 per cent to the nation's GDP in 2024, is estimated to rise further to reach 13 per cent by 2025 and 18 per cent by 2047. This growth trajectory aligns with India's ambitious goal of a $26 trillion economy by its 100th year of independence. The real estate market is projected to grow from a value of $300 billion in 2024 to $1 trillion by 2030, with a long-term outlook pointing to a remarkable $4.8 trillion by 2047, according to a CREDAI-EY report. First Published: May 03, 2025, 14:41 IST
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Business Standard
23-04-2025
- Business
- Business Standard
Amid stock market volatility, NRIs turn to luxury realty for stable returns
In the face of ongoing global market volatility and corrections in equities, Non-Resident Indians (NRIs) are increasingly turning to India's luxury real estate sector as a safer and more rewarding investment avenue. The Indian real estate market is projected to grow at a compound annual growth rate (CAGR) of 9–11% and surpass $1 trillion by 2030, driven by urbanization, infrastructure expansion, and rising demand for premium housing. "The real estate sector is not only outperforming expectations but is on track to deliver its third consecutive record-breaking year in sales. In the top seven cities, total residential sales in 2024 are projected to exceed INR 5.1 trillion, with more than 300,000 units sold," said a report by GRI Club, an international real estate company. The report stated that cities such as Mumbai, Gurgaon, and Bangalore have seen particularly high demand for ultra-luxury residences, with absorption rates reaching new heights. The trend reflects a growing preference among buyers for high-end, amenity-rich homes that offer exclusivity and superior lifestyle features. Developers report that NRIs now account for 15–25% of investments in newly launched projects, underlining their growing interest. Cities like Gurugram, Delhi, Mumbai, and Bengaluru remain top choices due to their modern infrastructure, economic vibrancy, and high-end living spaces. For instance, DLF Limited's recent super-luxury offering, The Dahlias, announced pre-formal launch sales of Rs 11,816 crore, with 12% coming from NRIs as of January 27, 2025. Factors Driving NRI Investments: Several factors contribute to the growing wave of NRI investments: Depreciating Rupee: A weaker rupee enhances the value of NRI investments in India. Government Initiatives: Simplified tax regimes and benefits like indexation have made investing in India more appealing. Developer Offerings: Luxury amenities, digital transactions, and flexible payment plans cater to NRI preferences. Regional Insights: Gurugram: Gurugram has solidified its status as a premier NRI investment destination. Leading developers like DLF Limited have reported a sharp increase in NRI contributions, signaling growing trust in the Indian realty market. Mumbai: Mumbai is now among the top 10 luxury residential markets globally, ranked 8th in terms of price growth in luxury housing. The city has seen a 10% year-on-year growth in luxury residential prices. Bengaluru and Delhi: Both cities have demonstrated positive momentum, with Delhi improving its rank to 37th and Bengaluru to 59th in the global luxury housing market. "NRIs from the United States, United Kingdom, United Arab Emirates, Canada, and Singapore have shown the highest interest in Indian real estate. These regions host affluent Indian communities with the financial capacity and aspiration to invest in high-value properties. NRIs accounted for 23% of DLF's total sales in FY24, the highest in recent years. This marks a substantial rise from 14% in FY23 and 5% in FY22. Additionally, in specific projects like Privana West in Gurugram, nearly 27% of units were bought by NRIs, underscoring their strong preference for luxury living," said Aakash Ohri, joint managing director and CBO, DLF Home Developers Ltd. Housing sales in India's eight prime residential markets dipped 26% in the October-December period of 2024 when compared to the same quarter last year, according to a report by digital real estate transaction & advisory platform However, Delhi NCR market stood out as the only region among the top eight cities to register positive growth in new home sales, with 9,808 units sold in Q4 (Oct-Dec 2024), a significant rise from 6,528 units in the same period last year. Among the most favored locations in Northern India, the tri-city region of Chandigarh, Mohali, and Panchkula stands out as a prime destination for NRI investments. 'As global markets remain unpredictable, we're seeing a clear and growing preference among NRIs for India's luxury real estate as a stable and appreciating asset class. This shift is not just a reaction to volatility in equities—it reflects a broader confidence in India's economic trajectory and the value our premium real estate markets offer. The growth momentum in cities like Gurugram reinforces our commitment to deliver high-quality developments that meet the aspirations of global Indians looking for both investment security and elevated lifestyles.', said Ankush Kaul, President - Sales, Marketing & CRM, Central Park.. Delhi-NCR has pipped Mumbai and Hyderabad to emerge as the top selling housing market across nine cities in 2024 owing to 66% growth in sales value in Gurugram alone. With this, Delhi-NCR has breached the ₹1 lakh crore sales value threshold, a report by PropEquity noted. The total sales value of Delhi-NCR rose by 63% in 2024 to ₹1.53 lakh crore while that of Mumbai stood at ₹1.38 lakh crore, up 13% and Hyderabad at ₹1.05 lakh crore, down 18%, according to a report by NSE-listed real estate data analytics firm housing market witnessed strong demand for luxury homes last year with sales rising 66% to nearly ₹1.07 lakh crore last year from ₹64,314 crore in 2023 calendar year, according to PropEquity. The total sales value of Gurugram, at ₹64,314 crore in 2023, was nearly half of Hyderabad with the former surpassing the latter in 2024. In response to lukewarm domestic sales, developers are organizing roadshows in countries with large Indian diaspora populations, such as the US, UK, Australia, Singapore, and Dubai, to attract NRI buyers . This strategic focus on NRIs underscores their growing influence in India's real estate market, especially in the luxury segment, as developers seek to leverage the purchasing power of the Indian diaspora. Apart from individual buyers, family offices and institutional investors are also expanding their investments in luxury real estate. Many are channeling funds into structured real estate investments and alternative financial instruments, viewing luxury properties as a stable and appreciating asset class, especially amid stock market fluctuations. "Many of these investors are deploying capital into structured real estate funds and alternative investment vehicles, viewing luxury properties as a stable, appreciating asset class amid stock market volatility. NRIs, in particular, are playing a key role in this expansion," said the GRI Club report.
