India’s luxury housing market has hit a new milestone with a US$28.5 million (Rs 240 crore) deal for an under-construction apartment at DLF’s The Dahlias in Gurugram. The 17-acre, ultra-premium project on Golf Course Road features expansive 4–6 BHK units and has already logged sales of 221 apartments worth nearly Rs 16,000 crore, underscoring surging demand from India’s wealthiest buyers.
DLF began in 1946 as Delhi Land and Finance, founded by Chaudhary Raghvendra Singh to house families displaced by Partition. Its first project, Krishna Nagar in East Delhi, was completed in 1949. When the Delhi Development Act of 1957 restricted private developers within the capital, the company moved into what was then a largely unknown stretch of agricultural land across the border: Gurugram. Eight decades on, that same corridor has produced the most expensive residential transaction India has ever recorded.
DLF has recorded a residential transaction valued at approximately USD 28.5 million (approx. Rs. 240 crore) for an under-construction apartment at The Dahlias, its ultra-luxury development within DLF Golf Links, Gurugram. It is one of the highest-value residential transactions recorded in India to date, and notably, a single home rather than a combined or multi-apartment purchase, a distinction that separates it from many of Mumbai's own record-setting residential deals.
The Dahlias spans 7.5 million square feet across eight towers on Golf Course Road in Gurugram's Sector 54, directly across from DLF's existing super-luxury project, The Camellias. The development comprises 420 residences, including 15 duplex penthouses, alongside a 3.5 lakh square foot clubhouse. It launched in October 2024. DLF has estimated the project's overall value at over Rs. 40,000 crore. As of the company's Q1 FY27 analyst call, Aakash Ohri, Managing Director and Chief Business Officer at DLF Limited, confirmed the project is almost 65 per cent sold. "The Dahlias is almost 65 per cent sold, with over 20 per cent of the business coming from markets outside Delhi-NCR, including close to 12 per cent from NRI markets," Ohri said. "The NRI contribution includes markets such as the USA, Singapore, Dubai, London and Australia, while buyers from the rest of India include Mumbai, Ludhiana, Kolkata, Bhubaneswar, Bengaluru and Chandigarh."
Ohri also confirmed the project's pricing trajectory. "The Dahlias has seen strong price realisation, with prices now crossing Rs. 1 lakh per square foot, while higher floors are touching Rs. 1.20 to 1.25 lakh per square foot on super area," he said. "The current entry-level price is above Rs. 100 crore per residence, with prices going up to around Rs. 160 to 170 crore. The sustained demand from across India and international markets reflects the growing appeal of The Dahlias as a destination for ultra-luxury homebuyers." Several individual transactions at The Dahlias and its sister project, The Camellias, illustrate that trajectory. Former India cricketer Shikhar Dhawan purchased an apartment at The Dahlias for approximately Rs. 69 crore. Veteran investor Madhusudan Kela bought a residence there for Rs. 120.7 crore. An industrialist purchased four Dahlias apartments totalling over 35,000 square feet for approximately Rs. 380 crore. At The Camellias, Rishi Parti bought a 16,290 square foot penthouse for Rs. 190 crore in December 2024, at roughly Rs. 1.8 lakh per square foot on carpet area, while Ajit Jain purchased a 7,400 square foot apartment for approximately Rs. 85 crore. Several other Camellias residences have also crossed the Rs. 100 crore mark.
The transaction reflects a broader expansion of Gurugram's high-end housing market. According to a 2026 report by India Sotheby's International Realty and CRE Matrix, Gurugram recorded Rs. 24,120 crore in residential transactions for homes priced at Rs. 10 crore and above in 2025 alone. At this end of the market, buyers are paying for location, scarcity, privacy, security, and brand rather than square footage alone. Gurugram's Golf Course Road corridor has increasingly positioned itself as an alternative to a standalone bungalow in Lutyens' Delhi or a farmhouse on the capital's outskirts, a shift that, for India's ultra-high-net-worth buyers, both resident and diaspora, shows no sign of slowing.