DLF is expecting to launch around 400 bare shell ultra-luxury housing units which costs starting from Rs. 80,000 per sq.ft.
Real Estate major DLF LTD. is expecting to launch the country’s most costly uber luxury real estate project comprising more than 400 super luxury apartments in Gurugram with the starting price expected to be around Rs.80 crore.
Once the project is launched, the residential stretch along Golf Course Road in Gurugram, currently known as North India billionaires’ row, is expected to compete with not only ultra luxury properties in Mumbai’s Altamount Road and Delhi’s Lutyens area, that are primarily private residences, but also with New York’s billionaires’ street located in the southern edge of Central Park, said real estate.
To be known as The Dahlias, the project is expecting to be situated on the Golf Course Road in Gurugram and is likely to be spread across an area of more than 17 acres. It is expected to include more than 400 ultra-luxury apartments with prices starting at ₹80,000 per sq ft, people in the know said.The experts.
The size of the ultra-luxury apartments are expected to start from 9,500 sq. ft. and go all the way up to 16,000 sq ft, with an average size of 11,000 sq ft. Prices will start at ₹80,000 per sq ft. with an average ticket price of roughly ₹100 crore,” said Samir Jasuja, founder and CEO of PropEquity, a NSE-listed firm, adding all the units are expected to be bare shell.
‘The launch price of these bare shell units is expected to be around ₹80 crore and by the time these are delivered and finished by the buyer, the price would be more than ₹100 crore,” he said.
The clubhouse is most anticipating to spread across an area of approximately 2, 00,000 sq ft which is almost twice the size of Camellias.
Responding to this, Jasuja said that “the sales value of the upcoming ultra-luxury project is expected to be around ₹34,000 crore, which is almost 2.5 times the value of Camellias and any other project in India.
The sales value of DLF's The Dahlias is equivalent to the total sales value of Three Sixty West by Oberoi Realty in Mumbai, DLF Camellias in Gurugram and Naman Xana in Mumbai.
“The sizes of these apartments are expected to start at 9500 sq ft and go up to 16000 sq ft. In premium locations in Delhi such as Jor Bagh, Sunder Nagar, Golf Links the total size may not exceed 3000 to 6000 sq ft as Lutyens Bungalow Zone norms are applicable in some areas. Considering that the launch price is expected to be around ₹80,000 per sq ft, the total price of the ultra luxury unit may be compared with that of prices prevailing in Lutyens Delhi if not more, explains Jasuja.”
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