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DLF's premium residential project, The Camellias, is once again in the limelight due to a string of high-profile property purchases.
Three prominent businessmen- Deep Kalra, Founder and chairman of MakeMyTrip, Sameer Manchanda of Den Networks, a cable TV and broadband service provider and Ashish Gurnan of Assago Group- have bought luxury apartments in DLF’s project ‘The Camellias’ in Gurgaon, according to documents accessed by CBRE Matrix, a property consulting firm.
Deep Kalra has bought a 7430 square foot (sqft) apartment for Rs 46.25 crore and paid a stamp duty of Rs 2.77 crore.
Booking and Payment:
The Kalras booked the apartment on June 15, 2023. They finalized the payment on December 16, 2023.
Apartment details:
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The apartment is quite spacious, measuring 7,430 square feet. It comes with the added convenience of four car parking slots.
Total Cost and Taxes:
The total purchase price for the apartment was Rs 46.25 crore (approximately $5.5 million).
A conveyance deed is a legal document that finalizes the transfer of ownership. The execution date for their conveyance deed was March 4, 2024.
Stamp duty is a tax paid on property purchases in India. Kalra paid a stamp duty of Rs 2.77 crore (approximately $330,000) on the purchase.
Second on the list is Sameer Manchanda, Chairman and Managing Director of Den Networks, along with his wife Kavita Manchanda. The couple purchased a sprawling 10,813 sq. ft apartment in The Camellias for a staggering Rs 37.83 crore. The agreement for the property was signed in December 2019, with the final payment completed in 2021. The official conveyance deed was registered on March 19, 2024, with a stamp duty payment of Rs 2.27 crore.
Another notable purchase comes from the Assago Group. Ashish Gurnani, son of CP Gurnani, the former MD of Tech Mahindra, who acquired a 7,430 sq. ft apartment in The Camellias. The deal, finalized sometime between December 2017 and May 2020, involved a price tag of Rs 21.75 crore. The conveyance deed was registered in March 2024, with a stamp duty of Rs 1.3 crore paid. This particular apartment also includes four dedicated car parking spaces.
Gurnani’s daughter Sanya Gurnani and wife Anita Gurnani also bought a 7,430 sq. ft apartment in The Camellias for Rs 21.75 crore, according to the documents. The conveyance deed for the property was executed on March 13, 2024. The Gurnanis paid stamp duty of Rs 1.08 crore for the apartment.
The Camellias has solidified its position as one of the most expensive residential projects in the National Capital Region (NCR). A recent analysis reveals that apartment deals at The Camellias were closed at prices ranging from a cool Rs 29,300 per sq. ft to a staggering Rs 62,247.6 per sq. ft between 2017 and 2023.
Today, these luxury apartments continue to command a premium. Sources close to the project suggest the average base selling price currently falls between Rs 65,000 per sq. ft and a sky-high Rs 85,000 per sq. ft, depending on the floor level. This translates to a starting price of approximately Rs 70 crore for an apartment at The Camellias.
The exclusivity extends to rentals as well. Unfurnished apartments at The Camellias start from a monthly rent of Rs 10.5 lakh, while furnished ones can set renters back a cool Rs 14 lakh.
The biggest deal done in 2023 was a re-trade / resale of an 11000 sq.ft. unit for Rs 114 crore.
This price surge is further underscored by recent high-profile purchases. In January 2024, Smiti Agarwal, Director at Wesbok Lifestyle and wife of V Bazaar CMD Hemant Agarwal, reportedly acquired an apartment at The Camellias for a whopping Rs 95 crore.
The Camellias' allure lies in its luxurious amenities, prime location in Gurgaon, and spacious living areas. With dedicated parking spaces and a focus on high-end living, the project caters to an elite clientele seeking an unparalleled lifestyle experience. However, the price tag ensures exclusivity remains firmly in place.
The Camellias, part of DLF Golf Links on the Golf Course Road, is now home to more than a dozen startup founders. According to data from CRE Matrix, a notable real estate analytics firm, an increasing number of prominent startup founders and corporate leaders have chosen to make their homes in this upscale area. Notable individuals such as Varun Alagh of Honasa, Ashneer Grover, former managing director of BharatPe, Aman Gupta, founder of boAt, Peyush Bansal, co-founder of Lenskart, Vikram Chopra, co-founder and CEO of Cars24, Anita Lal of Good Earth, Lokvir Kapoor of Pine Labs, and others have invested in apartments at The DLF Golf Links and The Camellias. Apart from the startup founders corporate honchos like JC Chaudhry, founder of Aakash Educational Services, Hemant Agarwal, CMD of V-Bazaar Retail, Puneet Bhatia of TPG Capital and Arvind Mendiratta of Hippo Stores among others who own a home here.
Golf Course Road, in the past few years, has established itself as one of the most luxurious real estate markets of NCR and beyond. Originally named after DLF founder Chaudhary Raghvendra Singh, this avenue has become the coveted address for billionaires and high-net-worth individuals, solidifying its status as India's newest billionaire boulevard.
Fueled by soaring demand among the super-rich and NRIs, Golf Course Road has evolved into a sanctuary for high rollers within Delhi-NCR. The area boasts of properties like Magnolias, Aralias, and The Camellias, nestled within DLF Golf Links.
"DLF Camelias is a marquee property developed by renewed developer brand - DLF. It attracts premium purely because of its location, built quality, amenities, brand DLF and limited inventory for elite select few," said Abhishek Kiran Gupta, CEO and Co-Founder at CRE Matrix.
