Demand soars for ultra-luxury mansions as real estate majors race to launch new offerings
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Print Edition: Nov 10, 2024
Palatial Splendour
In the months leading up to the festive season last year, the real estate market in the National Capital Region (NCR) of Delhi lit up unexpectedly, emerging from a prolonged period of dour sentiments. With an eye-popping deal setting a benchmark in the region, the market, despite its history of fraudulent realtors deceiving homebuyers for nearly a decade, captured the attention of industry stakeholders and homebuyers alike. The Camellias, an opulent ultra-luxury apartment complex on Gurugram’s Golf Course Road, witnessed the sale of an 11,000-sq.-ft four-BHK apartment for Rs 114 crore in October 2023, marking a significant milestone.
