DLF, CCI’s ultra-luxury, premium homes find traction in NCR, Mumbai

The recent post annual results analysts’ call by DLF Ltd, India’s biggest real estate company, provides a glimpse of the price appreciation at it’s super luxury projects in Gurugram which are now fetching ₹135 crore to ₹150 crore per residences. 

Following the success of it’s ultra luxury project Camellias, it’s new project Dahlias is attracting attention of the HNIs and seeing high price appreciation, top company officials told the analysts.

 Similarly upper mid segment homes on Mumbai and Bangalore priced in the range of ₹1 crore to ₹5 crore are getting traction said developers. 

Aakash Ohri, Managing Director and Chief Business Officer, DLF Home Developers Ltd said, “Our super-luxury residential project, The Dahlias, continued to witness strong demand and significant price appreciation and we sold 32 apartments in the March quarter alone.”

This project emerged as one of the key contributors to DLF’s quarterly sales bookings, helping the company close FY26 with total sales bookings of over ₹ 20,000 crore, he said.

He said at The Dahlias already nearly 60% of its inventory has been sold and the project has witnessed sharp appreciation in pricing since launch.

“When we started off, what was priced at about ₹60 crore is now ₹ 90 crore, and what was about ₹75 crore is now about ₹ 110 crore,” Mr Ohri said.

He added that new inventory at the project is now touching approximately ₹135 crore per residence.

According to management commentary, residences with different orientations are commanding varying premiums. North-facing residences overlook the lake and greens, while south-facing residences face the Aravalli range, with price differences ranging between ₹20 crore and ₹30 crore depending on apartment configuration and location.

The company highlighted that the project has achieved pricing milestones significantly ahead of expectations.

“The good thing is that The Dahlias has caught up much faster than we expected it to. We thought we would achieve this target in about four years, but we’ve done it in about a year and a half in terms of per square foot realization,” Mr Ohri said.

Responding to analyst queries, Mr Ohri said The Dahlias is now “almost at par” with The Camellias, [the prestigious ultra luxury project of the company] on a like-to-like pricing basis. 

He added that while The Camellias currently is priced between ₹80 crore and ₹150 crore per apartment, The Dahlias has already reached average pricing of nearly INR 1 lakh per sq ft for south-facing residences.

The project continues to form a key part of DLF’s luxury residential pipeline for FY27. 

“For DLF, the strong response to The Dahlias reinforces the growing appetite for branded, hospitality-led luxury residences among India’s affluent homebuyers and further strengthens Gurugram’s position as one of the country’s leading super-luxury residential markets,” the company said. 

RivaliPark 2 finds strong interest 

In suburban Mumbai CCI Projects Ltd, the developers of RivaliPark 2 in Borivali East which has launched a tower called Skyleap, has reported strong interest from buyers. 

“In a short span of time since entering the market in November last year, the project has sold over 60% of its inventory within 6 months, reflecting a growing preference for premium residences that bring together thoughtful design, strong connectivity and long-term value,” the firm said in a statement. 

Rohan Khatau, Director, CCI Projects said that the early sales momentum reflects how buyer expectations in Mumbai have evolved, with home seekers now prioritising lifestyle-led living over only carpet areas or pricing.

“Skyleap’s 60% inventory sold so far on the back of rising demand,” Mr Khatau said adding that the pace of absorption has been encouraging and consistent since launch.

“The premium segment is being driven by a more informed buyer profile, one that evaluates projects on a wider set of parameters. Buyers are no longer just purchasing a home — they are purchasing into an upgraded aspiration of life,” he said.

 “The premium segment has remained steady because buyers in this category are investing with a long-term lens. They value quality, credibility, and long-term capital appreciation,” he noted.

Mr Khatau said the demand for quality residences would remain strong, particularly for developments that offer the right mix of location advantage and product quality. 

Apartments in this project are priced in the range of ₹2.5 crore to ₹5 crore. 

₹ 1-3 crore homes in new sweet spot 

In Bengaluru and some other metros, the ₹1–3 crore housing segment has clearly emerged as the new sweet spot, according to developers.

“In Q1 2026, homes priced above ₹1 crore accounted for nearly 70% of total sales across top cities, up from less than 60% a year ago, while the ₹1.5–3 crore category alone saw significant growth,” said Sunil Pareek, Executive Director, Assetz Property Group.

“Its not a cyclical thing, this reflects a deeper structural shift with metros like Bengaluru evolving into techinnovation and high-income hubs, and buyers today are upgrading towards larger, amenity-rich, lifestyle-led homes rather than just functional housing,” he added.

Published – May 16, 2026 10:02 pm IST