DLF sells ₹120 crore apartment to Madhusudan Kela in ‘The Dahlias’ project, Gurugram
BENGALURU: Veteran investor Madhusudan Kela has bought a 6,233 square foot apartment in top real estate firm DLF Ltd's super-luxury project The Dahlias in Gurugram
BENGALURU: Veteran investor Madhusudan Kela has bought a 6,233 square foot apartment in top real estate firm DLF Ltd's super-luxury project The Dahlias in Gurugram for ₹120 crore. The apartment is on the 20th floor in Tower 1 of the under-construction project and comes with five car parks, according to registration documents accessed by CRE Matrix, a real estate data analytics firm. The Dahlias, located in DLF City Phase 5, was launched at the end of 2024 and has 420 residences valued at ₹43,350 crore. The developer has sold almost 60% of its inventory and the project’s prices have appreciated sharply since launch. This project alone is expected to generate ₹5,000 crore-6000 crore of DLF's ₹20,000 crore sales target for FY27.
In FY26, DLF sold 56 residential units in The Dahlias for ₹4,824 crore. Mumbai-based Kela did not respond to Mint's queries. A DLF spokesperson declined to comment. According to Abhishek Kiran Gupta, CEO of CRE Matrix, the ₹120 crore transaction at The Dahlias is another strong signal that India's ultra-luxury housing market has evolved beyond a niche segment and is increasingly becoming a preferred asset class for wealth preservation among HNIs (high-net worth individuals) and UHNIs (ultra high-net worth individuals). “What is particularly noteworthy is that buyers are willing to commit over ₹100 crore for under-construction inventory, reflecting deep confidence in branded luxury developments, execution credibility and the long-term appreciation potential of marquee addresses," Gupta said. He said that as wealth creation accelerates across India, trophy residences are emerging as a distinct investment category, much like prime assets in London, New York and Dubai.
Gurugram has emerged as the country's fastest-growing high-end luxury residential market, recording ₹24,120 crore in transactions for homes priced ₹10 crore and above in 2025, according to a February report by India Sotheby’s International Realty and CRE Matrix. Growing momentum In its post-earnings analyst call in May, DLF executives highlighted the growing momentum in Gurugram’s ultra-luxury housing market, which is increasingly being compared with Mumbai’s premium residential segment. The Dahlias, one of the most sought-after projects in Gurugram today, has witnessed good demand and price rise. “When we started off, what was about ₹60 crore is now ₹90 crore, and what was about ₹75 crore is now about ₹110 crore,” Aakash Ohri, managing director and chief business officer of DLF Home Developers' Ltd, told Mint in May, adding that new inventory in The Dahlias project is now touching about ₹135 crore per residence.
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