Delhi-NCR real estate deal: DLF flat in Gurgaon sold for ₹95 crore - Hindustan Times | Canada News Media
Connect with us

Real eState

Delhi-NCR real estate deal: DLF flat in Gurgaon sold for ₹95 crore – Hindustan Times

Published

 on


By
Feb 21, 2024 05:16 PM IST

Realty consultants said that the real estate deal in The Camellias by DLF has narrowed the price difference of properties in Delhi and Gurugram

Delhi-NCR’s uber luxury housing market is on a dream run. In the latest deal, a 10,000 sq ft apartment at The Camellias by DLF in Gurgaon’s posh Golf Course Road has sold for 95 crore, documents accessed by CRE Matrix showed.

<source media="(max-width:767px)" srcset="https://www.hindustantimes.com/ht-img/img/2024/02/21/400×225/Camellias_club_1708515684878_1708515690140.jpeg" alt="A 10,000 sq ft apartment at The Camellias by DLF in Gurgaon's posh Golf Course Road has sold for 95 crore” title=”A 10,000 sq ft apartment at The Camellias by DLF in Gurgaon’s posh Golf Course Road has sold for 95 crore”> <img src="https://www.hindustantimes.com/ht-img/img/2024/02/21/550×309/Camellias_club_1708515684878_1708515690140.jpeg" alt="A 10,000 sq ft apartment at The Camellias by DLF in Gurgaon's posh Golf Course Road has sold for 95 crore” title=”A 10,000 sq ft apartment at The Camellias by DLF in Gurgaon’s posh Golf Course Road has sold for 95 crore”>
A 10,000 sq ft apartment at The Camellias by DLF in Gurgaon’s posh Golf Course Road has sold for 95 crore

The seller is a Singapore-based NRI who has sold the apartment to Smiti Agarwal, wife of Hemant Agarwal, CMD at V Bazaar Retail Pvt Ltd. Smiti Agarwal is director at Wesbok Lifestyle Pvt Ltd.

Hindustan Times – your fastest source for breaking news! Read now.

The stamp duty paid by the buyer amounts to 4.75 crore, the document showed.

The sale deed was registered in January, according to the document.

Also Read: DLF sells luxury residences in Privana South in Gurugram for over 7,200 crore ahead of official launch

The apartment size is 10,813 sq ft and it comes with five car parkings, the document showed.

Hemant Agarwal did not comment on the deal.

Last year, a 11,000 sq ft apartment in the same housing complex by DLF was sold for 114 crore.

Also Read: Delhi-NCR’s real estate market: Here’s why rich Indians are lapping up luxury properties

The Camellias in Gurugram were sold by DLF as bare shell luxury housing units in 2014 at a rate of 22,500 per sq ft.

Real estate consultants active in Gurugram said that the deal has narrowed the price difference of properties in Delhi and Gurugram.

Also Read: Is capital appreciation the key motivation for rich real estate investors to buy luxury properties?

Most apartment buyers in Gurugram are from south Delhi or central Delhi who have bought luxury apartments for a lifestyle upgrade after selling their bungalows in Delhi

Also Read: Luxury housing sales record 75% growth in 2023 on the back of robust demand: Report

“DLF phase 5, Gurugram has emerged as the preferred choice for startup founders, senior executives of MNCs, and businessmen, more so for people having their workplaces in and around Gurugram. One of best golf course along with unmatched amenities offered by DLF has attracted the wealthy buyers into this condominium and it now commands per square foot price at par with prime areas of Delhi and Mumbai,” said Amit Goyal, Managing Director, India Sotheby’s International Realty.

Also Read: MakeMyTrip founder Deep Kalra sells apartment in Gurgaon to group CEO for 33 crore

Demand for ultra-luxury homes continues to rise with most high net worth individuals purchasing these properties for investment, personal use, or both. A recent report by Anarock shows 58 ultra-luxury homes priced above 40 crore were sold across seven major cities till November 2023, accumulating a total sales value of 4,063 crore. Mumbai led the way with 53 of these opulent properties.

Also Read: Real Estate trends: Five clinchers for a 100 crore property deal

Delhi-NCR recorded four deals for two ultra-luxury homes in Gurugram and two bungalows in Delhi. At least 12 deals in 2023 were worth over 100 crore each with 10 such deals in Mumbai and two in Delhi-NCR, the report said.

Also Read: Gurugram Metro: Here are the sectors which may see the maximum price impact

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it’s all here, just a click away! –Login Now!

Share this article
  • ABOUT THE AUTHOR

    Vandana Ramnani is editor, real estate, HT Digital. She has reported extensively on residential and commercial real estate. She can be reached at vandana.ramnani@htdigital.in

  • <a href="https://www.hindustantimes.com/topic/real-estate-news" onclick="dataLayer.push('event':'topic_click','page_type': pageTYPE,'article_title':'Delhi-NCR real estate deal: DLF flat in Gurgaon sold for 95 crore’,’cta_text’:’Real Estate News’,’article_id’:’101708513971601′,’article_category’:’real estate’,’publish-date’:’Feb 21, 2024 05:16 PM IST’,’logged_in_status’:(getCookie(‘ht_token’) ? ‘logged_in’:’non_logged_in’),’user_ID’:(getCookie(‘ht_token’) ? getCookie(‘_ht_clientid’):’NA’));”> Real Estate News

Adblock test (Why?)



Source link

Continue Reading

Real eState

Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

Published

 on

 

TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Homelessness: Tiny home village to open next week in Halifax suburb

Published

 on

 

HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Here are some facts about British Columbia’s housing market

Published

 on

 

Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version