Mumbai, Aug. 13 -- Entrepreneur Manav Sardana has bought the penthouse at The Dahlias in Gurugram for Rs2.71 billion (bn), marking one of the costliest single?unit residential transactions in India. The super area of the penthouse is about 17,200 sq ft while the carpet area is approximately 10,500 sq ft. The purchase price works out to roughly Rs0.158 million (mn) per sq ft on a super?area basis and about Rs0.26 mn per sq ft on a carpet?area basis, underlining strong demand for premium residences.
The Dahlias occupies around 17 acres and will comprise 420 residences across eight towers, each rising 29 levels, with 15 exclusive duplex penthouses. The scheme spans about 7.5 mn sq ft and is located in DLF City Phase 5. It has emerged as a significant contributor to developer DLF's sales. During the March quarter DLF sold 32 apartments at the project as buyers continued to favour large?format homes.
DLF recorded total sales bookings of Rs201.43 bn in FY26, slightly down from Rs212.23 bn in the prior year, while bookings attributed to The Dahlias amounted to Rs48.28 bn during the financial year. The penthouse purchase follows several other high?value transactions at the project, including an earlier apartment transacted for more than Rs1.21 bn and a four?apartment deal of around Rs3.8 bn which buyers planned to combine into a single residence. Former India opener Shikhar Dhawan and multiple investors have acquired homes at the project, underscoring the asset class appeal.
Manav Sardana is an entrepreneur associated with Imperial Auto Industries and remained involved with the family business after its acquisition by global private equity firm Warburg Pincus. He is the son of SB Sardana, a co?founder of the company established in 1969, and serves as a director in more than a dozen companies linked to the Imperial Auto group, including Imperial Silicon Private Limited and Kreuz Hydraulics Private Limited. The transaction highlights the concentration of wealth in premium Gurugram housing and continued appetite for trophy residences.
Published by HT Digital Content Services with permission from Construction World.