DLF sells ₹ 120 crore Madhusudan Kela flat in 'The Dahlias' project, Gurugram

BENGALURU: Seasoned investor Madhusudan Kela has bought a 6,233 sq ft apartment in DLF Ltd’s super luxury project The Dahlias in Gurugram. ₹120 million crowns.

The apartment is on the 20th floor of Tower 1 of the under-construction project and has five parking spaces, according to registration documents accessed by CRE Matrix, a real estate data analytics firm.

Dahlias, located in DLF City Phase 5, was launched in late 2024 and has 420 residences worth ₹43,350 million crowns. The developer has sold nearly 60% of its inventory and prices for the project have risen sharply since launch.

He is expected to create this project himself ₹5000 to 6000 million DLF ₹20,000 crore sales target for FY27 In FY26, DLF sold 56 residential units at Dahlias for ₹4,824 million.

Mumbai-based Kela did not respond Mintuser questions. A DLF spokesperson declined to comment.

According to Abhishek Kiran Gupta, CEO of CRE Matrix, ₹120 crore transaction at The Dahlias is another strong signal that India’s ultra-luxury residential market has evolved beyond the fringes and is increasingly becoming the preferred asset class for wealth preservation among HNI (High Net Worth Individuals) and UHNI (Ultra High Net Worth Individuals).

“What is particularly remarkable is that buyers are willing to commit ₹100 crore on under-construction inventory, reflecting deep confidence in branded luxury projects, execution credibility and long-term appreciation potential of marquee addresses,” Gupta said.

He said as wealth creation accelerates in India, trophy residences are emerging as an investment category in their own right, similar to prime assets in London, New York and Dubai. Gurugram has emerged as the fastest growing luxury residential market in the country ₹24,120 crore in house price transactions ₹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 management highlighted growing momentum in Gurugram’s ultra-luxury housing market, which is increasingly being compared to Mumbai’s premium residential segment. Dahlias, one of the most sought-after projects in Gurugram today, has seen good demand and price growth.

“When we started, what was it about ₹Now it is 60 million ₹90 million and so on ₹Now it is about 75 million ₹110 crore,” Aakash Ohri, Managing Director and Chief Commercial Officer, DLF Home Developers’ Ltd, he told Mint in May, adding that new inventory at The Dahlias project is now touching ₹135 million for housing.

Sales target of DLF ₹20,000 crore for FY27 is unchanged from last year as it prioritizes margins and cash flow over aggressive pre-sales growth. The developer has lined up the launches that are worth it ₹20,000 crore this year in Gurugram, Mumbai and Goa. DLF reported a net profit of Rs ₹4,408.34 crore in FY26, up roughly 1%, while operating revenue grew 2.5% YoY to ₹8,194.02 million crowns.