Entrepreneur Manav Sardana has bought a penthouse at DLF’s The Dahlias in Gurugram for ₹271 crore, making it one of the most expensive residential property deals reported in India and setting a new benchmark for the luxury project.
The transaction involves a penthouse spread across about 17,200 square feet of super area, with a carpet area of nearly 10,500 square feet. The deal translates to roughly ₹1.58 lakh per square foot on a super-area basis and about ₹2.6 lakh per square foot based on carpet area.
The purchase was registered in Gurugram and has brought fresh attention to the rapid growth of the city’s ultra-luxury housing market.
Sardana is associated with the automotive components industry and comes from a business family with a long history in manufacturing. His father, SB Sardana, co-founded Imperial Auto Industries with Jagjit Singh in 1969.
Imperial Auto developed into a major manufacturer of automotive components, supplying products to vehicle manufacturers and other customers. The company later attracted investment from global private equity firm Warburg Pincus.
Sardana’s business background is significant because his wealth comes from an established manufacturing enterprise rather than the technology or consumer sectors that have produced many of India’s newer wealthy entrepreneurs.
His latest purchase puts him among the growing number of high-net-worth individuals investing heavily in premium residential real estate.
The property is part of The Dahlias, DLF’s super-luxury residential development in DLF Phase 5, one of Gurugram’s most sought-after neighbourhoods. The project was launched in 2024 and is spread across about 17 acres.
The development comprises around 420 apartments and penthouses across multiple towers. It was planned as a more exclusive offering than DLF’s earlier luxury project, The Camellias, which is located nearby.
The Dahlias has attracted several prominent buyers since its launch, with individual apartments commanding prices running into tens of crores. Sardana’s ₹271-crore transaction, however, stands out because of both the size of the residence and the value of the purchase.
The property is significantly larger than a conventional luxury apartment. Its carpet area of around 10,500 square feet provides extensive internal living space, while the larger super-area figure includes additional areas considered under the project’s property calculation.
The transaction comes at a time when Gurugram’s luxury real estate market is experiencing strong demand. The city has developed into a major corporate and commercial centre, with multinational companies, financial firms and technology businesses maintaining large operations across its business districts.
DLF’s premium developments have played a major role in this transformation. The Camellias established a high-end residential market in the area, with several properties changing hands for exceptionally high values.
The Dahlias has taken that positioning further by offering large-format residences with high-end facilities and limited inventory.
Sardana’s purchase illustrates how the top end of India’s housing market is operating differently from the broader residential sector. While most homebuyers remain sensitive to mortgage rates, affordability and property prices, ultra-luxury buyers are often more focused on location, privacy, space, amenities and exclusivity.
Transactions of this scale provide an important indicator of demand among India’s wealthiest households for real estae developers. A single sale worth hundreds of crores can also significantly influence perceptions of a project and its surrounding market.
The deal highlights the widening gap between mainstream housing and the ultra-luxury segment. Properties in this category are increasingly being treated not only as homes but also as long-term assets and symbols of wealth.
Gurugram is also emerging as a stronger competitor to Mumbai in the luxury housing market. Mumbai remains the country’s dominant market for high-value residential transactions, particularly in areas such as South Mumbai and central luxury neighbourhoods.
However, the availability of larger plots and newer developments has allowed Gurugram to offer expansive homes that can be difficult to find in Mumbai.
The transaction could further strengthen the project’s profile among India’s high-net-worth buyers. Luxury developers increasingly rely on a limited pool of affluent customers, making visibility and exclusivity important parts of the sales strategy.
The ₹271-crore penthouse at The Dahlias therefore represents more than an unusually expensive home purchase. It is another sign that Gurugram is becoming an important destination for India’s ultra-wealthy and that the country’s luxury housing market continues to set new price benchmarks at its highest end.
