India’s ultra luxury housing market and its evolution ₹DLF Home Developers managing director (MD) Akash Ohri on Saturday said the Rs 100 crore apartments in Gurugram are not only expensive in themselves, but are the product of an ecosystem that has taken years to build. He was speaking during a panel discussion at Hindustan Times’ India Next Real Estate Expo 2026.
“DLF has worked very hard to create what can be called the Beverly Hills of India. It is completely made in India, and the Camellias in particular define it,” Ohri said, referring to Project DLF Camellias, one of India’s most exclusive, ultra-luxury residential complexes located in Sector 42, Gurugram, Haryana, a prime part of the Delhi-National Capital Region (NCR). The project is famous for housing top business leaders and ultra high net worth families.
“You talk about Dubai, London – every country has one or two real estate projects that they are proud to talk about,” Ohri said. He said that camellias have become the same for India.
‘Every detail matters’
He stressed that no developer can simply decide to build and sell ₹A house worth Rs 100 crore overnight. He underlined that buyers at this stage are discerning and demand an experience that matches global standards.
Ohri explained, “From concierge services and clubhouse amenities to environmental sustainability and seamless maintenance, every detail must come together to justify such an assessment. Luxury today is defined by convenience, privacy, wellness and community rather than just location or size.”
Delhi-NCR vs Singapore, Dubai, London and others
Answering the question whether Delhi-NCR’s luxury pricing is at par with Dubai or London, Ohri said India, at the moment, has reached the benchmark level with few projects.
“It is a huge statement on pricing commanding like international cities. Look at the infrastructure supporting Singapore, Dubai and other such cities. This question (of comparing Delhi-NCR with them), we should ponder over for some more time,” he said.
He then added, “But yes, we have reached some benchmarks to compare ourselves among the most expensive projects in the world. I would like to leave it there.”
How is ‘ultra luxury’ defined?
Panelists also discussed what the term ultra-luxury means for builders and buyers.
“Ultra luxury is defined by what buyers are getting. Standalone, a project may have everything, but it won’t have the ecosystem that defines luxury,” said Chetan Chichra, partner, Grant Thornton India, citing sustainable, well-maintained amenities and networking opportunities as key factors.
Speaking about Mumbai real estate compared to Delhi-Noida-Gurugram and the wider NCR, Chichra said, “When we compare both the regions, the value of skyscrapers in Mumbai may still be higher, but the aspirational value in NCR is very different.”
Ohri also explained how, in a DLF ultra-luxury project, “you could be on the treadmill in the gym inside the campus, and the person next to you could be a startup founder with a valuation in the millions.”
Speaking during the panel discussion, Ankur Jalan, CEO of Golden Growth Fund, said, “There are price differences in every market, and prices have gone up in all markets – but the gap (between different levels of luxury and affordability) remains, and it will continue to exist. “The pre-existing price gap still persists,” Jalan said.
The panel discussion was moderated by Vandana Ramnani, Real Estate Editor, HT Digital.
