₹100-cr apartments in Gurugram are the product of an ecosystem, years in the making: DLF MD Aakash Ohri

India's ultra luxury housing market and the emergence of ₹100-crore apartments in Gurugram are not simply expensive on their own, but are products of an ecosystem that has been years in the making, said Aakash Ohri, Managing Director (MD) of DLF Home Developers on Saturday. He was speaking during a panel discussion at the Hindustan Times' India Next Real Estate Summit 2026.

“DLF has worked very hard to create what can be called the Beverley Hills of India. It's a fully made in India, and especially Camellias defines that,” Ohri said, referring to the project DLF Camellias, which is 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're proud to talk about," Ohri said. He said Camellias has become that for India.

He stressed that no developer can simply decide to build and sell a ₹100-crore home overnight. Buyers at this level are discerning and demand an experience that matches global standards, he underlined.

“Every detail, from concierge services and clubhouse amenities to environmental sustainability and seamless maintenance, must come together to justify such valuations. Luxury today is defined by convenience, privacy, wellness, and community, rather than just location or size,” Ohri explained.

Responding to a question on whether Delhi-NCR's luxury pricing is comparable to that in Dubai or London, Ohri said India, for now, has reached a benchmark level with some projects.

“It is a very tall statement to make on commanding pricing like international cities. Look at the kind of infrastructure that supports Singapore, Dubai, and other such cities. That question (of comparing Delhi-NCR with them), we should park for some other time,” he said.

He then added, “But yes, we have reached certain benchmark to compare ourselves among the most expensive projects in the world. I would like to leave it there."

The panellists also dwelt on what the term ultra -luxury means for the builders and the buyers.

“Ultra luxury is defined by what buyers are getting. Standalone, a project may have everything, but it will not have the ecosystem that defines luxury," said Chetan Chichra, Partner, Grant Thornton Bharat, citing sustainable, well-maintained facilities, plus networking opportunities, among key factors.

Speaking about Mumbai real estate as compared to Delhi-Noida-Gurugram and the wider NCR, Chichra said, “When we compare the two regions, value of skyscrapers may still be higher in Mumbai, but aspirational value in the NCR is very different.”

Ohri also spoke of how, at a DLF ultra-luxury project, “You could be on the treadmill in the gym inside the complex, and the guy next to you could be a startup founder with millions in valuation.”

Also speaking during the panel discussion, Ankur Jalan, CEO, Golden Growth Fund, said, “Every market has a price difference, and prices have gone up in all the markets — but the difference (between different levels of luxury and affordability) stays, and this will continue further. The price gap that has existed from earlier times stays still late," Jalan said.

The panel discussion was moderated by Vandana Ramnani, Editor, Real Estate, HT Digital.

Mehul R Thakkar is a Mumbai-based journalist who closely tracks the city’s ever-evolving real estate landscape. He believes that Mumbai presents a unique reality that, while Mumbaikars deeply aspire to own a home in the city of dreams, many spend little actual time living in it due to long commutes and demanding work lives. With over 11 years of experience in journalism, I have reported across a wide spectrum of beats, including real estate, housing, infrastructure, aviation, and education. I have also extensively covered the workings of India’s wealthiest civic body, the Brihanmumbai Municipal Corporation (BMC), providing insight into the policy, governance, and urban planning decisions that directly influence Mumbai’s growth. Before joining Hindustan Times, I worked in fast-paced digital and print newsrooms, including Moneycontrol.com and Deccan Chronicle, as well as national dailies such as The Asian Age and DNA. Outside the newsroom, I am an avid weather tracker, a fan of spy thrillers in both books and films, and a keen follower of international affairs.Read More