V-Bazaar Retail Chief's Wife Purchases Rs 95 Crore Luxury Apartment In Gurugram - Details

Smiti Agarwal, wife of Hemant Agarwal, the Chairman and Managing Director of V-Bazaar Retail, has purchased a lavish 10,800 square feet apartment at The Camellias by DLF on Golf Course Road in Gurgaon. The opulent residence, purchased for a staggering Rs 95 crore, is accompanied by an additional Rs 4.75 crore paid as stamp duty.
Representative image

Representative image (Source: iStockphoto)

Smiti Agarwal, wife of Hemant Agarwal, the Chairman and Managing Director of V-Bazaar Retail, has purchased a lavish 10,800 square feet apartment at The Camellias by DLF on Golf Course Road in Gurgaon. The opulent residence, purchased for a staggering Rs 95 crore, is accompanied by an additional Rs 4.75 crore paid as stamp duty. According to a report from CRE Matrix quoted by The Economic Times, the property's sale was formalised through registry proceedings in January.
The Agarwal family, already residents of The Camellias, underscores the allure of DLF Golf Links, Gurgaon, as a preferred destination for startup founders, senior executives of multinational corporations, and business magnates. Amit Goyal, Managing Director of India Sotheby’s International Realty, attributes the condominium's popularity to its world-class golf course and unmatched amenities, drawing affluent buyers and positioning per-square-foot prices on par with prime areas in Delhi and Mumbai.
In a remarkable surge over the past four months, The Camellias, along with other DLF projects like The Aralias, The Magnolias, and The Crest, has experienced substantial price escalations. The Camellias, introduced less than a decade ago at Rs 22,500 per square foot, currently commands a selling price exceeding Rs 85,000 per square foot. The property spanning 10,000 square feet, acquired in 2014 for Rs 23 crore, has witnessed an astronomical fourfold increase in value, now standing at Rs 85 crore.
The robust demand for these premium properties is evident, with approximately 15 per cent of The Camellias' property owners upgrading from The Magnolias and The Aralias. The report added that the majority of buyers are from the Delhi National Capital Region (NCR). The personalities such as Aman Gupta, founder of BoAt; JC Chaudhry, founder of Aakash Educational Services; and Elan Group, a prominent real estate firm, are among the discerning property owners at The Camellias.
During the pandemic, DLF experienced a surge in sales, surpassing the number of Camellias units sold in the previous two years. The overall valuation of The Camellias project now stands at an impressive Rs 12,000 crore, with only 429 units available for purchase.
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