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Other Developments
A curated list of other prominent stories from this day.
11:43 PMEconomic Times Realty
Entrepreneur Manav Sardana buys DLF The Dahlias penthouse in Gurugram for record ₹271 crore
Summary
Entrepreneur Manav Sardana has bought a 17,200-square-foot penthouse at DLF's The Dahlias in Gurugram for ₹271 crore, making it a record transaction for the project. The development has recorded prices above ₹1 lakh per square foot and attracted buyers from tier-two cities and overseas.
The ₹271 crore sale confirms that demand at the top end of India's residential market
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Why it matters
The deal shows how India's luxury housing market is setting new price benchmarks well above the wider residential market.
Birla Estates' subsidiary buys FSI from Parinee entities for ₹159 crore
Summary
A Birla Estates subsidiary has acquired nearly 90,000 sq ft of FSI from Parinee entities for more than ₹159 crore. The development rights, generated through a Slum Rehabilitation Authority scheme in Kandivali, will be transferred to a society redevelopment project in Khar, Mumbai.
The transaction gives Birla Estates additional development capacity in a premium Khar project without relying
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Why it matters
Developers are using transferable development rights to expand redevelopment potential in Mumbai's land-constrained premium markets.