Madhusudan Kela buys ultra luxury apartment in DLF Dahlias for ₹121 crore

Veteran investor Madhusudan Murlidhar Kela has purchased an apartment in DLF Ltd’s super-luxury residential project, The Dahlias, for ₹120.70 crore, according to documents accessed by CREMatrix.

Located in DLF City Phase 5, Sector 56, Gurugram, the ultra-luxury apartment has a total area of 6,233 square feet. The registration of the property happened on April 15, 2026. The Dahlias project comprises 420 ultra-luxury residences.

The Dahlias project has attracted several high-profile buyers. In October 2025, a Delhi-based industrialist acquired four apartments for approximately ₹380 crore. Around the same time, cricketer Shikhar Dhawan purchased a residence at DLF The Dahlias for an estimated ₹69 crore. Earlier this year, Ajit Jain of Berkshire Hathaway bought a luxury apartment in the neighbouring The Camellias development for close to ₹85 crore.

DLF has sold 60% of inventory at its super-luxury residential project, Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers, said during the real estate developer’s earnings call in May. In the quarter ended March 31, 2026, DLF sold 32 ultra-luxury apartments in The Dahlia’s for Rs 80-90 crore.

“As far as when we started off, what was about ₹60 crore is now ₹90 crore, and what was about ₹75 crore is now about ₹110 crore. New inventory at the project is now touching ₹135 crore per apartment,” Ohri said. “The good thing is that The Dahlias has caught up much faster than we expected it to. We thought we would achieve this target in about four years, but we’ve done it in about a year and a half in terms of per square foot realization,” Ohri added.

The orientation of residences has emerged as a key pricing differentiator within the project. Apartments facing north offer views of the lake and landscaped green spaces, while south-facing units overlook the Aravalli hills. Depending on the size and location of the residence, this difference in outlook can translate into a price gap of ₹20 crore to ₹30 crore, according to Ohri.