A Gurgaon-based tech entrepreneur has made headlines with a jaw-dropping real estate acquisition that has sent ripples through the luxury property market. Rishi Parti, the founder of Info-X Software Technology, has purchased a sprawling penthouse in DLF's prestigious "The Camellias" development for a record-breaking Rs 190 crore. This transaction, possibly the most expensive high-rise apartment deal in the National Capital Region (NCR), highlights the soaring demand for luxury properties and the growing wealth creation in India's tech sector.
Parti's acquisition involves a 16,290 square foot penthouse, purchased at a staggering rate of Rs 1.8 lakh per square foot. The deal involved a stamp duty payment of Rs 13 crore, further emphasizing its magnitude. Real estate experts suggest that this transaction could represent the highest per-square-foot price ever recorded for a high-rise apartment in India, surpassing even Mumbai's sky-high property values.
Rishi Parti, 47, is a seasoned entrepreneur who founded Info-X Software Technology in 2001 at the young age of 24. The company, which began with just three members, has grown into a team of 150 professionals, providing software solutions and back-office support to the transportation industry across 15 countries. Parti is also an angel investor and holds directorships in other companies, including Find My Stay Pvt Ltd and Integrator Ventures Pvt Ltd.
This Gurgaon deal has even eclipsed Mumbai's renowned luxury property market. Samir Jasuja, founder-CEO of real estate data analytics firm Propequity, noted that the per-square-foot price in this transaction surpasses the most expensive areas in Mumbai, where prices typically reach up to Rs 1.6 lakh per square foot.
Rishi Parti's record-breaking purchase signifies a new era in India's luxury real estate market. It reflects the growing wealth creation in the technology sector and the increasing demand for exclusive, high-end properties. This transaction not only sets a new benchmark for luxury apartment prices but also highlights Gurgaon's emergence as a prime destination for affluent individuals seeking luxurious living spaces. As India's economy continues to grow, we can expect to see more such high-value transactions, further shaping the landscape of the country's luxury real estate sector.
