Manav Sardana, a member of the Sardana promoter family of auto-components maker Imperial Auto, has reportedly bought a penthouse at DLF’s The Dahlias in Gurugram for Rs. 271 crore.
The purchase was reported by The Economic Times, which cited two people aware of the transaction. They described it as the costliest single-unit residential transaction in India.
But who is Manav Sardana?
From Imperial Auto To A Rs. 271 Crore Home
Sardana was associated with Imperial Auto Industries, an Indian manufacturer of fluid and gas transmission products for the automotive and off-highway sectors.
Corporate records show that Sardana served as a whole-time director of Imperial Auto from October 2020 until March 2022.
Imperial Auto was founded in 1969 by Jagjit Singh and S.B. Sardana. In March 2022, Stone Plant Investments B.V., an affiliate of US-based private equity firm Warburg Pincus, acquired a majority stake in the company.
CRISIL said the transaction resulted in the Sardana promoter family exiting Imperial Auto, while the Jagjit Singh family retained a minority stake.
At the time of the transaction, Imperial Auto had revenue of around Rs. 2,172 crore for FY2022, according to CRISIL.
Corporate records also show Sardana's association with companies including Chattels Estate, Superwell Comtrade and Imperial Silicon. Some of these entities have since changed status, so these records do not necessarily indicate that Sardana currently runs these businesses.
The Rs. 271 Crore Penthouse
Sardana's reported purchase is at DLF's The Dahlias, a super-luxury residential project in Gurugram.
According to The Economic Times, two people aware of the transaction said Sardana paid Rs. 271 crore for the penthouse.
The residence has a 17,200 sq ft super area and a 10,500 sq ft carpet area.
At Rs. 271 crore, that works out to approximately Rs. 2.6 lakh per sq ft on a carpet-area basis.
The reported transaction is also notable for its value on a super-area basis, at approximately Rs. 1.6 lakh per sq ft.
Why The Dahlias?
DLF's The Dahlias is positioned at the top end of the company's residential portfolio.
Aakash Ohri, Managing Director and Chief Business Officer at DLF, said the project was around 65% sold, with about 34 units sold in the previous quarter.
Ohri said price realisation had crossed Rs. 1 lakh per sq ft, while prices on higher floors were approaching Rs. 1.2 lakh per sq ft, based on super area.
He also said the project's entry-level price was above Rs. 100 crore.
According to Ohri, around 25-30% of the business was coming from the rest of India and overseas, including NRIs.
Another Rs. 100 Crore-Plus Deal
Sardana's reported purchase follows another major transaction at The Dahlias.
Investor Madhusudan Murlidhar Kela bought an apartment in the project for Rs. 120.71 crore, according to property registration data reviewed by CRE Matrix.
The agreement was registered on April 15, 2026. The apartment has a carpet area of 6,233.39 sq ft.
Sardana's reported Rs. 271 crore purchase is therefore more than twice the value of Kela's transaction.
The reported deal adds to a series of large-ticket transactions at the ultra-luxury end of India's residential market.
