Rs 271 crore, and what the number does not say
A single Dahlias penthouse at Rs 271 crore. It is the largest apartment deal Delhi NCR has seen, and it is not the largest in India.
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The Obsidian Review
Registered transactions, policy changes and corridor notes. Written for people making decisions, not for search engines.
The Green Development Area did not survive
Delhi has a new master plan, notified on 20 August 2026. The Green Development Area that everyone in the farmhouse belt was waiting for is not in it.
Jewar is open. Now read the traffic.
Commercial flights began on 15 June 2026. The operator has since warned of a slower ramp up than planned, and there is still no rail link.
Prestige lands in Gurugram, twice in five months
Two land parcels in five months, both around 17 acres, with Rs 9,800 crore of combined development value. The Bengaluru developer is now a Gurugram developer.
What Max Estates is actually building in Gurugram
A low density launch has been widely trailed. What is documented is a sold out phase at Estate 361 and a Sector 59 project due this quarter.
84.71 acres in Najafgarh, bought without cash
Max Estates entered Delhi on 29 August 2026 with 84.71 acres at Najafgarh, paid for entirely in its own shares, nine days after the new master plan was notified.
The roads that move money, and the ones that do not yet
Dwarka Expressway is tolled and the price series is documented. UER-II is open and has no price series at all. The difference matters.
Open, building, or still on paper
A sales pitch will name six corridors. Two are open, two are being built and two have not been sanctioned. Here is which is which.
When agricultural land stops being agricultural
Rural agricultural land is not a capital asset, so selling it produces no capital gain. The test that decides which side of the line you are on is arithmetic, not opinion.
How property actually compounds
NCR property beat Indian equities over the last seven years. That is a specific market, specific window result, and the fees and taxes are where returns are actually decided.
A brand on the door, and a licence with an end date
Ownership is perpetual. The branding agreement is not. That mismatch is the whole subject, and it is rarely on the marketing material.
Selling quietly, and why it produces a better number
A home on eleven portals for nine months negotiates from weakness. A home shown to eight qualified buyers does not.
The Obsidian List
Registered transaction data, collector rate changes, and the two or three things worth knowing in Delhi NCR that month. Roughly once a month. No listings.
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