New Delhi, Jun 11 (IANS): DLF Camellias, a realty project in Gurugram, ranked first among super luxury projects in the country in terms of price appreciation and absorption of inventory, a recent report has said.

"The project appreciated annually by 15 per cent since its launch in 2014 and has appreciated by 88 per cent on an absolute basis," the report said, adding that over 65 per cent of the DLF project has been sold.

The report, however, noted that the overall real estate market depreciated by 10-40 per cent during the same period.

The report showed that Kingfisher Towers in Bengaluru, developed by the Prestige Group held the second position in terms of appreciation with an annual appreciation rate of 8 per cent and overall appreciation of 66 per cent since its launch in 2011.

The third in the list was Signature Island of Sunteck Developers, appreciating by five per cent per annum and 50 per cent overall since its launch in 2009.

In the super luxury realty market of Mumbai, the report said that the segment in Mumbai starts at Rs 35 crore. The city has witnessed a heavy supply in the price category of Rs 35 crore and over with a total of 11 projects offering 1,049 units and having an availability of approximately 376 units.

"None of these projects have seen any significant price appreciation in the last five years as there has been a persistent demand-supply mismatch in favour of supply," it said.