DLF Ltd, India’s biggest real estate company, has rolled out a plotted development project Parc Estate off the Old Mahabalipuram Road, in Chennai.
The 85-acre project will include 1,500 plots for sale, with plot sizes varying from 600 sq ft to 4000 sq ft, at a cost range of Rs 20 lakh to Rs 1.25 crore. The first of the project's three phases has approximately 750 plots up for sale. The firm has additionally rolled out plotted projects in Chandigarh and Gurugram. Chennai has maintained steady development in terms of infrastructure, connectivity and urban facilities and emerged as a significant residential market where buyers can infuse with confidence. For them, Chennai has come up as a strategic market in the south of India, and it will be the first of many residential launches coming up in the future. Apart from being an auto manufacturing centre, rising penetration of the IT or ITES industry has led to an influx of a younger population looking to infuse in real estate, as per Aakash Ohri, group executive director and chief business officer, DLF. Over the past two years or so, DLF has rolled out projects in different product formats including second homes, independent floors, apartments and plots given the demand for larger homes in the course of the covid-19 pandemic. The developer has a significant launch pipeline shortly, that includes projects not only in its core market Delhi-National Capital Region but also in Goa, Kerala and Tamil Nadu. DLF is at the planning stage for a 230-acre, mixed-use project in Sriperumbudur, that will contain low rise houses, plots and is also exploring logistics space and a data centre at the site. It is additionally rolling out a million sq ft of high-end residences in Chennai. Image Source
