Real estate giant DLF has reported the successful sale of 1,113 luxury apartments in Gurugram, generating Rs 72 billion within a mere three days of the pre-launch phase, driven by robust demand for residential properties. The company disclosed this accomplishment in a regulatory filing, highlighting the noteworthy pre-formal launch sales for its latest upscale residential project, DLF Privana South in Gurugram.
Last March, DLF achieved a similar feat by selling 1,137 luxury apartments, each priced at Rs 70 million and above, in its Gurugram housing project, amassing over Rs 80 billion within a 72-hour period. The newly launched project, DLF Privana South, sprawls across 25 acres in Sectors 76 and 77 in Gurugram. The luxury residential offering, consisting of 1,113 residences distributed across 7 towers, featuring 4 BHK apartments and penthouses, was completely sold out during its pre-launch phase. DLF Privana South is part of the larger development, "DLF Privana," spanning 116 acres.
Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers, emphasised that the rapid sellout underscores the growing demand for high-rise luxury developments by DLF, reflecting the coveted DLF lifestyle.
To discourage bulk bookings and ensure fair distribution, each buyer was restricted to acquiring only one unit. Approximately 25% of the sales originated from Non-Resident Indians (NRIs). The booking amount for each unit stood at Rs 50 lakh.
DLF boasts a robust portfolio, having developed over 158 real estate projects, with a total development area exceeding 340 million square feet. The group's potential for further development encompasses 215 million square feet across residential and commercial segments, complemented by an annuity portfolio exceeding 42 million square feet.
Primarily engaged in the development and sale of residential properties (Development Business) and the development and leasing of commercial and retail properties (Annuity Business), DLF continues to be a key player in the real estate sector.
