DLF has sold all their 292 luxury homes in Gurugram for more than Rs 1,800 crore within a few days of the project’s launch, signaling strong demand despite the interest rate on home loans.
Realty major DLF has sold all 292 luxury homes in Gurugram for over Rs 1,800 crore within a few days of the project’s launch, signaling strong demand despite the interest rate on home loans and property prices.
On September 26, DLF launched its project ‘The Grove’ located at DLF phase-5 in Gurugram, Haryana.
The company has advertised in leading newspapers that” ‘The Grove’ is now sold out.”
According to reports, the project has been completely sold out in just eight days of its launch. The total sales revenue from this project is more than Rs 1,800 crore.
Housing sales across all segments, mid-income, affordable, luxury, and super luxury, have revived significantly after the second wave of the COVID-19 pandemic, which hit India in April-July 2021.
Luxury Homes in Gurugram
This Group Executive Director and Chief Business Officer said on September 26, we launched a new project, a luxury low-rise development comprising 292 residences. The total developable area of this project is 8.5 lakh square feet.
We were expecting a sales revenue of Rs 1,700-1,800 crore from this project, Aakash Ohri said.
Aakash Ohri noted that properties in DLF phase-5 have shown excellent appreciation in value and rentals. More than 50,000 residents live in DLF phase-5, which features 16 acclaimed luxury, premium, and super-luxury residential groups.
After the overall sales bookings of DLF Ltd for the 2022-23 fiscal year, he said that the company has already given guidance of Rs 8,000 crore, and “we will stick to that.”
DLF’s sales bookings rose to Rs 7,273 crore in FY2021-22 from Rs 3,084 crore last year.
DLF is one of India’s largest real estate companies in market
In the first quarter of this financial, DLF’s sales bookings doubled to Rs 2,040 crore from Rs 1,014 crore in the year-ago period.
In August, DLF Ltd launched its new luxury housing project at Panchkula in Haryana, targeting about Rs 1,300 crore in sales revenue from this project. The company will develop more than 420 independent floors in this project.
DLF is one of India’s largest real estate companies in market capitalization. It has developed more than 152 real estate projects covering more than 320 million square feet.
This company has 215 million square feet of development potential across the residential and commercial segments.
The DLF company has an allotment portfolio of more than 40 million square feet.
DLF is generally involved in the development and sale of residential properties (development business) and the product and rents out of commercial and retail properties (allotment business).
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