DLF, the real estate behemoth, has achieved a remarkable feat by selling all 795 apartments of its latest luxury housing project, ‘DLF Privana West,’ in Gurugram within just three days of its launch. The sellout, valued at approximately Rs 5,590 crore, underscores the project’s immense popularity, as per the company’s regulatory filing.
Amidst a steep fall in BSE Sensex, DLF shares traded positively, reflecting investor confidence. The project spans 12.57 acres within the larger ‘DLF Privana’ township in Sector 76 and 77. This success follows the rapid sellout of 1,113 luxury apartments in ‘DLF Privana South’ earlier this year, reinforcing DLF’s prowess in the luxury real estate market.
Aakash Ohri, DLF Home Developers Ltd’s Joint Managing Director and Chief Business Officer, expressed delight at the overwhelming response, noting significant interest from non-resident Indians (NRIs) in purchasing these apartments. He emphasized DLF’s commitment to crafting integrated luxury living spaces amidst verdant surroundings, aligning with evolving homebuyer preferences.
Gurugram’s real estate market continues to witness robust demand, driving prices upwards. Despite this, buyer interest remains strong, reflecting the enduring appeal of the region’s real estate offerings. India’s housing market, particularly in major cities, has displayed resilience post-COVID-19, buoyed by pent-up demand and rising homeownership aspirations.
DLF, with its extensive portfolio and market dominance, holds a prominent position in India’s real estate landscape. With over 158 completed projects and more than 340 million square feet developed, DLF Group commands significant industry influence. Additionally, the group boasts a future development potential of 215 million square feet across residential and commercial segments, coupled with an annuity portfolio exceeding 42 million square feet.