DLF Limited, India’s largest real estate developer, announced the sellout of its latest luxury project, DLF Privana West, located in Gurugram. The project with 795 apartments valued at approximately Rs 5590 crore, sold out entirely within just three days.
In January this year, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project ‘DLF Privana South’, which is spread over 25-acre.
Brokers Business Standard spoke to quoted a price range of Rs 6.43 to Rs 7.15 crore for a 4bhk measuring 3577 sq. ft and penthouse and measuring 5472 sq ft, respectively.
Key Points:
Location: Sector 76 and 77, Gurugram
Size: 12.572 acres (approximately 5 hectares)
Part of: A larger integrated development called “DLF Privana” which spans 116.296 acres (approximately 47 hectares)
Number of Units: 795 residences across 5 towers
Apartment Types: Spacious 4 BHK apartments and penthouses
Unique Selling Points:
Three car parks for each 4 BHK unit
Four car parks for penthouses
Picturesque views of the Aravali Range
Close proximity to a future Safari Park
Earlier this year, marking its foray into Sector 76 and 77 of Gurugram, DLF unveiled “DLF Privana South” which forms a part of the sprawling ecosystem ‘DLF Privana’, spread across 116.296 acres. Overlooking the Aravallis and abutting a cluster of corporate parks, this burgeoning neighbourhood is poised to emerge as the epicenter of Gurugram. Enhanced connectivity, coupled with ongoing and forthcoming infrastructure developments, renders the locale both accessible and aspirational, seamlessly blending urban conveniences with natural splendour.
Industry experts noted that for the fiscal year 2023-2024, DLF’s sales from Non-Resident Indian (NRI) investors have surpassed the Rs 3400 crores mark, underscoring the strategic importance of NRI markets in DLF’s overarching growth agenda.
In the last venture DLF Privana South, the company announced that it had achieved NRI sales as significant as 25% share (approximately Rs 1800 crore) of the total sales volume. The project attracted keen interest from diverse NRI segments, including those from the US-Canada, Southeast Asia, and the GCC, with notable inquiries also emanating from regions as far-reaching as Africa, particularly Tanzania and Kenya.
In the previous fiscal (2022-2023), DLF made significant strides in NRI sales, surging past the Rs 2000 crore milestone, accounting for approximately 14% of the overall sales figure that year. The buoyant response hailed predominantly from NRI strongholds in the GCC, USA, UK, and Singapore.
DLF has intensified its engagement efforts with its NRI clientele, offering tailored services and round-the-clock support to accommodate varying time zones. Proactive measures such as dedicated inventory allocation for NRI buyers and synchronized project launches across domestic and international markets have been pivotal in growing the NRI sales, escalating from approximately 5% to nearly 20% within a span of two years.
Another project in Gurgaon, DLF Arbour achieved record-breaking pre-launch sales of over Rs 8,000 crore in March 2023 and sold out before the official launch.
DLF has a vast portfolio with over 158 completed projects and experience developing over 340 million square feet of space.
They have a strong development pipeline with 215 million square feet of potential across residential and commercial segments.
The company also has a significant annuity portfolio exceeding 42 million square feet.
First Published: May 09 2024 | 10:43 AM IST