Confirming a recent trend, DLF Ltd. has reported selling 1,113 luxury apartments worth over ₹7,200 crore within 72 hours of the pre-launch phase of its latest luxury residential development, DLF Privana South in Gurugram.
While the developer has collected ₹50 lakh per booking as against the normal practice of ₹10 lakh in the region, the full amount of ₹7,200 crore will be realised at the end of the project which is scheduled to be completed in 5 years.
Each 4-room apartment is priced at ₹6.7 crore and 25% of the bookings have been received from NRIs.
‘DLF Privana South’ will be part of a larger development, “DLF Privana” spread over approximately 116 acres in Sectors 76 and 77 of Gurugram closer to the Aravalli Range, the company said in a filing with stock exchanges.
Aakash Ohri, Jt. Managing Director and Chief Business Officer, DLF Home Developers Ltd., said, “The swift pre-launch sellout serves as a testament to the increasing demand for high-rise luxury developments by DLF, delivering the highly aspirational DLF lifestyle.”
“To discourage bulk bookings, each buyer was allotted only one unit. Those who have booked include doctors, lawyers, businessmen and from the start-up community,” he said.
Mr. Ohri said another of the company’s project named The Arbour was also sold out within 72 hours in the pre-launch stage.
DLF shares on Monday gained 0.78% to close at ₹758.80 on the BSE.
Published - January 08, 2024 07:39 pm IST
