Within three days of its launch, DLF sells all 795 luxury apartments in its new project in Gurugram for Rs 5,590 crore

Driven by tremendous demand from customers, especially NRIs, India’s leading real estate company, DLF, sold all 795 units for Rs 5,590 crore within three days of the debut of its new luxury housing complex in Gurugram. The business announced the successful opening of DLF Privana West, its newest luxury residential project, in a regulatory statement on Thursday. The property “achieved a remarkable sellout valued at approximately Rs 5,590 crores within 3 days.” The new complex has 795 flats distributed over 12.57 acres. Each condo sold for almost Rs 7 crore on average.

Within three days of the debut of its 25-acre property, “DLF Privana South,” the business sold 1,113 premium homes in Gurugram for Rs 7,200 crore in January of this year. DLF Privana West and DLF Privana South are both components of the 116-acre township DLF Privana, which is situated in Gurugram, Haryana’s Sectors 76 and 77.

There is a huge demand for ultra-luxury residences, as shown by the fact that DLF received Expressions of Interest (EOIs) from between 1,550 and 1,600 consumers, or almost twice as many as there are units available in this new project. Of the 795 units, non-resident Indians (NRIs) occupied around 27% of them. NRIs have been heavily investing in Gurugram’s upscale real estate developments in order to get respectable rental income in addition to capital growth.

“DLF Privana West” emerges as the next chapter in this story, meticulously designed to cater to discerning homebuyers’ aspirations for spacious, luxurious abodes within a vibrant, well-connected community, following the overwhelming success of DLF Privana’s inaugural project, DLF Privana South,” said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd., in response to the development.

In this new complex, he noted, a significant number of the flats had been purchased by NRIs. “We aim to replicate the achievements of DLF Phase 5 with DLF Privana and its related projects by creating a well-curated community of opulent homes surrounded by lush vegetation, satisfying the most sought-after lifestyle requirements.”

In only three days in March of last year, DLF sold 1,137 opulent homes in its Gurugram housing project for more than Rs 8,000 crore. The flats were priced at Rs 7 crore and beyond.

The demand for residential homes in the Gurugram property market has grown significantly, pushing up prices. Thus far, demand has persisted in spite of the significant price increase. Due to pent-up demand and growing expectations for homeownership, India’s housing market, which includes the country’s top seven largest cities, has been functioning quite well overall since the COVID epidemic.

The preference of consumers is changing in favor of developers that have a solid track record of completing real estate projects on schedule. Based on market capitalization, DLF is the top real estate developer in India.

DLF has created more than 158 real estate projects and more than 340 million square feet of development space. A future development potential of 215 million square feet is available to the DLF Group in both the residential and commercial divisions.