DLF Limited, the foremost real estate developer in India, has made headlines yet again with the rapid sellout of its latest luxury endeavor, DLF Privana West, nestled in Gurugram. Boasting 795 opulent apartments valued at approximately Rs 5590 crore, the project witnessed an astounding sellout within a mere three days of its launch.
This achievement follows closely on the heels of the company’s earlier triumph in January, when it sold 1,113 luxury apartments in Gurugram for a staggering Rs 7,200 crore within the same three-day timeframe with its project ‘DLF Privana South’, sprawling over 25 acres.
Brokers interviewed by Business Standard disclosed a price range of Rs 6.43 to Rs 7.15 crore for a 4BHK apartment measuring 3577 sq. ft and a penthouse spanning 5472 sq ft, respectively.
Aakash Ohri, the Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd, remarked, “‘Privana West’ marks the next chapter in our saga, meticulously crafted to meet the discerning aspirations of homebuyers seeking spacious, luxurious dwellings within a vibrant, well-connected community.”
The anticipation surrounding this project transcended geographical boundaries, with a significant portion of buyers comprising esteemed NRIs. Leveraging its wealth of experience and expertise, DLF Privana West promises an unparalleled blend of location, amenities, luxurious facilities, contemporary infrastructure, and connectivity, further enhanced by the conveniences and comforts offered by the DLF ecosystem.
Earlier this year, DLF expanded its footprint in Gurugram with “DLF Privana South,” nestled in Sectors 76 and 77. Overlooking the Aravallis and adjoining a cluster of corporate parks, this burgeoning neighborhood is poised to become the epicenter of Gurugram, seamlessly blending urban conveniences with natural splendor.
Industry experts noted DLF’s robust performance in NRI sales for the fiscal year 2023-2024, exceeding the Rs 3400 crore mark, underscoring the strategic significance of NRI markets in DLF’s growth trajectory.
In the previous fiscal year (2022-2023), DLF achieved significant milestones in NRI sales, surging past the Rs 2000 crore mark, accounting for approximately 14% of the overall sales figure. Proactive measures, including dedicated inventory allocation and synchronized project launches, have been instrumental in fueling this growth.
To deter bulk bookings, each buyer was allotted only one unit with a booking amount of Rs 50 lakh, setting a new standard in the industry. Around 25% of sales in Privana South were attributed to Non-Resident Indians, with an average ticket price of approximately Rs 7 crore.
DLF’s prowess extends beyond Privana projects, with its Gurgaon-based project, DLF Arbour, achieving record-breaking pre-launch sales of over Rs 8,000 crore in March 2023, selling out before its official launch.
With a portfolio boasting over 158 completed projects and experience developing over 340 million square feet of space, DLF continues to maintain a strong development pipeline, encompassing 215 million square feet across residential and commercial segments. Additionally, the company boasts a substantial annuity portfolio exceeding 42 million square feet.