DLF to Develop Luxury Independent Floors in Gurgaon, Targets Rs 1700 Crore Sale

DLF to Develop Luxury Independent Floors in Gurgaon, Targets Rs 1700 Crore Sale

Realty developer DLF will develop 850,000 sq ft of low rise independent floors at DLF5, Gurugram, with the total revenue potential of Rs 1700 crore, Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd told ET.

The company has focused a lot on low rise developments and have sold floors worth Rs 3,000 crore in 20 months.

The Grove is a low-rise luxury development , offering 292 residences, with 4 BHK, 4 BHK + entertainment lounge along with a staff room and store in the basement, on plot sizes ranging from 225 – 539 square meters (269 to 650 square yards).

“There is a demand for good builder with good products. This will be a luxury development,” Ohri said.

Situated on Raghavendra Marg, DLF5 has easy connectivity to the Dwarka Expressway and NH-48. With over 50,000 residents already living here, DLF5 has 16 premium, luxury and super-luxury residential communities.

“The Grove will introduce residents to the pleasures and privacy of living in expansive homes in low-rise buildings where the interior designs blend creative artistry with the latest technological advances. The privileges of living in DLF5 are obvious,” Ohri said.

“DLF’s vision of establishing a world-class city on par with the best in the world has come to fruition with DLF5. In the process, we have created immense, lasting value for all stakeholders,” Ohri said.

The Grove has been designed by the leading architectural firm, ARCOP. The landscaping and refreshing terrace garden have been designed by landscape architecture and urban design firm MPFP of New York. 5-tier security protocols with provisions of fire and gas leakage safety beyond the statutory requirements, will keep the residents safe and protected at all times.

“Properties in DLF5 have shown excellent appreciation in value as well as rentals. This neighbourhood has beaten all others when it comes to value creation, making it a highly attractive investment option. The Grove will undoubtedly enjoy this immense advantage,” Ohri said.

DLF Ltd is targeting a Rs 2000–2500 crore sale every quarter of this financial year with launches scheduled in Panchkula, Gurgaon and Goa markets.

The company, which has already completed sales of Rs 3,000 crore from low-rise independent floors, is betting big on luxury sales and is targeting another Rs 2,500 crore from low-rise developments in the Panchkula and Gurgaon markets.

DLF has planned 35 million sq. ft. of new products in the medium term, with a revenue potential of Rs. 47,000 crores, of which 7.6 million sq. ft. will be launched in 2022–23.

Almost 50% of it will be in the premium luxury segment.

DLF will develop 424 luxury independent floors at a 175-acre site, The Valley Gardens, in Panchkula, Haryana.

Source : ET

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