DLF to Launch 1,100 Luxury Condos in Gurgaon

DLF to Launch 1,100 Luxury Condos in Gurgaon

The company will be launching a high-rise condominium project after almost a decade and is eyeing a revenue potential of Rs 8,000 crore.

It is expected that DLF will launch 25 percent of the inventory in the first phase and clock in sales close to Rs 2,000 crore

Real estate major DLF is expected to launch a new luxury project comprising 1,100 dwelling units in Gurgaon on Golf Course Extension Road and is eyeing a potential revenue of Rs 8,000 crore from the luxury housing project going forward, said industry sources.

The formal launch is expected next week, they added.

DLF will be launching a high-rise condominium after nearly 10 years. The last project which they completed was Crest and Camellias and the company has been focusing on generating cash by executing low-rise independent floors in DLF City, New Gurgaon and Panchkula.

It is expected that the company will launch 25 percent of the inventory in the first phase and clock in sales close to Rs 2,000 crore which is what the company had guided in the post-results call with investors and analysts. The remaining phases will be launched in a staggered manner with considerable price hikes.

The name of the project is Arbour and is located in Sector 63, Gurgaon, the sources said. The project is spread across an area of 25.8 acres and comprises only five towers. These are ground plus 39 floors.

The apartments are being offered at a base price of Rs 18,000 per sq ft and the size of each is 3,900 sq ft, they said.

Buyers have a choice of three parking bays per apartment with electric vehicle charging facility. The club house is spread across 1 lakh sq ft of space, the sources said.

The company will be launching a high-rise condominium after a long time, sources said, adding that it is expected that the pricing strategy for this project may have a positive rub off on existing and upcoming projects in the area and prices of completed inventory will go up in the near future.

When contacted, the company officials declined to comment stating that the project is yet to be announced.

The starting price of the 4BHK apartments is around Rs 7 crore. Possession is expected by 2027, sources said.

With the launch of this project, DLF is expected to cross the revenue mark of Rs 9,500 crore and be close to touching Rs 10,000 crore for FY23. The company has already posted revenue of Rs 6,599 crore for the nine months ending this fiscal.

Source : Money Control

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