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DLF plans Rs 80k cr property launch in 4 years to capitalize on rising demand.

Photo: AFP

DLF, India's largest real estate firm, is set to invest approximately Rs 3,500 crore over the next four years in constructing 'The Arbour,' a luxury housing project in Gurugram. The expansive project, spanning 25 acres with 1,137 premium apartments across 5 towers, follows the remarkable success of selling all units priced above Rs 7 crore for over Rs 8,000 crore in just 3 days (February 15-17). DLF CEO Ashok Tyagi highlighted construction costs ranging from Rs 7,000-8,000 per square foot, attributing the increase to rising material prices. The overall project construction cost is estimated at Rs 3,500 crore over the next four years. With sales bookings exceeding Rs 6,500 crore during April-December 2022, DLF aims for total sales close to Rs 15,000 crore in the fiscal year 2022-23. Emphasizing profitability over sales rankings, DLF plans future launches in Delhi-NCR, Chennai, and Chandigarh, leveraging robust market sentiments. The company holds 215 million square feet of development potential spanning residential and commercial segments.

Feb. 25, 2024 4:06 p.m. 1784

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