DLF Properties Worth Rs 5,590 Cr Sell Out in Three Days

Spread across 12.57 acres, 'DLF Privana West' forms part of the larger 116-acre 'DLF Privana' township in Gurugram, India

The Indian real estate giant DLF has announced the complete sale of its 795 apartments within just three days of launching its latest luxury housing project in Gurugram. The project, named 'DLF Privana West,' has achieved a staggering sellout valued at approximately Rs 5,590 crore, as per a regulatory filing by the company.

Shares of DLF were trading in the green with modest gains, in contrast to a steep fall in BSE Sensex that fell over 500 points intraday. DLF shares opened at Rs 864.30 apiece on BSE and hit day's high of Rs 871.15 till 11:10 am.

Staggering Sellout

• The success follows the company's earlier triumph of selling out 1,113 luxury apartments in three days for Rs 7,200 crore
• The group has completed over 158 real estate projects and has 215 million square feet across residential and commercial segments in development 

Spread across 12.57 acres, 'DLF Privana West' is part of the larger 116-acre 'DLF Privana' township situated in Sector 76 and 77. The success comes on the heels of the company's earlier triumph with its project 'DLF Privana South,' wherein 1,113 luxury apartments were sold for Rs 7,200 crore within the same three-day timeframe in January this year.

Aakash Ohri, the Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd, expressed his satisfaction with the overwhelming response to the project. He highlighted the significant involvement of non-resident Indians (NRIs) in purchasing a substantial portion of the apartments.

Reflecting on the company's vision, Ohri emphasized DLF's commitment to creating integrated luxury living spaces amidst lush green surroundings, catering to the evolving lifestyle preferences of homebuyers.

Gurugram's real estate market has been witnessing robust demand for residential properties, leading to a notable surge in prices. Despite this, the demand has remained resilient, reflecting the sustained interest of buyers in the region's real estate offerings.

India's housing market, particularly in the top seven major cities, has shown remarkable resilience post-COVID-19, fueled by pent-up demand and growing aspirations for homeownership. DLF, with its extensive portfolio and market dominance, stands as India's leading real estate developer in terms of market capitalization. With over 158 real estate projects completed and more than 340 million square feet developed, DLF Group holds a significant position in the industry. Additionally, the group possesses a future development potential of 215 million square feet across residential and commercial segments, along with an annuity portfolio exceeding 42 million square feet.