Inventory of ₹1400 Crore Sold in Haryana by DLF

December 21, 2023
By: Editorial Team
NEWS

REAL ESTATE

Biggest real estate company DLF announced on December 20 that, as a result of rising investor demand, it had sold commercial units for more than ₹1400 crore in its recently launched shops-cum-offices (SCO) project in Gurgaon and independent floors project in Panchkula.

“We have launched and completely sold out 75 shop-cum-office (SCO) plots in our new project 'Central 67' Gurugram for more than ₹700 crore," DLF Home Developers Joint Managing Director and Chief Business Officer Aakash Ohri told reporters here.

He stated that the entire land area of this project construction is 9 acres, and that these 75 units were sold for Rs 700 crore. The prices fell within the range of Rs 7 crore to Rs 25 crore. According to Ohri, the business has started work on a new project called "Valley Orchard" in Panchkula, where it plans to build 470 separate stories. "We have launched 400 units out of 470. "They were all sold for a total of Rs 700 crore," he stated. Floors have been sold by the company for Rs 9,000 per square foot.

DLF

Ohri stated that end users, investors, and NRIs continue to have a high demand for real estate in major cities. In response to a question regarding the DLF's total sales bookings for this fiscal year, he said that the company has set a goal of Rs 13,000 crore and expressed confidence in reaching it.

DLF recorded sales bookings of Rs 4,268 crore in the first half of this fiscal year. DLF sold properties for Rs 15,000 crore in the previous fiscal year, primarily from sales of Rs 8,000 crore from the Gurugram project "DLF Arbour."

Over 158 real estate projects totaling more than 340 million square feet have been developed by DLF. The potential area for development, both for residential and commercial uses, is roughly 215 million square feet. The group has more than 42 million square feet in its annuity portfolio. Its rental assets are parked in a joint venture with Singapore's sovereign wealth fund, GIC, known as DLF Cyber City Developers Ltd. (DCCDL).