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DLF sells nearly 800 luxury flats worth Rs 5,590 crore in Gurugram within 3 days of launch

The 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.

Spread across 12.57 acres, ‘DLF Privana West’ forms part of the larger 116-acre ‘DLF Privana’ township situated in Sector 76 and 77. This 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.

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Real Estate in Delhi-NCR: Haryana’s Bahadurgarh emerges as new HOTSPOT for investors

Real Estate in Haryana: Delhi-NCR is witnessing a remarkable investment in the real estate sector. With the development and upgradation of infrastructure in the national capital and its adjoining areas, the Tier 2 and Tier 3 cities including Bahadurgarh, Sonipat, Alwar, Meerut, and Manesar are emerging as a new real estate hotspot. According to the CBRE Report, the tier 2 and tier 3 cities have witnessed an increase in investment, with capital flows more than double in 2023.
 

Delhi Metro New Corridor

With the completion of the new Delhi Metro corridor from Inderlok to Indraprastha, the connectivity to tier 2 and tier 3 cities will improve. According to several experts, the enhanced connectivity will not only boost investment in the commercial sector but also in the residential sector. The property values along the metro routes will rise accordingly. The corridor will pass through several important areas such as Daya Basti, Sarai Rohilla, Ajmal Khan Park, Nabi Karim, New Delhi, LNJP Hospital, Delhi Gate, and Delhi Sachivalaya.
 

Bahadurgarh: Emergence as a New Hotspot for Real Estate

In this context, Haryana’s Bahadurgarh deserves special mention. The city is located near Delhi and is well-connected with the Delhi-Bahadurgarh- Rohtak highway, KMP expressway, and rail routes. The region hosts Asia’s biggest footwear park and is home to some renowned companies such as Relaxo, BNG Fashion, Yokohama, and Aqualite.
 
Apart from this, medical facilities like Balaji Action Cancer Hospital, the upcoming Minerva Mall, Maharaja Agarsen Medical University, etc situated close to the city. The airport is just 30-40 minutes away from the location.
 
Some renowned developers such as Royal Green Realty, TATA, Omaxe, Essel Realty, and HL City, among others are offering various options like ready-to-move, etc. Additionally, several projects are in the construction stage.
 
Talking about the real estate growth in Bahadurgarh City, Yashank Wason, Managing Director, Royal Green Realty, said, The region is close to Delhi, as it takes around 1 hour or so to reach, and is well-connected with roads, railway corridors, and the Delhi Metro. At our township, we offer villas, floors, plots, and our first-time SCO spaces equipped with top-notch amenities such as smart security & monitoring, a smart outdoor landscape, a swimming pool, a kid’s play area, and more that will enhance the standard of living of our residents.”
 
Wason further added that their first-time Shop-Cum-Office (SCO) spaces in Bahadurgarh will offer cost-effective solutions and increased convenience for businesses. “The companies can benefit from shared infrastructure and facilities, such as common areas, and parking spaces, among others. These spaces are poised to make a positive impact on the local economy, generating numerous job opportunities. Most important of all it is an enticing option for startups and entrepreneurs who are aiming to establish their brand in tier-2 cities, especially Bahadurgarh,” he said.
 
Sharing his view, Mohit Mittal, CEO of Mores Techno Pvt. Ltd., a tech-based real estate investment advisory firm said that Bahadurgarh’s strategic location on the outskirts of Delhi-NCR has significantly boosted its connectivity. He added that government initiatives such as the Pradhan Mantri Awas Yojana (PMAY) and various affordable housing schemes have spurred development in the city.
 
“The Bahadurgarh real estate market holds promising future prospects. Its proximity to Delhi, coupled with relatively affordable property prices compared to the inner parts of the NCR, makes it an attractive destination for both end-users and investors. As infrastructure continues to improve and the area evolves into a self-sustained township, property values are expected to appreciate further,” Mittal added.
 

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How Dwarka Expressway will benefit Gurgaon real estate market

Dwarka Expressway: The inauguration of the Dwarka Expressway by Prime Minister Narendra Modi is expected to significantly boost Gurgaon’s real estate market, according to experts, who predict a rise in property prices in the area.
As per an ET report, key developers such as Sobha, Raheja, Signature Global, M3M, Godrej, and Hero Realty have existing projects along the corridor, and some are considering launching additional projects due to the expected increase in demand from infrastructure development.

Anshuman Magazine, chairman, India, South-East Asia, Middle East & Africa, CBRE was quoted as saying, “With the expressway now complete, we are witnessing a promising downturn in unsold inventory levels in these sectors, from a significant 25-30% eight to 10 years ago to a mere 7-8% now.”

CBRE expects a rise in property and land prices in the area in the coming years, providing attractive returns on investment for early investors. The real estate sector around the expressway primarily consists of residential properties, along with some retail projects.
Pradeep Aggarwal, chairman of Signature Global (India) Ltd., said that the ongoing development of the expressway is greatly improving city areas, attracting interest from homebuyers and investors. This new expressway will enhance connectivity for nearby locations like SPR (Southern Peripheral Road), New Gurugram, and sector 37D at Dwarka Expressway, leading to increased property values and a promising future for the real estate market in the region.

The 29-km Dwarka Expressway was designed to create an alternate route between Delhi and Gurgaon, aiming to alleviate traffic congestion. Since its inception, developers have eagerly acquired large land parcels and launched numerous housing projects along the expressway. Santhosh Kumar, vice chairman of Anarock group, remarked that investors view it as one of the most promising and rewarding investments.
According to Anarock, approximately 53,030 housing units were launched in the region between 2013 and 2023, covering various budget segments. Additionally, more than 10,515 housing units are anticipated to be completed and available for possession within the next two years.
Aman Sarin, CEO of Anant Raj Limited, views the Dwarka Expressway as a transformative event, particularly for the National Capital Region, with Gurgaon poised to reap significant benefits from its development.

 

SOURCE: https://timesofindia.indiatimes.com/business/india-business/how-dwarka-expressway-will-benefit-gurgaon-real-estate-market/articleshow/108491645.cms

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