Two projects in Gurgaon, a future super-luxury residential project in DLF 5, a high-rise luxury residential building in Chennai, and a residential low-rise in Chandigarh Tri-city are among the projects that have recently been launched.
According to Aakash Ohri, joint managing director and chief business officer of real estate giant DLF, the company has residential launches planned for Gurugram, Panchkula, Chennai, and Mumbai this fiscal year, totaling about Rs 20,000 crore.
A high-rise luxury residential building is being built in the center of Chennai, a mid/high-rise is being built in New Gurugram’s Sector 76/77, and a residential low-rise is being built in Chandigarh Tri-city. These are just a few of the launches.
“We’re planning a few high-rise launches in Gurugram. One is a mid-segment and one is a super-luxury sector that are anticipated to launch in Q3 and Q4, respectively. In the upcoming quarters, a mid-segment independent floors project is anticipated to be introduced in Panchkula. The Mumbai project is also anticipated to debut in the fourth quarter. The Chennai project is now in the design and approval stage and is anticipated to be deployed in Q4 or Q1. One tower from OneMidtown in Delhi is anticipated to open in the third or fourth quarter, he told Moneycontrol.
When it comes to anticipated sales bookings, “we are retaining the advice of Rs 12,000 crore that we have provided to the market. For the Gurugram launches in the ultra luxury and mid classes, we anticipate strong demand. From Gurugram’s sales bookings, we want to earn close to Rs 4,000 crore to 5000 crore, he said.
Work on the Mumbai project is going on, he said.
He added the anticipated Goa project in Panjim might start the next fiscal.
In its brand-new Gurugram development, “The Arbour,” the business sold three days’ worth of apartments in February of this year for Rs 8,000 crore.
The Arbour’s impact has spread throughout the NCR market. Projects are now commonly priced at Rs 10 crore per unit. This provides valuable insight on consumers in different cities. Latent demand exists, yet there are no alternatives. It demonstrates that we can be taking our clients for granted as well. We are making decisions for them. There is unquestionably a market in other cities for products like The Crest. All people have goals. They will eat it up if you give them the options, he told Moneycontrol.
He declared that it was past time for Delhi to become vertical. “Delhi requires skyscrapers. Due to the problems with the infrastructure, it is urgently needed.
In the second half, he announced, DLF will unveil two opulent Gurugram projects for Rs 15,000 crore.
Two projects in Gurgaon, a high-rise luxury residential building in Chennai, a residential low-rise in Chandigarh Tri-city, and an approaching super-luxury residential project in DLF 5 are among the launches, he said.
Indians who don’t live in homes are once again requesting residential constructions. Nearly 15 to 20 percent of the NRI market belongs to us. The NRI community shied away in the past due to project delays, but they now want to keep a foot in the door. According to him, they are investing all throughout India.
DLF and Gadar
Ohri claimed to Moneycontrol in February that The Arbour, its recently completed luxury property project in Gurugram, is a smash hit similar to Pathaan. Within only about three days of its debut, the project had sold out all 1,137 apartments, each priced at Rs 7 crore and above, for more than Rs 8,000 crore.
“Our stock recently touched Rs 500 coinciding with blockbuster Gadar entering the Rs 500 crore club at the domestic box office,” he continued.