Sold Out! DLF Sells All 795 Luxury Flats Worth Rs 5,590 Crore In Gurugram With 72 Hours Of launch

The project, spanning over 12.57 acres, boasts an average selling price of around Rs 7 crore per apartment, as disclosed in a regulatory filing on Thursday

Real Estate In India

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Real estate developer DLF has accomplished a significant milestone by selling out all 795 apartments in its latest luxury housing project, 'DLF Privana West', located in Gurugram. Within just three days of its launch, the project garnered immense consumer interest, including from NRIs, resulting in a total sales value of approximately Rs 5,590 crores. 

The project, spanning over 12.57 acres, boasts an average selling price of around Rs 7 crore per apartment, as disclosed in a regulatory filing on Thursday.

In January of this year, the company sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of launching its project 'DLF Privana South'. This project, spanning 25 acres, is part of the larger 116-acre township 'DLF Privana' in Sector 76 and 77 of Gurugram, Haryana.

According to a PTI report, DLF received significant interest from approximately 1,550 to 1,600 potential buyers, nearly double the number of units available in the new project. This surge in demand underscores the strong interest in ultra-luxury residences. Notably, non-resident Indians (NRIs) accounted for approximately 27 per cent of the total 795 units sold. NRIs have increasingly been investing in premium housing projects in Gurugram, seeking both attractive rental yields and potential appreciation in property value.

Speaking on the development, Aakash Ohri, Joint Managing Director and Chief Business Officer at DLF Home Developers Ltd, said, "After the overwhelming success of DLF Privana's inaugural project DLF Privana South, 'DLF Privana West' emerges as the next chapter in this story, meticulously designed to cater to discerning homebuyers' aspirations for spacious, luxurious abodes within a vibrant, well-connected community." 

He noted that a significant portion of the apartments in this new project has been purchased by NRIs.

"Our aspiration with DLF Privana and its associated projects is to emulate the success of DLF Phase 5 by curating an integrated ecosystem of luxury residences amidst abundant greenery, fulfilling the most coveted lifestyle requisites,” he added.

In March of the previous year, DLF successfully sold 1,137 luxury apartments, valued at Rs 7 crore and higher, within three days, generating over Rs 8,000 crore in revenue.

The residential property market in Gurugram has experienced notable growth in demand, resulting in a considerable price increase. Despite substantial price appreciation, the demand has remained strong. Moreover, India's housing market in the top seven major cities has shown robust performance post-COVID-19, driven by a jump in demand and growing aspirations for homeownership.