January 10, 2024 | Indextapadmin
During its pre-launch phase, DLF's DLF Privana South sold out in less than 72 hours.
Real estate giant DLF reported that, in the midst of a robust demand for residential properties, it had sold 1,113 luxury apartments in Gurugram for ₹7,200 crore in just three days after the pre-launch.
DLF declared in a regulatory filing that it has made "pre-formal launch sales of approximately Rs 7,200 crore for its latest luxury residential development, DLF Privana South in Gurugram." In March of last year, DLF sold 1,137 opulent apartments in its Gurugram housing project for more than ₹8,000 crore in just three days, at a price of ₹7 crore and above.
DLF Privana South, a new project that spans 25 acres in Gurugram's Sector 76 and 77, has just been introduced. "This luxury residential offering by DLF was sold out within 72 hours, in its pre-launch phase," according to the business. The project will include 1,113 opulent homes spread over 7 towers, including penthouses and 4 BHK apartments. DLF Privana South is slated to be a component of the 116-acre "DLF Privana'' development.
Recently, a new project called DLF Privana South was unveiled. It covers 25 acres in Sectors 76 and 77 of Gurugram. "During its pre-launch phase, DLF's luxury residential offering was sold out in less than 72 hours," the company stated. Across 7 towers, the project will comprise 1,113 luxurious residences, including 4 BHK apartments and penthouses. The 116-acre "DLF Privana" development is expected to include DLF Privana South.
Each buyer was only given one unit, with a booking amount of ₹50 lakh and approximately 25% of sales coming from Non-Resident Indians (NRIs), in an effort to deter bulk bookings.
DLF has created more than 158 real estate projects and more than 340 million square feet of development space. The DLF Group has 215 million square feet of potential for development in the commercial and residential sectors. The group has more than 42 million square feet in its annuity portfolio.
DLF has developed over 340 million square feet of development space and more than 158 real estate projects. The DLF Group offers 215 million square feet of potential space for residential and commercial development. The group's annuity portfolio spans more than 42 million square feet.
Despite taking steps to deter bulk bookings, such as limiting allotments to one unit per buyer and increasing the booking amount to five times the industry standard, DLF was still able to sell the apartments quickly.
Similar to this year, DLF sold over 1,100 apartments for roughly $1 billion in just three days. Another renowned developer, Godrej Properties Ltd. Sold out luxurious residences in projects close to the capital valued at over $500 million and revealed intentions to build more.
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