DLF Sells 795 Luxury Flats in Gurugram for Rs 5,590 Cr

New Delhi, May 9 (PTI) Realty major DLF on Thursday said it has sold all 795 apartments for Rs 5,590 crore within three days of the launch of its new luxury housing project in Gurugram amid strong consumer demand.

In a regulatory filing, the company informed the success of its latest luxury residential project 'DLF Privana West' "achieving a remarkable sellout valued at approximately Rs 5,590 crore, within 3 days." The new project is spread over 12.57-acre comprising 795 apartments.

In January this year, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre.

Both 'DLF Privana West' and 'DLF Privana South' are part of 116-acre 'DLF Privana' township located in Sector 76 and 77.

Aakash Ohri, Joint Managing Director and Chief Business Officer, 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 said NRIs have bought a substantial portion of apartments in this new project.

"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."

In March last year, DLF sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.

Gurugram housing market has witnessed a significant growth in demand for residential properties, leading to a sharp rise in prices. The demand has sustained so far despite the hefty price appreciation.

Overall also, India's housing market across the top seven major cities has been performing very well post-COVID pandemic on pent-up demand and rising aspirations for homeownership.

DLF is India's leading real estate developer in market capitalisation.

DLF has developed more than 158 real estate projects and developed an area in excess of 340 million square feet.

DLF Group has 215 million square feet of future development potential across residential and commercial segments.

The group has an annuity portfolio of over 42 million square feet.

DLF is primarily engaged in the business of development and sale of residential properties (the "Development Business") and the development and leasing of commercial and retail properties (the "Annuity Business").