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DLF recently announced the successful sellout of its luxury residential project DLF Privana West in Gurugram valued at INR 5590 crores within just 3 days. Located in Sectors 76 and 77, the 12.572-acre project is part of the larger 116.296-acre DLF Privana community. It offers amenities like multiple car parks per unit against the backdrop of the Aravali Range and an upcoming safari park. Spread across 5 towers, it has 795 residences including 4 BHK apartments and penthouses designed for privacy with no overlapping views. Aakash Ohri, the joint managing director and chief business officer of DLF Home Developers, highlighted substantial interest from NRIs and reiterated DLF's commitment to building an integrated luxury living ecosystem.
DLF, a leading real estate developer, recently announced the successful sellout of its luxury residential project 'DLF Privana West' valued at INR 5590 crores within just 3 days. Located in Sectors 76 and 77 of Gurugram, the project spans 12.572 acres and is part of the larger 116.296 acre 'DLF Privana' community. Advertisement
This achievement follows the sellout of DLF Privana South in January 2024. DLF Privana West offers amenities like 3 car parks per 4BHK unit and 4 cars parks for penthouses, set against the backdrop of the Aravali Range and an upcoming safari park. Spread across 5 towers, it has 795 residences including 4BHK apartments and penthouses designed for privacy with no overlapping views.
Aakash Ohri, the joint managing director and chief business officer of DLF Home Developers, underscored the widespread anticipation for the project, noting a substantial interest from NRIs among the buyer demographic. He reiterated DLF's commitment to replicating the success of DLF 5 by building an integrated luxury living ecosystem with greenery.
DLF's expansion into Sectors 76 and 77 earlier this year strengthened its position in the luxury residential segment. With around 80% open space and an average 63 residences per acre, the project offers a luxurious living experience.
DLF shares started trading at INR 862 on May 9, up from the previous close of INR 852.50, reflecting investors' confidence. The stock has surged 97% in the last 12 months, underscoring luxury real estate's appeal as an investment asset class.
Once solely desirable for opulent living spaces, luxury real estate today has become a big investment avenue for affluent Indians to make huge capital gains. Rising demand for luxury living in the National Capital Region, especially Gurugram, has led to significant capital appreciation. Luxury projects like DLF Golf Links' The Camellias, The Magnolia and The Aralias have witnessed 125% price growth from 2021-2024.
Real estate brokers said that super luxury residences located at DLF Golf Links such as DLF The Aralias have surged from INR 12.5 crore in 2021 to INR 27 crore onwards as of January 2024. Prices in DLF The Magnolias have surged from INR 16 crore in 2021 to INR 35.5 crore onwards in 2024. Similarly, prices of apartments in DLF The Camellias skyrocketed from INR 33-35 crore in 2021 to INR 75 crore onwards in 2024.
In January 2024 a 10,813 square feet unit was bought by Smiti Agarwal, wife of Hemant Agarwal, CMD of retail giant V-Bazaar, for INR 95 crore at DLF The Camellias in Gurugram. Similarly, in October 2023 a 11,000 sq ft apartment was sold for INR 114 crore at The Camellias. Situated at the upscale Golf Course Road, The Camellias has become a sought-after residential project for business tycoons and start-up entrepreneurs. As per sources, founders of at least a dozen start-ups have invested in luxury residences at The Camellias.
MakeMyTrip founder Deep Kalra, Den Networks Sameer Manchanda, Boat's Aman Gupta and entrepreneur Ashish Gurnani bought super-luxury flats in DLF The Camellias.
Earlier in March 2023, DLF's luxury housing project 'The Arbour' had witnessed record breaking pre-formal launch sales of more than INR 8,000 crore. It was sold out completely before the official launch. This shows the demand for luxury housing in the NCR.
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 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 (Development Business) and the development and leasing of commercial and retail properties (Annuity Business).
The sellout of DLF Privana West underscores the rising demand for luxury living spaces in Gurugram and investors' confidence in luxury real estate as a lucrative investment asset class. There has been a significant rise in demand for high-end luxury properties because of the shift in homebuyers' growing desire to invest in a place not only to live but also as a high-quality asset with good returns on investment. This explains record breaking sales and steep rise in property values. DLF's continued success in the luxury residential segment cements its leadership position as India's premier real estate developer.
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