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Business News/ Companies / News/  DLF’s Gurugram luxury housing project sold out within 72 hours of pre-launch for 7,200 crore
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DLF’s Gurugram luxury housing project sold out within 72 hours of pre-launch for ₹7,200 crore

DLF Ltd, India’s largest listed real estate company, said it has sold the entire 1,113 high-end luxury residential units of its latest project DLF Privana South in Gurugram ahead of its official launch.

DLF Privana South will comprise 1,113 luxury residences across seven towers. (Photo: Mint)Premium
DLF Privana South will comprise 1,113 luxury residences across seven towers. (Photo: Mint)

DLF Ltd, India’s largest listed real estate company, on Monday said it has sold the entire 1,113 high-end luxury residential units of its latest project DLF Privana South in Gurugram for 7,200 crore. 

The residential units were sold out completely within 72 hours ahead of its official launch, DLF said in a regulatory filing. 

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In 2023, the company had launched a high-rise luxury housing project The Arbour after almost a decade that had witnessed pre-formal launch sales of more than 8,000 crore. It was sold out completely before the official launch.

DLF Privana South will comprise 1,113 luxury residences across seven towers. There are 14 penthouses and the rest are 4 BHK apartments. ‘DLF Privana South’ will be part of a larger development. The project spread over approximately 116 acres in Sectors 76 and 77, the company said. 

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The size of each apartment would be some 3,500 square feet.

The project offers views of the verdant Aravalli Range and in the vicinity of the upcoming Safari Park spread over 10,000 acres.

“DLF Privana South is the latest addition to our esteemed portfolio of luxury residences. The swift pre-launch sellout serves as a testament to the increasing demand for high-rise luxury developments by DLF, delivering the highly aspirational DLF lifestyle. To discourage bulk bookings, each buyer was allotted only one unit, with about 25% of the sales coming from Non-Resident Indians (NRIs), and a booking amount of 50 lakh, as opposed to the industry standard of 10 lakh," said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd.

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The company said DLF Privana South is “positioned strategically near the confluence of Southern Peripheral Road, NH-48, NPR (Dwarka Expressway) and CPR". The project offers swift accessibility to key city hubs and beyond, surrounded by well-developed infrastructure, including offices, schools, 5-star hotels, and golf courses," the company said. 

In an interview with PTI, Ohri said “The company received expressions of interest (EOIs) from around 4,600 customers. The selling price was 18,000 per square foot."

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"We have received very good demand from across India and NRIs. Indian diaspora has booked 25 per cent of the units offered," he added.

He said the company would start construction of this project, comprising 4 million square feet area, in the next 4-5 months.

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Published: 08 Jan 2024, 06:24 PM IST
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