One of the spearheads in the sky of Architecture and Real estate DLF Group is launching two super-luxury high rise residential projects one in Chennai and another one in Tri city Chandigarh after the tremendous success of two luxury projects of worth Rs.15000 crore in Gurugram, Haryana. DLF is one of the bright stars of real estate which constructed more than 153 projects and developed an area in excess of 330 million square feet. Owing to these series of luxury projects DLF group is all set to build up a residential pipeline of close to Rs.20,000 crore spread across Gurugram, Panchkula, Chennai and Mumbai this fiscal year.
The MD, Ashok Kumar Tyagi, aims to capitalize on strong demand for premium homes after the success of the 'The Arbour' project with Rs.8,000 crore sales within three days.
As per the media report, DLF’s sale bookings jumped more than two-fold to a record Rs.15,058 crore last fiscal from Rs.7,273 crore in the previous year. The company earned a hefty profit of Rs.8000 crore from a single project named ‘The Arbour’ which was launched in Gurugram during the March quarter.
The company has 215 million square feet of development potential across residential and commercial segment.The group has an annuity portfolio of over 40 million square feet.
Joint managing director of DLF Group Akash Ohri said in an interview, “We have a couple of high-rise launches planned for Gurugram. One is a mid-segment and one is a super luxury segment expected to be launched in Q3 and Q4. A mid-segment independent floors project is expected to be launched in Panchkula in the coming quarters. The Mumbai project is also expected to be launched in Q4. The project in Chennai is likely to be launched in Q4 or Q1; it is in the design and approval stage right now. A portion of OneMid-town in Delhi (one tower) is expected to be launched in Q3 or Q4”. He also added that they are expecting a healthy demand on launching of super luxury projects of Gurugram. He is quite sure that, they will achieve close to Rs.4,000 crore to 5000 crores from Gurugram’s sales bookings.
According to Ohri, ‘The Arbour’ has a spiraling effect on the real estate market of Delhi-NCR, he shared that, they should not take their customer for granted and should allow them to choose what they want instead of offering them very few options of high rises. The percentage of NRI investment in DLF residential projects have soared up. Now it is going to touch nearly 15-20 percent, previously which was not at all satisfying. It seems that NRIs are looking for good projects to invest in their own motherland.
DLF is going to launch their Mumbai project in couple of years and their Goa project is expected to launch in the next fiscal year. On the last fiscal year, the company launched 10 million square feet worth Rs.14,600 crore. Looking at the record sale booking on the last fiscal year, DLF has planned for an aggressive launch pipeline for 2023-24 at 11.2 million square feet area with an estimated sales revenue potential of Rs.19,710 crore.
They believe that they will come up with more lavish, super luxury residential projects across multiple markets and will meet up all the expectations of its valuable customers with on time delivery.
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