DLF Ltd, a leading real estate company, announced on Thursday that it has successfully sold all 1,137 luxury apartments priced at Rs 7 crore and above, within three days, in its upcoming housing project, The Arbour, located in Gurugram.
The sales generated from this pre-launch event amounted to more than Rs 8,000 crore, a clear indication of the strong demand for premium flats in major cities across India. The Arbour, situated in Sector-63 Gurugram, is a 25-acre project consisting of five towers (38-39 storeys) and will feature 4 BHK apartments.
Aakash Ohri, Group Executive Director and Chief Business Officer of DLF Ltd, expressed his pleasure at the phenomenal response received by their latest luxury offering, The Arbour, even before its launch. According to him, the interest shown by discerning homebuyers in India and abroad is a testament to the highly aspirational DLF lifestyle. Over 95% of the buyers are end-users, indicating the strong demand for premium residences.
DLF had estimated sales revenue of around Rs 7,500 crore when it announced the launch of this project in January. The current sales figures exceed that estimate, indicating strong demand across various price points, especially for products offered by trusted developers.
DLF is the largest real estate firm in India in terms of market capitalisation and has achieved a 45% growth in sales bookings to Rs 6,599 crore in the April-December period of this fiscal year, compared to Rs 4,544 crore in the year-ago period. The company has launched several residential projects in Delhi, Gurugram, Panchkula and Chennai this fiscal year.
DLF has two verticals, development business and rental business, and has developed more than 153 real estate projects covering an area of over 330 million square feet. The DLF Group has a development potential of 215 million square feet across the residential and commercial segments. Its rent-yielding commercial assets are mainly held by DLF Cyber City Developers Ltd (DCCDL), a joint venture firm between DLF and Singapore sovereign wealth fund GIC, in which DLF holds a nearly 67% stake.
