Listed real estate giant DLF reported pre-formal launch sales of over Rs 7,200 crore for DLF Privana South, its most recent high-end, luxury residential complex in Gurugram. In its pre-launch phase, the project sold out entirely in less than 72 hours, the business reported in a regulatory filing.
The opulent residential development known as “DLF Privana South” occupies around 25 acres in Gurugram’s sectors 76 and 77, which are adjacent to Southern Peripheral Road (SPR).
“This unique community will feature 1,113 beautifully built luxury apartments spread across seven buildings, featuring penthouses and 4 BHK units. The project is located close to the soon-to-be 10,000-acre Safari Park and provides a stunning view of the Aravalli mountains. In its pre-launch phase, DLF’s luxury residential offering sold out in less than 72 hours, the business reported in its filing.
According to the statement, “DLF Privana South” will be a part of the broader “DLF Privana” development, which would occupy about 116 acres in Sectors 76 and 77.
The quick pre-launch sell-out, according to Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd., indicates the growing demand for DLF’s high-rise luxury properties.
“Instead of the industry standard of Rs 10 lakh, each buyer was given only one unit and a booking amount of Rs 50 lakh to discourage bulk bookings. This sales figure included Non-Resident Indians (NRIs) at about 25%. Ohri informed the sources that the typical ticket price for an apartment is approximately Rs 7 crore.
Pre-formal launch sales of DLF’s premium property project, “The Arbour,” broke records in March 2023, with sales exceeding Rs 8,000 crore. It sold out entirely ahead of its scheduled release.
DLF Privana South signifies the company’s entry into the SPR region, which is emerging as the new focal point of the city amid the convergence of flourishing businesses. The project is well located close to the intersection of Central Peripheral Road (CPR), Dwarka Expressway, NH-48, and SPR.
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 segment. The group has an annuity portfolio of over 42 million square feet, the company said.
