DLF sells 1,137 flats for over Rs 8,000 crore within three days in Gurugram

Realty major DLF Ltd on Thursday announced that it has sold 1,137 luxury apartments, priced Rs 7 crore and above, for over Rs 8,000 crore within 3 days, in its housing project in Gurugram.

This can be attributed to a strong demand for premium flats across major cities. In a regulatory filing, DLF informed that it has "witnessed record breaking pre-formal launch sales of Rs 8,000-plus crores for its luxury high-rise residences, The Arbour".

DLF will build 1,137 4BHK apartments across five towers (38-39 storeys) in this 25-acre project.

The DLF stock on Thursday was trading at Rs 360.55 at NSE, up by Rs 15.10.

The project is located at Golf Course Extension Road, Sector-63 Gurugram.

The project has been fully sold out within three days even before its launch, DLF said.

Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd, said, "Our latest luxury offering, 'The Arbour' has received a phenomenal response even before it was launched."

The interest shown by discerning homebuyers in the country and overseas is clearly an endorsement of the highly aspirational DLF lifestyle, reported PTI citing Ohri.

"It is perhaps a new touchstone in the luxury real estate segment. Significantly, over 95 per cent of the buyers are individuals who have bought into The Arbour for their end usage," DLF said.

In January, DLF had said it will launch this project with an estimated sales revenue of around Rs 7,500 crore.

"Demand of real estate across various price points is very strong, especially for products offered by trusted developers," Ohri had said.

DLF -- the country's largest real estate firm in terms of market capitalisation -- achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal.

DLF's sales bookings stood at Rs 4,544 crore in the year-ago period.

DLF has launched residential projects in Delhi, Gurugram, Panchkula and Chennai this fiscal.

DLF has two verticals -- development business and rental business.

DLF has developed more than 153 real estate projects and developed an area in excess of 330 million square feet.

DLF Group has 215 million square feet of development potential across the residential and commercial segments.

Rent-yielding commercial assets are largely held by DLF Cyber City Developers Ltd (DCCDL), which is a joint venture firm between DLF and Singapore sovereign wealth fund GIC. DLF hold nearly 67 per cent stake in the joint venture.

(With inputs from PTI)