DLF completes sale of all 292 luxury homes in Gurugram worth Rs1,800 crore; stock spurts ~3.5%

6 Oct 2022 , 09:50 AM

DLF Limited has sold all 292 premium residences in Gurugram for more than Rs1,800 crore within a few days of the project’s opening, indicating robust demand despite rising interest rates on home loans and property costs.

DLF unveiled their project ‘The Grove’ on September 26 in Gurugram, Haryana, at DLF phase-5.

According to reports, the project was completely sold out within eight days of its debut. This project’s overall sales income exceeds Rs1,800 crore.

After the second wave of the COVID epidemic, which hit India in April-June 2021, housing sales in all sectors – inexpensive, mid-income, luxury, and super luxury – have rebounded dramatically.

“We have started a new project that will be a low-rise premium complex with 292 homes. This project has a total developable area of 8.5 lakh square feet,” Aakash Ohri, Executive Director and Chief Business Officer of DLF Group, stated on September 26.

Ohri stated that homes in DLF phase-5 had shown a remarkable increase in both value and rental income. DLF5, which includes 16 outstanding premium, luxury, and super-luxury residential complexes, already has over 50,000 people.

DLF unveiled its new luxury home project in Panchkula, Haryana, in August, with a sales revenue target of Rs1,300 crore. This project will see the development of 424 separate floors by the corporation.

At around 9.54 AM, DLF was trading at Rs370.50 up by 3.3% from its previous closing of Rs358.65 on the BSE. The scrip opened at Rs365.85 and touched intraday high and low of Rs372.25 and Rs363.60 respectively.

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