DLF Sells Properties Worth Rs 1,400 Crore In Gurugram, Panchkula

Realty firm DLF Ltd on Wednesday said it has sold independent floors and commercial plots for around Rs 1,400 crore in Gurugram and Panchkula, in Haryana, amid strong property demand.

DLF, the country's largest real estate developer in market cap, has launched two projects in Sector 67, Gurugram and Panchkula.

"We have launched and completely sold out 75 shop-cum-office (SCO) plots in our new project 'Central 67' Gurugram," DLF Home Developers Joint Managing Director and Chief Business Officer Aakash Ohri told reporters here.

These 75 units have been sold for Rs 700 crore, he said, the total land size of this project is 9 acres. The prices ranged between Rs 7 crore and Rs 25 crore.

Ohri said the company has launched another project 'Valley Orchard' in Panchkula where it is developing 470 independent floors.

"Out of 470 units, we have launched 400 units. All of them have been sold for Rs 700 crore," he said. The company has sold floors at Rs 9,000 per square feet.

Ohri noted that the demand for properties continues to be strong across major cities from end users, investors and NRIs.

Asked about the DLF's overall sales bookings in this fiscal, Ohri said the company has given a target of Rs 13,000 crore and exuded confidence in achieving it.

In the first six months of this fiscal year, DLF achieved sales bookings of Rs 4,268 crore.

During the last fiscal, DLF sold properties worth Rs 15,000 crore, mainly driven by sales valuing Rs 8,000 crore in a single project 'DLF Arbour' in Gurugram.

DLF has developed more than 158 real estate projects, covering an area of over 340 million square feet.

It has about 215 million square feet of development potential across the residential and commercial segments.

The group has an annuity portfolio of over 42 million square feet.

Its rental assets are parked into DLF Cyber City Developers Ltd (DCCDL), a joint venture with Singapore sovereign wealth firm GIC.