“DLF’s Privana South Shatters Records with ₹7,200 Crore Sales in 72-Hour Blitz”

DLF Home Developers Ltd has set a new benchmark in the real estate industry with the astounding success of its latest luxury housing project, Privana South. Within a span of just 72 hours, the project amassed an unprecedented ₹7,200 crore in sales, showcasing the immense demand and confidence in India’s burgeoning real estate market.

Aakash Ohri, the Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd, expressed elation at the overwhelming response, revealing that the project was oversubscribed by a staggering 4.5 times. This remarkable feat parallels the fervor seen during iconic Hollywood blockbuster launches and even the highly anticipated unveilings of new Apple devices.

The luxury residences, comprising 1,113 units spread over seven towers in Gurugram’s Sectors 76 and 77, witnessed an eclectic mix of buyers, including NRIs from diverse corners of the globe. Notably, this launch attracted interest from Africa, marking a milestone as buyers from Tanzania and Kenya participated for the first time in DLF’s offerings.

The project’s success reflects the trust and loyalty of customers towards the DLF brand, drawing a parallel to the fervent anticipation and loyalty observed among Apple enthusiasts. Ohri emphasized that DLF’s customers, much like Apple’s, value the unique experience and eagerly await each new launch, underscoring their commitment to the brand.

Despite the exuberant response, DLF maintained a focus on responsible pricing, keeping the unit prices in line with the previous Arbour launch. The average ticket size for the Privana South project ranges around ₹7 crore, with individual unit prices varying between ₹6.25 crore and ₹7.15 crore.

The sales composition showcased a notable 80:20 ratio between end-users and investors, attracting a diverse array of buyers, including corporate leaders, legal professionals, and medical practitioners, alongside both local and international buyers from the US, UK, South East Asia, the Middle East, and now Africa.

To ensure fair distribution and discourage bulk bookings, DLF implemented a policy allotting only one unit per buyer. The project also witnessed substantial interest from NRIs, constituting approximately 25% of the sales, each requiring a booking amount of ₹50 lakh, significantly higher than the industry norm of ₹10 lakh.

The meticulously designed project by architectural firm ARCOP will offer fully fitted-out 4 BHK apartments and penthouses, spanning 3500 sqft each across the sprawling 25-acre enclave.

While construction is slated to commence in the upcoming fiscal year, DLF remains committed to adhering to RERA guidelines for project handovers.

This monumental success has reportedly propelled DLF beyond its 2023-24 sales guidance of ₹13,000 crore in the first three quarters alone, setting the stage for further launches in the luxury segment in Gurgaon in the current quarter.

DLF Home Developers Ltd’s Privana South has not only redefined luxury living but has also solidified DLF’s stature as a frontrunner in the dynamic Indian real estate landscape, showcasing its unwavering appeal among discerning buyers worldwide.

Surces By Agencies

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