DLF reduces Bangalore project price by 24 per cent

DLF, the largest real-estate player in the country, has reduced the price of its residential project in Bangalore by around 24 per cent. The revised price of the project — Westend Heights in New Town, Bangalore — is less than Rs 2,100 per sq ft as against the October 2008 launch price of Rs 2,775.

The new price would be applicable with retrospective effect, so that customers who had booked flats in 2008 are benefited.

When contacted, a company spokesperson said DLF "is passing on the benefit of reduced input costs to give greater value to its customers. Our intention is to make it affordable for the common man”.

Another senior official of the company said the most interesting feature of the project was that bigger apartments carried lower price per sq ft.

On the issue of delay in other projects in New Gurgaon, the spokesperson said that the company had not put on hold any project where it had made commitments to customers. This included DLF New Town Heights and Express Greens. DLF would deliver the projects on time, he added.

DLF has launched new residential projects in Hyderabad and Bangalore, and will be launching more projects soon.