DLF plans luxury highrise project with over 1,000 apartments in Gurugram

Delhi-based realty major DLF is planning to launch a luxury high-rise project with over 1,000 residential units in its DLF 6 integrated township project, which is currently under development. Industry executives aware of the new launch said that the project is expected to be launched within the next few weeks, and will be positioned across Sectors 76 and 77 in Gurugram. The executive added that the development would focus on mobility, green infrastructure, and resilience, and feature residential and retail developments as well.

 

This comes after the firm had sold out two earlier launched projects — Privana South and Privana West — with 1,113 units and 795 units, respectively, in DLF 6, with a total sales realisation of ₹12,790 crore.

 

Privana South is pegged at ₹6.4 crore per unit for ultra-luxury high-rise apartments ranging between 3,577 sq ft and 5,472 sq ft in size. Privana was launched in 2023. One of the executives said that the new residential project may see prices going up to ₹10 crore per unit. A second market source said that the project is expected to be much bigger in terms of number of units and sales than the earlier two projects in DLF 6.

 

DLF did not comment on queries sent by Business Standard on the potential launch.

 

Aakash Ohri, joint managing director and chief business officer at DLF Home Developers Ltd, had said in an investor conference in March that secondary market sales of some of the Privana homes were up by ₹4,000 per sq ft, giving an indication of the market price change for homes in that price range.

 

“In about two years, Arbour has an upside of almost about ₹8,000 a square foot, which is trading in second markets, and Privana is upwards of ₹4,000. So, that's the kind of trade-up that people are also doing and getting the margins that they're getting today,” he had said. DLF's Arbour project was launched in January 2023 with a price tag of ₹8.5 crore per unit, with deliveries expected in 2027. Privana South's deliveries are expected by 2028.

 

DLF 6 spans across 116 acres along the Southern Peripheral Road (SPR), which is being touted as an upcoming micro market within Delhi NCR. According to a report by real estate consultancy firm Anarock, SPR is a key micro market within Gurugram’s real estate landscape, spanning from the juncture of Gurugram-Faridabad Road near Sector 58 to its convergence with NH-48 in the vicinity of Sector 74A.