Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing
Wholetime director and CEO Rajeev Talwar to step down on March 31
It also plans to expand its residential presence in Chennai and Kochi
Realty major DLF and US-based Hines will invest around Rs 1,300 crore to construct the first phase of a premium commercial project, largely office space, in Gurugram, a senior company official said.
The Maharashtra government has slashed premiums and levies charged on construction by 50 per cent, till December 31
DCCDL is a JV between DLF - the largest publicly listed real estate company in India - and Singapore's sovereign wealth fund GIC
Realty major DLF's rental arm DCCDL has entered into an agreement to acquire the stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore
Hines has around nearly 52 per cent stake in the One Horizon Centre while the rest is with DCCDL
In the past month, the realty index has rallied 21 per cent against 6 per cent gain in the Nifty50 index
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The developer started concentrating on Delhi-NCR after selling some of its land parcels in cities such as Mumbai in 2012 to reduce debt.
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For DLF, a "Higher High, Higher Low" formation on the weekly chart illustrates a firm trend ahead.
The company has plans to launch multiple projects over the next few years
Realty majorDLF Ltd has sold nearly 90 independent floors worth over Rs 300 crore in Gurugram and plans to launch more such projects as demand for premium residential properties has revived in last few months. The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others. "Recently we launched 88 residences in form of premium independent floors (at a price point of Rs 3.75 - 4.25 crores each), spread across 22 plots, in the DLF City Phase 3...in Gurugram. These were sold out in a record time," said Aakash Ohri, Sr Executive Director Sales & Director, DLF. The company plans to launch similar products in Panchkula, Tri-city, New Gurgaon and wherever there is an opportunity in DLF phase 1 to 4, he told PTI. "With an improved attractiveness for real estate as a preferred asset class, against other traditional alternatives, home buyers are looking at safeguarding their accumulated savings by investing in a more long-term asset," ..
Pick-up in demand and supportive measures from the government have aided in revival of sentiments for the sector.
With the Cyber Park project rents commencing, expect the growth on the rental front to remain steady
DLF arm's REIT could come out in 12-15 months, DLF director Ashok Tyagi said in a conference call last week
Major stocks are preparing for next leg of breakouts.
DLF is targeting to achieve sales bookings of Rs 2,500 crore in the ongoing fiscal, marginally better than the previous year, despite the pandemic with housing demand picking up since June onwards