Page 5 - Luxury Housing

DLF sales bookings jump 2-fold to Rs 13,316 cr in Apr-Dec on high demand

Realty major DLF Ltd's sales bookings jumped two times annually to Rs 13,316 crore during the first nine months of this fiscal, mainly on high demand for its luxury housing properties in Gurugram. During the April-December period of the previous fiscal, the company's sales bookings stood at Rs 6,599 crore. In the 2022-23 fiscal, DLF's sales bookings stood at a little over Rs 15,000 crore, and it is likely to clock higher numbers in the current fiscal. On Wednesday, the company reported a more than three-time increase in its sales booking to Rs 9,047 crore in the December quarter as against Rs 2,507 crore in the year-ago period. This is the highest quarterly sales booking achieved by the company. The record sales bookings in the third quarter were mainly driven by sales of 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the pre-launch last month. In the third quarter of 2023-24, DLF launched three new projects --two in Gurugram and one in ...

Forbes Global enters India realty; will build projects, offer consultancy

Formed in December 2020, Forbes Global Properties entered India through membership network model. It already has a presence in 26 countries where 17,000 agents are providing real estate services

SPRE expect over Rs 1,000 cr revenue from luxury project in Mumbai

Shapoorji Pallonji Real Estate (SPRE) on Wednesday launched a new ultra luxury project in Mumbai with an estimated revenue potential of more than Rs 1,000 crore. The company would develop nearly 60 residential units in 'The Odyssey' project, located off Marine Drive, with a starting price of Rs 15 crore per flat. "The project comprises close to 60 apartments for sale, with revenues exceeding Rs 1,000 crore," SPRE said in a statement. The project has been designed by architect Hafeez Contractor. Venkatesh Gopalakrishnan, MD & CEO, SPRE, said, "At Shapoorji Pallonji Real Estate, we believe in creating more than just structures; we craft environments that redefine luxury and comfort. The Odyssey is a manifestation of this philosophy." With an expected revenue surpassing Rs 1,000 crore, he said, the project signifies a lucrative venture that sets new standards for ultra luxury projects in South Mumbai. "As we make our historic comeback to South Mumbai, we are confident that this ..

Realty reality: Will luxury housing in India lose its sheen in 2024?

Luxury housing in India witnessed a record-breaking year in 2023 as the sales of such homes touched an all-time high. Now, is the demand for these costlier homes likely to continue in 2024 as well?

Gurugram sees up to 45% price rise for premium homes in last one yr: Report

Prices of premium homes -- under construction and ready -- have increased up to 45 per cent in Gurugram in the last one year, according to Savills India. Real estate consultant Savills on Saturday released a report showing that prices of completed housing units have risen by 28-45 per cent in Gurugram during the last one year. Rates of under construction homes were up 12-45 per cent. In Noida, the prices rose by 27-36 per cent for completed units and 23-47 per cent for under construction residential properties. In Gurugram, the Savills report showed that New Gurugram and Dwarka Expressway were the top performing micromarkets with an annual growth of 45 per cent and 21 per cent, respectively in average capital values of under construction properties. Golf Course Road and Golf Course Extension Road & Souther Peripheral Road registered the highest average capital value appreciation for ready-to-move properties with a year-on-year increase of 45 per cent and 39 per cent, ...

MakeMyTrip CEO, Genpact CHRO each buy Rs 33 cr apartment in Gurgaon

Rajesh Magow and Piyush Mehta each secured 6,500 sq ft apartments at The Magnolias by DLF on Golf Course Road, showing the growing demand for luxury real estate

Lowrise takes the high ground: Why it's a homebuyers' favourite choice

Investing in a villa at a prime location is seen as a financially prudent decision that provides appreciation and stability in the long run

Luxury homes the new realty in India: Sales surge 97% in nine months

The trend is expected to continue especially among the non-resident Indians (NRIs) and certain category of millennials with high disposable income

Suraksha Realty directors buy Rs 100 cr sea-facing luxury flats in Worli

The brothers have bought the top-floor apartments in the super luxury project Naman Xena, located on the 26th and 27th floors of the tower

DDA's festive scheme:1,100 luxury flats in Dwarka are available for auction

Penthouses, High-Income Group (HIG), and Super HIG flats at Dwarka 19B, overlooking the upcoming DDA golf course, are priced between Rs 1.4 crore and Rs 5 crore

Risland targets Rs 300 cr revenue from sale of luxury flats in South Delhi

Realty firm Risland India is expecting a revenue of around Rs 300 crore by selling the remaining 39 apartments in its completed ultra-luxury housing project in South Delhi. Global realty firm Risland Holdings forayed into the Indian real estate market in 2019 with its first housing project near Chhattarpur in the national capital at an estimated cost of about Rs 750 crore. In a statement, Risland India said the company has obtained the occupancy certificate (OC) for the 100-metre high-rise project 'Sky Mansion'. Risland CEO Jonathan said the project was officially launched in 2020 but the company is offering possession to its customers in advance as against the official possession date of August 2024. "There are 160 units in the project and out of that 121 units have been sold so far," Jonathan said. The company has achieved sales bookings of Rs 600 crore from these 121 sold units and expects another Rs 300 crore from the balance 39 apartments. Risland India Director (Sales & ...

India saw sale of luxury homes double in first 9 months this year: CBRE

CBRE said that the home sales in the festive season this year are expected to be the highest in three years

Luxury home sales see 115% rise in first 9 months of 2023, led by Hyderabad

"MMR, NCR and Hyderabad outperformed the other cities in luxury housing sales in the first nine months of 2023, with these three cities together accounting for approx. 63,390 units sold

Wealthy Indian diaspora wooed by DLF to buy luxury apartment for investment

Earlier this year, DLF had sold 1,137 apartments costing almost a million dollars each in just three days

Hiranandani Group to invest Rs 2,000 cr on new housing project in Mumbai

Realty firm Hiranandani Group will invest Rs 2,000 crore to develop the first phase of its luxury housing project comprising 330 units at Powai in Mumbai and has already sold 150 units for Rs 1,100 crore within the first week of launch. In a statement on Monday, Hiranandani Group said it has launched a new housing project 'Empress Hill' at 'Hiranandani Garden' township in Powai. The company will develop a total of 5 lakh square feet area in phases. In the first phase, the company on October 8 launched 3.3 lakh square feet area comprising 330 units across three residential towers. The total construction cost to develop the first phase is estimated at around Rs 2,000 crore, the company said. Hiranandani Group said it has already sold 150 units, worth Rs 1,100 crore, within the first week of the launch of this project. The average size of apartments ranges from 1,100 square feet to 1,600 square feet and the price range is Rs 6 crore to Rs 10 crore. "The COVID pandemic quandary and .

Amid lower demand, new supply of affordable homes dipping in India: Anarock

On the other hand, the supply of luxury homes is rising as developers are focusing on earning higher margins and profits

Demand for luxury homes overtakes affordable ones for first time in India

The number of homes sold in India in July-September quarter this year touched a six-year-high: Knight Frank

Luxury homes see highest average price appreciation since 2018: Anarock

Hyderabad recorded the highest jump of 42 per cent in the average price of luxury homes between 2018 and the first six months of 2023

Galaxy Group, Sawasdee to invest Rs 1,000 cr to build luxury flats in Delhi

Realty firm Galaxy group and Sawasdee group will invest more than Rs 1,000 crore to develop a luxury project at Lodhi Road in the national capital. Noida-based Galaxy group has completed two commercial (office-cum-retail) projects in Greater Noida (West), known as Noida Extension, and is developing many projects in Delhi-NCR. "We have been allotted three plots totalling 43,345 square metres at Lodhi Road by Rail Land Development Authority (RLDA)," Pradeep Kumar Agrawalla, chairman of both Galaxy and Sawasdee groups, told reporters. Out of the total land parcels, he said the company would get around 16,000 square metre to develop residential units for sale purpose, while it will have to develop 278 staff quarters for the RLDA on about 27,000 square metres land. He said the company would develop around 5 lakh square feet of residential properties for sale purpose. "We have to pay around Rs 350 crore to RLDA in instalments," Agrawalla said. He said it would take at least a year to t

Sales of luxury homes in India rose 130% in January-June period: CBRE

The surge in demand was primarily driven by a growing preference for enhanced amenities and more spacious living areas