DLF is set to introduce real estate projects in Gurugram, Mumbai, and Goa, with a potential sales value of ₹36,000 crore.

Major real estate company DLF intends to start new real estate projects this fiscal year that will total about 11.6 million square feet and have a sales potential of nearly ₹36,000 crore. The year’s major launches are anticipated to take place in Mumbai, Goa, and Gurugram. On May 15, Aakash Ohri, Chief Business Officer and Joint Managing Director of DLF Home Developers Ltd., told Hindustan Times Digital.
According to the company’s top official, DLF plans to introduce super luxury projects in Gurugram in DLF 5 LUX5 (MINI CAMELLIAS OR CAMELLIAS 2) in Q3, Goa in Q2, a premium project in Mumbai in Q4, and a luxury project in DLF Privana (Privana phase 3) in Q4.

The developable potential of DLF’s residential project pipeline for the year is ₹36,000 crore. We have specified a sales target that is approximately ₹17,000 crore. Should the sales velocity exceed ₹17,000 crore, we won’t stop there, Ohri declared.

DLF Camellias 2 Gurgaon Golf Course Road Brochure Download

DLF Mini Camellias Gurgaon Golf Course Road Brochure Download

DLF Lux5 Gurgaon Golf Course Road Brochure Download

Mumbai project

DLF is planning to launch its first project in Mumbai in the fourth quarter of 2024.

“We intend to begin work on our Mumbai project by the end of the current year’s fourth quarter. By then, we hope to have obtained all necessary approvals. By then, the site is expected to be fully cleared and the barricading completed, he stated.
Together with the Trident Group, the company is developing the Slum Rehabilitation Authority project. In July 2023, the publicly traded company declared its intention to reenter the Mumbai real estate market.

DLF plans to take the Camellias’ super luxury story to the next level in Gurugram

“We are now ready to forge ahead with LUX5 (MINI CAMELLIAS OR CAMELLIAS 2) in Q3, 2024 and the price points are expected to be reasonably higher, much higher than Magnolias which is currently trading around ₹40 crore,” the statement reads, building on the success of the Camellias story in Gurugram. It is also anticipated that Lux 5 will be more opulent than Camellias. “Only by Invitation” is how Ohri described the product.

DLF Mini Camellias Gurgaon Golf Course Road Brochure Download

DLF Mini Camellias Gurgaon Golf Course Road Brochure Download

The project will have about 420 apartments.

Regarding design, Ohri stated that since Gurugram now has two golf courses, an artificial lake is anticipated to be Lux5’s USP. The ultra-luxurious apartments will have a lake park view. The project’s design will resemble ultra-luxury developments in the US and Europe, he added, with walkways and cafes serving as key components.

Privana Phase 3 to be the new Crest

According to Ohri, Privana 3, which is anticipated to be released in the fourth quarter of this year, will be “better than Crest.”
Privana occupies 116 acres and is tucked away between major thoroughfares like the Dwarka and Jaipur expressways. It is also close to the Leopard Safari, also referred to as Gurugram’s “green lungs.”
Prices for Privana 3 are probably going to be at least 10% to 15% higher than those of Privana West when it launches. It’s going to be DLF 6 next,” he declared.

On May 9, DLF announced that, thanks to strong demand for housing, it had sold all 795 of the apartments in its second phase of the Privana project in Gurugram for ₹5,590 crore in just three days. The company announced in a regulatory filing that DLF Privana West, its most recent luxury residential project, had “a remarkable sellout valued at approximately ₹5,590 crore, within 3 days.”

Percentage of end-users and NRIs on the rise; DLF to target NRI sales in Australia and Canada 

DLF reported that end users make up nearly 70% of purchasers. Buyer profiles include international non-resident Indians, lawyers, doctors, and corporate executives.
“Top lawyers, entrepreneurs, physicians, and corporate executives make up our buyer base. The first ₹50 lakh tranche is paid in large part by internal accruals, which could include savings, company bonuses, etc. Eventually, they obtain a house loan, which they pay off ahead of time, according to Ohri.

DLF Camellias 2 Gurgaon Golf Course Road Brochure Download

DLF Camellias 2 Gurgaon Golf Course Road Brochure Download

As for non-resident Indian buyers, they comprise around 20% to 25% of the total pie of the buyers.

The total yearly NRI sales for DLF are between 22% and 24%. About 27% applied to Privana West. Also, NRIs have a reputation for holding onto their properties for longer. According to Ohri, NRIs who invest in DLF properties typically intend to return within the next four to five years or want to have a property back home for their yearly visits or for their kids.
DLF is currently looking into nations like Australia and Canada. DLF attracted NRIs from the US, Africa (first Tanzania and Nigeria), the United Kingdom, South East Asia, and the Middle East to invest in its Privana offerings.

Increase in buyers from Tier 2 cities for super luxury projects

Ohri stated that he anticipates a rise in the quantity of purchasers from Tier 2 cities in this fiscal year. Buyers from Kanpur, Ludhiana, Bengaluru, Bhubaneswar, and Kolkata are increasingly purchasing ultra-luxury real estate. When we launch Lux5 in Gurugram this fiscal year, their share, which was only roughly 5% when we launched Camellias, might double, he said.

Buyers in early 30s investing in luxury projects

The buyer of real estate is becoming younger every day. “For the Privana West project, the average age of the real estate buyer is thirty years,” Ohri stated, adding that this trend is anticipated to persist.
Over half of Gurugram’s luxury project profit margins
DLF’s profit margins are derived primarily from luxury projects located in Gurugram. “Privana’s launch resulted in profit margins that were almost between 35% and 40%. Lux5 is anticipated to generate higher profit margins, Ohri informed HT Digital.
Regarding the launch in Mumbai, “we will go above and beyond.” Although the margins might be constrained at first, Ohri expressed confidence that Mumbai will prove to be a robust portfolio for them.

Plans for Noida

When “offers come along for land parcels that have a clear title,” the company intends to move into Noida. “We took our time entering Mumbai, and as far as Noida is concerned, nothing seems wrong. That being said, we are currently focusing on the Gurugram real estate market, but I don’t think we can avoid Noida for very long,” he remarked.

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