DLF's Privana North in Gurugram sees strong NRI demand, with US-based buyers accounting for 30% of overseas sales
DLF announced on June 18 that its newly launched luxury housing project, Privana North in Gurugram, has generated over ₹11,000 crore in sales within a week. The company attributed the strong response to robust housing demand, particularly from NRIs in countries such as the US, UK, GCC nations, and Singapore. Canada, Indonesia, Australia, and Kuwait emerged as new markets.
On the domestic front, DLF witnessed strong interest from buyers across a wide range of cities, including Jaipur, Jalandhar, Agra, Ludhiana, Muktsar, Amritsar, Mumbai, Kolkata, Panipat, Chennai, Ambala, Bengaluru, Karnal, Udaipur among others, in addition to Gurugram, Delhi, and Noida.
In a regulatory filing on June 18, DLF announced "sell out of its latest luxury offering, DLF Privana North, valued at approximately ₹11,000 crore, a historic milestone achieved within just one week."
'We've seen interest from buyers across India and around the world,' said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, in a conversation with HT Digital.
'Over the years, we've built a strong DLF diaspora. For Privana North, we've received strong interest from the US, UK, GCC countries, and Singapore, with Canada, Australia, Jakarta, and Kuwait emerging as new markets. Nearly 30% of overseas sales for the project have come from US-based Indians,' he said.
The company unveiled the name and first look of DLF Privana North at New York City's iconic Times Square a few days ago.
'Southeast Asia contributed about 15% of our NRI business, particularly from countries like Singapore, Hong Kong, and Jakarta,' Ohri said.
Speaking about the response to Privana North from NRIs, he said, 'Given the current geopolitical uncertainties, the Indian diaspora is increasingly looking for high-quality homes in India, properties that match the standards and lifestyle they're accustomed to abroad.'
The real estate major has attracted domestic buyers from nearly 22 cities across India for its Privana North project in Gurugram, double the outreach compared to the launch of Privana South and West last year, which saw interest from 11 cities.
'We've significantly expanded our outreach across the country,' said Ohri.
'What's interesting is how Gurugram is evolving, not just as a residential destination but also as a preferred market for real estate investors. While our focus remains on end users, with 85% of buyers being actual homebuyers and 15% investors, the investor interest is also growing,' he said.
'Over 10% of domestic sales have come from non-metro markets. In total, buyers from 22 cities across India have invested in the project,' Ohri said.
Beyond Gurugram, Delhi, and Noida, DLF has received bookings from buyers in Jaipur, Jalandhar, Agra, Ludhiana, Muktsar, Amritsar, Mumbai, Kolkata, Panipat, Chennai, Ambala, Bengaluru, Karnal, Udaipur among others, he said.
'Aspirational homebuyers from these cities are increasingly shifting focus from Delhi to Gurugram,' said Ohri. 'Many have children studying or working here, and their businesses often bring them to Delhi. Instead of staying in hotels during frequent visits, four to five times a month, they prefer owning a home. These aren't just investors, but end users or their family members actively occupying the units.'
Also Read: DLF secures RERA approval for Privana North luxury project in Gurugram
He noted that Gurugram has evolved into a cosmopolitan hub, welcoming people from across the country. 'It's become a melting pot,' Ohri said.
He also pointed to a post-COVID shift in buyer behaviour. 'Many of our customers - entrepreneurs, business leaders, CXOs, capital market participants- have reassessed their portfolios. After being overexposed to equity markets, they are now prioritising stable, high-quality residential assets,' he said.
Located in Sectors 76 and 77 of Gurugram, DLF's Privana North luxury apartments are part of the 116-acre integrated township, DLF Privana. The project spans 17.7 acres and comprises six premium towers rising to stilt+50 storeys, DLF's tallest residential buildings to date.
It offers 1,152 four-bedroom residences and 12 penthouses. The 4 BHK apartments measure a carpet area of around 207 square meters (2236 square feet) and penthouses extend up to around 450 square meters of carpet area (4847 square feet). 'While the average price of apartments is around ₹9.5 crore, penthouses cost ₹25 crore," Ohri added.
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