Latest news with #AakashOhri
Bloomberg
15 hours ago
- Business
- Bloomberg
Top India Realtor's Mumbai Comeback Project to Roll Out in July
DLF Ltd. plans to start bookings in a premium residential project in Mumbai next month, marking the return of India's top developer to the financial capital after thirteen years as it seeks newer growth markets. 'We'll be launching the Mumbai project in July,' Aakash Ohri, joint managing director at DLF said in an interview, adding that the market held 'immense potential.' The developer plans to build eight towers in two phases, with apartments priced upwards of 50 million rupees ($577,480), according to its website.
India.com
2 days ago
- Business
- India.com
This Indian company sells all 1164 homes, earns Rs 110000000000 in just…, not Adani Properties, Lodha or Hiranandani, but it is….
Real estate major DLF Ltd has sold all 1,164 luxury flats for about Rs 11,000 crore within a week of launch of its new housing project in Gurugram, reflecting that demand continues to be strong for premium residential properties from end-users and investors. With pre-sales of Rs 11,000 crore, DLF has achieved 50 per cent of its sale bookings target for the current financial year. In a regulatory filing on Wednesday, DLF announced that 'sell out of its latest luxury offering, DLF Privana North, valued at approximately Rs 11,000 crore, a historic milestone achieved within just one week'. The project is part of a 116-acre integrated township — DLF Privana in Sectors 76 and 77, Gurugram. The new project 'DLF Privana North' spans 17.7 acres and comprises 1,152 flats (4BHK) and 12 penthouses. The project has six towers rising to stilt+50 storeys, the tallest residential structures to be developed by DLF till date. 'The development embodies DLF's vision of delivering expansive living spaces, breathtaking views, and privacy in the sky,' Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers, said. The strong sales response reflects a clear, latent demand for DLF offerings, driven by the success of our past projects, he added. 'We saw interest from buyers across India and around the world,' Ohri said. Non-Resident Indians (NRIs) share in the total sales stood at 27 per cent. The price of a flat was more than Rs 10 crore, while a penthouse is for around Rs 25 crore. Earlier sources had said, DLF will invest around Rs 5,500 crore to develop this new luxury housing project in Gurugram.
Hindustan Times
2 days ago
- Business
- Hindustan Times
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.
Time of India
2 days ago
- Business
- Time of India
Luxury properties continue to fly off the shelves in Delhi-NCR
This is a representational AI image NEW DELHI: The trend of luxury properties by the trusted companies being lapped up continues in Delhi NCR. India's biggest real estate company, DLF, on Wednesday announced a sellout of its latest luxury offering in Gurgaon — DLF Privana North that has 1,152 four-BHK residences and 12 penthouses across six premium towers rising to a stilt plus 50 storeys, valued at Rs 11,000 crore within just one week. This is incidentally the tallest residential structures developed by DLF to date. Last month, Smartworld Developers and Tribeca Developers had said they had sold all 298 units in their Trump-branded residential project in Gurugram, each costing up to Rs 15 crore. And this March, Gurgaon had set a record when DLF sold 173 apartments worth Rs 11,816 crore in nine weeks at upcoming Dahlias — north India's most expensive soon-to-be-launched condominiums. The interest from NRIs continues to remain strong. In FY 2023, DLF generated $240 million in sales from NRI investors, representing about 14% of total sales. This rose to NRIs lapping up DLF's worth $408 million in FY 2024. And in FY 25, this figure was $421 million. NRI buyers have accounted for 25% of sales in DLF Privana South (around $216.1 million), 27.8% in DLF Privana West ($180 million), and 14% in The Dahlias. About Privana North sellout, DLF Home Developers' joint MD and chief business officer Aakash Ohri said: 'The strong sales response reflects a clear, latent demand for DLF offerings, driven by the success of our past projects. We saw interest from buyers across India and around the world.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Real estate giant DLF aims to launch Mumbai project by next quarter
DLF will officially launch its Mumbai housing project in the next quarter as the company has received the RERA approval a day before, while the real estate major sold out all 1,164 units in its luxury residential project Privana North securing Rs 11,000 crore revenue, DLF Homes joint managing director and chief business officer Aakash Ohri told Business Standard. About 25 per cent of the purchases have come from non-resident Indians (NRIs) and overseas buyers from Canada, Australia, and Jakarta, he added. Located in Gurugram's Sectors 76 and 77, the 17.7-acre project includes six residential towers rising up to stilt plus 50 storeys, which are DLF's tallest buildings to date. The project includes 1,152 4-BHK units and twelve penthouses. According to people in the know, the average ticket price per unit stood at around Rs 9.5 crore, while all penthouses were priced at around Rs 25 crore each. Attributing India's geopolitical stability versus global instability as a factor contributing to this growth, he said that NRIs today are investing in properties with DLF, which are almost commensurate to the lifestyles that they have been living in whichever country they are. 'It is no more just an investment as they want home away from home, especially in their country of birth or even for their family,' he added. Speaking in an analyst call last month Ohri had said that there has been a sizable demand for both its upcoming products, in Privana and Mumbai, from local micro markets as well as from the rest of the country as well as non-resident Indians (NRIs). 'DLF products are agnostic to geography in terms of investors. So today, one is looking at various sets of people who are wanting to pick up a DLF home as not only do they make money in capital appreciation, but once you lease them out, you have recurring income also,' he had added. The company has been witnessing an uptick in NRI investments for its luxury and ultra luxury products over the years. In the financial year 2022-23 (FY23), DLF generated $240 million in sales from NRI investors, representing approximately 14 per cent of total sales. This number increased to $408 million in FY24 and $421 million in FY25 This project is the third phase within DLF's 116 acre integrated Privana project, following its launches of Privana South and West in 2024, which included 795 and 1,113 units respectively. In these projects, NRI buyers accounted for 25 per cent and 27.8 per cent of the total sales in DLF Privana South and Privana West respectively, according to numbers shared by the company. Commenting on the sell out of Privana North, Ohri said that the strong sales response reflects a clear, latent demand for DLF offerings, driven by the success of our past projects. The Privana project is located along the Southern Peripheral Road (SPR) in Gurugram, which is being touted as an upcoming micro market within Delhi NCR. DLF's aggressive push in Gurugram comes even as it is planning to launch residential projects with an estimated sales potential of Rs 73,900 crore in the medium term, according to the company's investor presentation. 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.
