In a groundbreaking triumph, DLF Real Estate Developers Ltd.’s recently unveiled luxury housing project, Privana South in Gurugram, has set the real estate market ablaze with an astonishing pre-launch sales figure of over ₹7,200 crore in just 72 hours. The opulent venture saw a spectacular response, subscribing 4.5 times its initial offering within a brief period.
Global Appeal and Unprecedented Demand
Aakash Ohri, the Joint MD and Chief Business Officer, revealed that the Privana South project has not only captured the attention of domestic buyers but has also attracted interest from international investors. For the first time, buyers from Africa, particularly Tanzania and Kenya, have participated, marking a significant global expansion for DLF. The buyer profile boasts a mix of corporate honchos, lawyers, doctors, and non-resident Indians (NRIs) from around the world.
Responsible Pricing and Strategic Planning
DLF Real Estate maintains competitive pricing for Privana South, aligning with Arbour’s success from the previous year. The average ticket size for this project is ₹7 crore, showcasing a commitment to catering to diverse economic demographics.
Buyers restricted to one unit, with a ₹50 lakh booking amount, surpassing the ₹10 lakh industry standard. The end-user to investor ratio stands at an impressive 80:20, demonstrating a focus on fostering genuine homeownership.
Apple-Like Fervor in Real Estate
Comparing the response to the launch to the anticipation surrounding a new Apple phone release. Ohri highlighted the loyalty and enthusiasm of DLF customers, who eagerly await each new project. The Privana South enclave, consisting of 1,113 luxury residences across seven towers. Offers fully fitted-out 4 BHK apartments and penthouses, promising a lifestyle synonymous with the DLF brand.
Beyond Privana South: DLF’s Phenomenal Growth
Privana South is part of the larger development, DLF Privana, spanning approximately 116 acres in Sectors 76 and 77. DLF’s strategic entry into Gurugram’s Southern Peripheral Road (SPR) region, a burgeoning business hub, aligns with the company’s commitment to innovation and growth.
DLF surpasses ₹13,000 crore sales guidance for 2023-24 in the first three quarters, propelled by Privana South’s stellar success. The company remains on track with more luxury launches planned in the current quarter, reinforcing its dominance in the high-end real estate segment.
Future Prospects and Construction Milestones
DLF Privana South to start construction next fiscal year, ensuring RERA compliance for timely delivery. The project’s design by the renowned architectural firm ARCOP promises a luxurious living experience, complemented by a majestic view of the Aravalli range.
In conclusion, DLF’s Privana South not only signifies a triumph in the luxury real estate market but also reflects the evolving dynamics of India’s real estate landscape. DLF Real Estate redefines standards with Privana South, showcasing unwavering commitment to excellence and innovation.