a lot of money If so then even expensive things start looking cheap. Perhaps this is what is happening in the real estate sector at the moment. Flats worth crores of rupees are being sold as if they were worth a few thousands. We are talking about the very luxurious residential project ‘The Dahlias’ being developed by real estate company DLF in Gurugram. There is a competition to buy apartments worth crores in this project. Now this project has not even started but booking of apartments is going on in full swing. DLF has so far sold 173 apartments in this luxurious project, with a total area of 18.5 lakh square feet and has earned the company Rs 11,816 crore. DLF has received an average of about Rs 70 crore per apartment.
Now preparing to sell the remaining 247 apartments
Let us tell you that DLF has decided to sell the remaining 247 apartments in ‘The Dahlias’. The company expects a revenue of at least Rs 23,000 crore from the sale of all these apartments. That means the price of 1 apartment will be more than Rs 93 crore. In October last year, DLF had launched ‘The Dahlias’, a 17-acre ultra-luxurious residential project in DLF Phase-5 in Gurugram, which includes 420 apartments and penthouses. The minimum size of an apartment is 10,300 square feet. “The remaining 27 lakh sq ft area will be sold. It is currently valued at around Rs 23,000 crore,” DLF said in the presentation, according to an investor presentation.
A tremendous trend is being seen
DLF Group Chief Executive Officer (CEO) Ashok Tyagi had said on Saturday that there is a very strong demand for this special offer. DLF is the largest real estate company in the country in terms of market cap. It has a strong presence in the markets of Delhi-NCR and Tamil Nadu. The company has developed more than 185 real estate projects since its inception. The group has 220 million sq ft of development potential across residential and commercial sectors. The group has an annuity portfolio of over 44 million sq. ft. DLF is primarily engaged in the business of development and sale of residential properties (development business) and development and leasing of commercial and retail properties (annuity business).
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