Increasing competition in the luxury residential property sector, India’s biggest realty player DLF said it will sell having a price tag of Rs 4 crore per flat in the center of the National Capital.
The company is selling 150 luxury apartments subsequent to the introduction of the 3rd phase of its housing project, Capital Greens near Central Delhi. The price of per sq. ft of the flat is Rs 11,000.
Rajeev Talwar, DLF Group Executive Director said, “There is very strong demand for luxury products and if we offer a good product at a competitive rate, it will sell”.
While the costs of flats are very steep, they are still very reasonable compared to those charged by other developers in the city for the luxury market, he claimed.
Competitor Parsvnath has 2 residential projects in the National Capital, one at Subhash Nagar (West Delhi) costing Rs 7,500 per sq ft and the other at Civil Lines (North Delhi) costing Rs 10,000 a sq ft. Emaar MGF is pricing flats at Rs 12,700 per sq ft in its Commonwealth Games project.
Talwar said DLF’s 3rd phase will include only 4-BHK apartments, with the size of each being around 3,000 sq ft. He added further that 70 flats have already been booked and the bookings will remain open till every flat is sold off.
With economy hotting up and no major change in home loans, the project is likely to find many buyers.
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