DLF sells all 800 apartments in 'Privana West' project within a week

Real estate giant DLF has reportedly sold all 800 apartments in less than a week for their project 'Privana West' located in DLF 6 in Sector 76, Gurugram. The project has become a significant revenue generator for the company.

Launched on May 1, 'Privana West' offered 800 units in two sizes: 3,500 sq ft and 4,500 sq ft, with prices starting from ₹6.5 crore. The sales have fetched approximately over ₹5,000 crore, as per estimates.

Covering 12.6 acres, the project was introduced with an all-inclusive price of ₹19,500 per sq ft. Sources reveal that all 800 units have been sold out, with expected new sales bookings between ₹5,000 and ₹6,500 crore in Q1 of FY25.

Previously, DLF launched 1,113 units in 'Privana South' over the last six months, garnering a positive response from both end-users and investors, resulting in new sales bookings of ₹7,200 crore in Q3’s FY24.

DLF currently owns over 116 acres of land in Sectors 76 and 77 in Gurugram. With the launch of 'Privana South' and 'Privana West,' the company now possesses 78.4 acres of land in this area.

Interestingly, the size of the new project launch is half that of the earlier one. However, DLF offered these 800 apartments at a higher price compared to the previous projects in the region. DLF apartment sales saw an increase despite the smaller project size and higher pricing.

Experts attribute the price increase to the company's commitment to early delivery. However, they are assessing whether the market in the region can sustain such pricing in the future. Property investment opportunities are being analysed in light of these pricing trends.

DLF's 'Privana West' project witnessed a remarkable success, with all units sold out within a short span. It marks a significant achievement for the company in terms of revenue generation.