DLF, a major real estate developer, has reportedly sold all 800 luxury apartments launched in their new project, Privana West, within a week. Located in Sector 76, Gurugram, the project has been a significant revenue generator for the company.
Privana West launched on May 1st, offering 800 units in two sizes (3,500 sq ft and 4,500 sq ft) with prices starting from ₹6.5 crore. Total sales are estimated to be over ₹5,000 crore.
The project occupies 12.6 acres and was announced at an all-inclusive price of ₹19,500 per sq ft. Sources claim all units have been sold, potentially generating new sales bookings between ₹5,000 and ₹6,500 crore for DLF in Q1 of FY25.
This follows the success of DLF’s Privana South launch in the past six months. The 1,113 units in that project also garnered strong interest, leading to ₹7,200 crore in sales bookings for DLF in Q3 FY24.
DLF owns over 116 acres of land in Sectors 76 and 77 of Gurugram. With Privana South and West, they now have 78.4 acres dedicated to these luxury developments.
While the new project is half the size of Privana South, the apartments were offered at a higher price point. Experts attribute this to DLF’s promise of earlier delivery. They are still evaluating if the market can sustain such pricing in the long term.
