DLF Enters Mumbai, Chennai Realty Markets
DLF, is diversifying into residential-property markets of Mumbai and Chennai after focusing on its home turf, the National Capital Region (NCR). “We have completed and delivered our projects across the country in Chennai, Bengaluru, Kolkata, Kochi, Indore, Lucknow, and Chandigarh Tricity. We are in the process of evaluating the best development plans for the residual land parcels in some of these cities and will plan launches accordingly, in addition to reinforcing the selling of the residual inventories,” said Ashok Tyagi, wholetime director, DLF. DLF in 2012 sold 17 acres of prime land in Mumbai to Lodha Developers for about Rs 2,700 crore, nearly four times higher than the price at which the company had bought this parcel in 2005. It has another land parcel in Mumbai. DLF has 15 million square feet in Chennai and a significant area in Hyderabad. It will venture into Bengaluru at some time in future. DLF has a joint venture with Singaporean fund GIC for its commercial arm DLF Cyber City Developers. Though a lot of consolidation opportunities were emerging in cities such as the NCR, the company was not tempted to tap them.
Tags : News/Views residential Mumbai DLF NCR Chennai Realty Markets