DLF to Launch 7.7 Million Sq Ft of Projects in FY22
DLF Ltd plans to launch 7.7 million sq ft of real estate projects in the second half of 2021-22 with projects that includes value homes, premium housing and commercial properties. This is one of the biggest targets set by the real estate developer in recent times. The company is also expected to announce the launch of the first phase of Midtown West, a premium residential complex on Shivaji Marg in central Delhi’s Moti Nagar, which it will develop in a joint venture with Singapore sovereign fund GIC. The project, with a revenue potential of Rs 12,000-15,000 crore, will have 3-4 BHK apartments. This will be the first residential project of the joint venture, which already operates over 32 million sq ft of office space. Aakash Ohri, Senior Executive Director of DLF Home Developers, said that the company will launch inventory worth Rs 800 crore of independent floors in Gurgaon. He said this will be followed by a similar format in Panchkula, which will be worth close to Rs 400 crore, and plotted development on Old Mahabalipuram Road in Chennai worth Rs 600 crore. In addition, the company is also in the final stages of approvals for the central Delhi project.
Tags : News/Views GIC Office space properties commercial revenue DLF Ltd. Premium Housing Value Homes Singapore Sovereign Fund DLF Home Developers