India's top developer newest US$1.3 billion luxury project sells out in one week
DLF garnered the highest ever revenue from a single project selling apartments worth more than US$1 million each within a week of starting to take bookings, according to a statement. The houses will be delivered to buyers in about five years. The apartment complex is spread over 17.7 acres in the satellite city of Gurugram that's home to multinationals including Google and American Express.
Luxury housing in India is booming even as demand remains muted in the broader real estate sector. Sales of expensive top-end houses grew by 28 per cent in the first quarter of 2025 across top seven cities in the country, according real estate consulting firm CBRE. Still, the number of homes sold in India's top 15 emerging urban markets fell 8 per cent during the period, real estate analytics firm PropEquity said in a report this month.
'We saw interest from buyers across India and around the world,' said Aakash Ohri, joint managing director of DLF Home Developers.
Last year, DLF booked sales for luxury apartments worth about US$865 million from another project in the same Privana township and sold houses valued at US$970 million at another project in Gurugram in 2023. Demand for these houses is primarily driven by wealthy Indians living abroad who see these as investment.
The appetite for top-end apartments has encouraged other developers to announce similar projects around Delhi. US President Donald Trump's real estate firm plans to build one more residential project in India with partner Tribeca Developers working on a twin-tower luxury project in Gurugram. Godrej Properties is also developing several luxury residential projects in the national capital region.
DLF's latest development comprises 1,152 four-bedroom apartments and 12 penthouses across six towers of more than 50 floors each, making these the tallest residential structures built by the company. BLOOMBERG
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