Latest news with #DLFHomeDevelopers
Time of India
4 days ago
- Business
- Time of India
Drawn by demand and high returns, non-Mumbai developers rush to tap city's booming realty market
Mumbai's property market is attracting developers nationwide due to sustained demand and redevelopment potential. Encouraged by high prices and limited land, firms from Bengaluru, Delhi NCR, and Pune are entering through joint ventures and other partnerships. Redevelopment projects, including slum rehabilitation, offer significant opportunities, despite challenges like high costs and regulatory hurdles. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Mumbai is experiencing a rush of property developers from other parts of the country, drawn by sustained demand and the long-term potential of redevelopment-led activity in India's biggest and priciest property by elevated prices amid limited land parcels, developers from markets such as Bengaluru, Delhi NCR and Pune are looking to get a foothold in housing market in India's financial hub continues to record robust performance in registrations and high-value transactions across key micro-markets, attracting developers from outside the the financial appeal of Mumbai's realty market remains strong, challenges persist. High construction costs, complex land ownership structures, and regulatory timelines remain key hurdles."Developers from diverse geographies are entering Mumbai buoyed by financial backing from private equity, and institutional funding under joint venture, joint development, or development management business models," said Niranjan Hiranandani, chairman, Naredco. "Redevelopment projects, including society and slum rehabilitation, stand out as untapped opportunities for these players, often implemented in collaboration with local developers for smoother navigation through approvals, compliance mechanisms, and on-ground execution."Recently, New Delhi-based DLF re-entered the market through a joint venture for a project related to slum rehabilitation scheme in Mumbai's Andheri suburb. The company said it has received bookings for over 416 apartments worth ₹2,300 crore in the project's first phase and 20% buyers are non-desident Indians (NRIs)."Our entry into Mumbai represents a significant strategic milestone for DLF," said Aakash Ohri, joint MD, DLF Home Developers, a 100% subsidiary of non-Mumbai entities including Prestige Group, Embassy Group, RMZ, Puravankara , Blackstone-backed Kolte Patil Developers , and Ramky Estates & Farms have entered the Mumbai property market. Many more are currently exploring options. Most of these have reported robust sales performance on the back of ongoing steady housing demand."The interest from non-Mumbai players for an entry here has grown sharply in recent quarters. For many of them, the partnership model works out to be the best strategy with local execution support, reduced risk, and the ability to leverage a brand," said Gulam Zia, senior executive director, Knight Frank contributed nearly 28% of the total residential sales value across the top eight cities in the first half of 2025, making it a key target for developers."Mumbai appears to be a huge opportunity for a developer like us with a good execution track record. We are fully equipped to manage little complexities in the growth journey. We have so far acquired 7 key projects in the city including South Mumbai," said Rajat Rastogi, CEO, west and commercial business, to industry experts, Mumbai's redevelopment-centric approach shaped by regulatory frameworks such as Development Control & Promotion Regulations (DCPR) 33(7), 33(9), and slum rehabilitation schemes require experience in handling tenant consent, approvals, and municipal processes. This regulatory complexity continues to deter direct entry for many national developers, making partnerships a preferred from Mumbai and its suburbs, satellite towns including Thane and Navi Mumbai, and peripheral markets are also being explored by developers.
New Indian Express
4 days ago
- Business
- New Indian Express
DLF says all 416 homes in Mumbai project worth Rs 2,300 cr sold out within a week
MUMBAI: Real estate developer DLF Home Developers, which announced the re-entry into the nation's costliest realty market -- Mumbai last week with a 416 units project with a price tag ranging from Rs 4.8 crore to Rs 9 crore or an average of Rs 42,500/sqft, said the project has been fully sold out with a potential realisation of Rs 2,300 crore in completion. DLF said Friday that it has sold all the 416 units, including apartments and penthouses, in the first phase of The Westpark project in the suburban Andheri (west) area. The sale kicked off only last week. The Westpark, being developed as a slum rehabilitation project in association with the New Delhi-based Trident Realty, involves four towers of 44 stories each (37 floors for residents). Although the plan was to launch two towers initially, due to high demand it is adding two more towers now in the first phase itself, the company said. 'We sold the entire inventory within a week at an average price of Rs 42,500/square foot. Non-resident Indians accounted for about 20% of the sales. Three of the five penthouses were sold for Rs 35 crore each, at about Rs 70,000/sqft,' Aakash Ohri, the joint managing director and chief business officer of DLF Home Developers told reporters here. 'Our reentry into Mumbai represents a significant strategic milestone for DLF, this city has always been a key component of our national growth strategy, and with the launch of The Westpark, we are proud to offer a development that resonates with the aspirations of the city's discerning residents. 'We are both humbled and gratified by the overwhelming response, the inventory for Phase 1 of the project has been completely sold out in less than a week, a remarkable outcome in a market typically characterised by gradual absorption. Initially, we launched only two of the four planned towers, but due to exceptional demand, we brought all four towers to market, resulting in the sellout of all 416 units,' Ohri said.
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Business Standard
4 days ago
- Business
- Business Standard
DLF's comeback project in Mumbai sees ₹2,300 cr sales in first week
New Delhi-based real estate major DLF's first project in Mumbai, marking its comeback in the market in partnership with Trident Realty, has achieved sales of Rs 2,300 crore. The first phase of the project, launched recently, sold out completely within a week. The company launched four towers as part of the first phase. The project—The Westpark—is a premium residential development located off Link Road, Andheri West, Mumbai. Aakash Ohri, joint managing director and chief business officer of DLF Home Developers (a wholly owned subsidiary of DLF), described the company's success in Mumbai as a bigger statement than Privana North—DLF's luxury project in Gurugram, which generated Rs 11,000 crore in sales within a week of its launch. Ohri told Business Standard that the company was able to command prices between Rs 42,500 and Rs 53,000 per square foot (sq ft) while selling The Westpark, with one of its five penthouses in the first phase sold at Rs 70,000 per sq ft. The company secured margins between 39 and 40 per cent from the sales. DLF, the largest listed Indian real estate developer, holds a 51 per cent stake in The Westpark, with the remaining share owned by Trident, another Gurugram-based real estate company with several projects in Mumbai. 'Initially, we launched only two of the four planned towers, but due to exceptional demand, we brought all four towers to market, resulting in the sellout of all 416 units,' Ohri said. The Westpark spans 5.18 acres and is part of a larger 10-acre master plan. The development will comprise eight residential towers, with the first phase introducing four towers, each rising 37 storeys and offering a total of 416 residences. The homes include a select mix of 3- and 4-BHK residences ranging from 1,125 to 2,500 sq ft (carpet area). Located off Link Road in Andheri West, The Westpark offers access to the Western Express Highway, SV Road, the New Link Road, and upcoming developments like the elevated JVLR and Coastal Road. Residents are expected to benefit from seamless travel across the city, north to south and east to west, DLF added. Ohri stated that the company has already received 5-20 project proposals in Mumbai. 'We want to start and get this product off the ground first, show some strength and ability, and then get down to doing it (more projects in Mumbai),' he added. Additionally, the second phase of The Westpark is expected to launch next year and is anticipated to generate revenues of Rs 2,300-2,500 crore more.
Business Standard
5 days ago
- Business
- Business Standard
DLF announces complete sellout of its 'The Westpark' project in Mumbai
DLF Home Developers, a 100% subsidiary of DLF, through its subsidiary in partnership with Trident Realty, announced the complete sellout of all four towers launched as part of Phase 1 of The Westpark', a landmark residential development located off Link Road, Andheri West, Mumbai. This swift sellout marks DLF's entry into Mumbai's residential real estate market and highlights the company's strategic expansion into key regions across western India. Located in one of Mumbai's most vibrant neighbourhoods, The Westpark spans ~5.18 acres and is part of a larger ~10-acre master plan. The development will comprise eight architecturally distinctive towers, with the first phase introducing four towers, each rising 37 storeys and offering a total of 416 residences. The homes include a select mix of spacious 3 and 4 BHK residences ranging from ~1,125 to ~2,500 sq. ft., (carpet), along with a limited number of exclusive penthouses. Our entry into Mumbai represents a significant strategic milestone for DLF, said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd. Mumbai has always been a key component of our national growth strategy, and with the launch of The Westpark, we are proud to offer a development that resonates with the aspirations of the city's discerning residents. In collaboration with Trident Realty, we have introduced a premium residential offering that reflects DLF's hallmark values of quality, community living, and design excellence built over our 78-year legacy. We are both humbled and gratified by the overwhelming response, the inventory for Phase 1 of the project has been completely sold out in less than a week, a remarkable outcome in a market typically characterised by gradual absorption. Initially, we launched only two of the four planned towers, but due to exceptional demand, we brought all four towers to market, resulting in the sellout of all 416 units.
India.com
18-06-2025
- Business
- India.com
This Indian company sells all 1164 homes, earns Rs 110000000000 in just…, not Adani Properties, Lodha or Hiranandani, but it is….
Real estate major DLF Ltd has sold all 1,164 luxury flats for about Rs 11,000 crore within a week of launch of its new housing project in Gurugram, reflecting that demand continues to be strong for premium residential properties from end-users and investors. With pre-sales of Rs 11,000 crore, DLF has achieved 50 per cent of its sale bookings target for the current financial year. In a regulatory filing on Wednesday, DLF announced that 'sell out of its latest luxury offering, DLF Privana North, valued at approximately Rs 11,000 crore, a historic milestone achieved within just one week'. The project is part of a 116-acre integrated township — DLF Privana in Sectors 76 and 77, Gurugram. The new project 'DLF Privana North' spans 17.7 acres and comprises 1,152 flats (4BHK) and 12 penthouses. The project has six towers rising to stilt+50 storeys, the tallest residential structures to be developed by DLF till date. 'The development embodies DLF's vision of delivering expansive living spaces, breathtaking views, and privacy in the sky,' Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers, said. The strong sales response reflects a clear, latent demand for DLF offerings, driven by the success of our past projects, he added. 'We saw interest from buyers across India and around the world,' Ohri said. Non-Resident Indians (NRIs) share in the total sales stood at 27 per cent. The price of a flat was more than Rs 10 crore, while a penthouse is for around Rs 25 crore. Earlier sources had said, DLF will invest around Rs 5,500 crore to develop this new luxury housing project in Gurugram.
