Latest news with #Privana
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Business Standard
8 hours ago
- Business
- Business Standard
DLF secures RERA approval for Privana North project, launch by Q1-end
Realty major DLF on Sunday secured Haryana RERA's approval for its upcoming luxury residential project, Privana North, located in Gurugram's Sector 76 and 77. The 17-acre project is expected to include six residential towers with around 1,164 housing units and five commercial units, according to documents available on the Haryana RERA website. This would be the third phase within DLF's 116-acre Privana project, following its launches of Privana South and West in 2024, which included 795 and 1,113 units respectively. Both projects saw a good response from investors, selling out completely within 72 hours for a combined approximate sales realisation of over ₹12,790 crore. While DLF did not respond to queries sent by Business Standard, the company, in an analyst call held last month, had stated that Privana North is expected to be launched towards the first quarter of the financial year 2025–26 (Q1 FY26). 'As soon as we have our paperwork in terms of RERA done, we will be in the market very soon,' Aakash Ohri, joint managing director and chief business officer at DLF Home Developers, had stated. Speaking on the demand for the project, Ohri had said that there has been sizable demand for both its upcoming products—in Privana and Mumbai—from local micro markets, the rest of the country, and non-resident Indians (NRIs). 'DLF products are agnostic to geography in terms of investors. So today, one is looking at various sets of people who are wanting to pick up a DLF home, as not only do they make money in capital appreciation, but once you lease them out, you have recurring income also,' he added. In the analyst call, the company had added that the two Privanas sold out last year are currently trading at a premium of ₹2,500 to ₹4,000 per square foot. The Privana project is located along the Southern Peripheral Road (SPR) in Gurugram, which is being touted as an upcoming micro market within Delhi NCR. DLF's push in Gurugram comes even as it is planning to launch residential projects with an estimated sales potential of ₹73,900 crore in the medium term, according to the company's investor presentation. According to a report by real estate consultancy firm Anarock, SPR is a key micro market within Gurugram's real estate landscape, spanning from the juncture of Gurugram–Faridabad Road near Sector 58 to its convergence with NH-48 in the vicinity of Sector 74A.
Hindustan Times
13 hours ago
- Business
- Hindustan Times
DLF secures RERA approval for Privana North luxury project in Gurugram
DLF has secured RERA approval for its upcoming luxury residential project, Privana North, located in Sectors 76 and 77 of Gurugram. Part of the larger 116-acre DLF Privana township, the project is expected to feature around 1,100 premium housing units, sources told Privana North received RERA approval last week. The project is expected to be launched soon, sources said. In an analyst call held in May 2025, the company had said that 'There is a sizable demand for both offerings, Privana in Gurugram and our upcoming project in Mumbai, not just from local micro-markets but also from across India and among NRIs.' It had said that previous phases of Privana, launched last year, are commanding a premium of ₹2,500 to ₹4,000 per sq ft, reflecting robust market sentiment. "Housing demand for good houses is continuously there, and Gurgaon today has become a very solid investment option too," the company had said. On the timeline of the upcoming launch, the management had said that the launch of the upcoming phase of Privana is expected in the first quarter of 2025-26, and the Mumbai project in the second half of this financial year. Spread over 17 acres, Privana North is expected to feature six 50-storey towers, likely to be the tallest ever developed by DLF. The project is likely to comprise spacious 4BHK apartments with expansive 12-foot decks, they said. In addition to the 4BHK residences, the project is expected to include penthouses with east- and west-facing views, offering panoramic views of the city and the Aravalli hills. The residences are expected to feature floor-to-ceiling heights of approximately 3.4 meters, glass façades, and nature-integrated lobbies, sources said. Located at the junction of the Southern Peripheral Road (SPR), NH-48, Dwarka Expressway (NPR), and Central Peripheral Road (CPR), the Privana project is well connected to major business and lifestyle hubs. It is also surrounded by corporate parks, international schools, five-star hotels, and golf courses. It should be noted that DLF launched Privana South and West in 2024. On January 8, 2024, DLF said it had sold more than 1,000 luxury housing units, part of its latest offering, Privana South, in Gurugram, for ₹7200 crore within three days of pre-launch. Privana South is spread across about 25 acres (about 10 hectares) in Sectors 76 and 77. In May 2024, the company said that it had sold all 795 apartments for ₹5,590 crore within three days of launching its Privana West project, which is spread over 12.57 acres and comprises 795 apartments. The luxury housing market in NCR is on a growth trajectory, with Gurugram leading the trend. According to data from Cushman & Wakefield, around 1,849 housing units priced at ₹10 crore and above were launched in Gurugram during Q1 2024– Q1 2025. Notably, of the 2,768 units launched in sectors 76 and 77, more than 70% were in the high end and luxury segment, highlighting the area's growing prominence in the high-end residential segment. Also Read: Mumbai and Delhi-NCR lead demand for ultra-luxury homes priced at ₹100 crore and above According to a report by JLL, in Delhi NCR, ultra luxury deals were not limited to the Lutyens Bungalow Zone (LBZ) alone. Several high-rise apartment deals on Golf Course Road in Gurugram were also recorded. Of all the apartments sold in the ₹100 crore and above price bracket in the past three years, majority were in the size range of 10,000 - 16,000 sq. ft (super built-up area). Trump Residences, located in Sector 69 and developed by Smartworld Developers and Tribeca Developers, sold out on launch day, recording ₹3,250 crore in allotments. The project's four ultra-premium penthouses, valued at ₹125 crore, were also fully allotted, Smartworld Developers said in a statement on May 13. The Trump Residences will feature two 51-story towers with 298 luxury residences, spanning a total saleable area of 12 lakh sq. ft. Priced between ₹8 crore and ₹15 crore per residence, the development's 298 homes were absorbed on the day of the launch showcasing demand for branded, ultra-luxury living in India, the company had said in a statement.
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Business Standard
01-05-2025
- Business
- Business Standard
DLF to launch third luxury residential project in DLF 6 integrated township
Delhi-based realty major DLF is planning to launch a luxury high-rise project with over 1,000 residential units in its DLF 6 integrated township project, which is currently under development. Industry executives aware of the new launch said that the project is expected to be launched within the next few weeks, and will be positioned across Sectors 76 and 77 in Gurugram. The executive added that the development would focus on mobility, green infrastructure, and resilience, and feature residential and retail developments as well. This comes after the firm had sold out two earlier launched projects — Privana South and Privana West — with 1,113 units and 795 units, respectively, in DLF 6, with a total sales realisation of ₹12,790 crore. Privana South is pegged at ₹6.4 crore per unit for ultra-luxury high-rise apartments ranging between 3,577 sq ft and 5,472 sq ft in size. Privana was launched in 2023. One of the executives said that the new residential project may see prices going up to ₹10 crore per unit. A second market source said that the project is expected to be much bigger in terms of number of units and sales than the earlier two projects in DLF 6. DLF did not comment on queries sent by Business Standard on the potential launch. Aakash Ohri, joint managing director and chief business officer at DLF Home Developers Ltd, had said in an investor conference in March that secondary market sales of some of the Privana homes were up by ₹4,000 per sq ft, giving an indication of the market price change for homes in that price range. 'In about two years, Arbour has an upside of almost about ₹8,000 a square foot, which is trading in second markets, and Privana is upwards of ₹4,000. So, that's the kind of trade-up that people are also doing and getting the margins that they're getting today,' he had said. DLF's Arbour project was launched in January 2023 with a price tag of ₹8.5 crore per unit, with deliveries expected in 2027. Privana South's deliveries are expected by 2028. DLF 6 spans across 116 acres along the Southern Peripheral Road (SPR), which is being touted as an upcoming micro market within Delhi NCR. According to a report by real estate consultancy firm Anarock, SPR is a key micro market within Gurugram's real estate landscape, spanning from the juncture of Gurugram-Faridabad Road near Sector 58 to its convergence with NH-48 in the vicinity of Sector 74A.
