DLF’s luxury condo sold out in three days

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    DLF’s much-awaited high-rise luxury condominium on Golf Course Extension Road in Gurugram has been sold out in just three days after its launch, indicating towards the robust demand for luxury real estate in India.

    The project, titled Arbour, is DLF’s first high-rise condominium in Gurugram in about a decade. The last project which they completed was Crest and Camellias as the company has been focusing on generating cash by executing low-rise independent floors in DLF City, New Gurgaon and Panchkula.

    In this project, the company plans to offer 1,100 luxury flats and as per industry estimates, DLF has already seen interest for over four times the number of flats already.

    The starting price of the 4BHK apartments is around Rs 7-8 crore. The apartments were being offered at a base price of ₹18,000 per square feet and the size of each is 3,900 square feet. Buyers have a choice of three parking bays per apartment with electric vehicle charging facility.

    While industry sources confirm that close to 500 flats in this ultra-luxury projects are sold out, it is also being said that investors are already queuing up for the second lots of inventory that will be released in some time.

    Limited supply of projects in Gurugram is cited as one of the major reason for the overwhelming response. Expected cap of 10 crore on the capital gains exemption limit that kicks in on April 1 is also said to be one of the reasons for this rush.

    Another reason behind such an overwhelming response that everyone was expecting DLF to launch at ₹20, 000 per square feet but it was launched at a lesser price. Buzz in the market is that rates will be revised to ₹21,000 per square feet very soon, resulting in a flurry of bookings.

    A post going viral on Twitter claims that the company has sold 1,137 flats within three days.

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