Published & Updated as on - 2010-02-25
In
the strongest endorsement yet of the turnaround in the real estate sector, DLF
Ltd, India’s largest developer, is pricing its housing project in Delhi 60%
higher than its previous launch.
The project, Capital Greens 3, which is expected to be
launched next month, has been tentatively priced at Rs 12,000 per square foot,
according to real estate brokers.
DLF refused to comment.
Phase
I and II of the Capital Greens project, which waslaunched in April and October
last, were sold off in a couple of days as they were priced at Rs 5,500 per sq
ft and Rs 7,500 per sq ft, respectively, much lower than the then-prevailing
price of Rs10,000 sq ft.
DLF had recently indicated in a conference call that demand
for luxury homes is back so it would launch some projects in this year.
Phase
III of Capital Greens has been termed as a luxury project by the developer with
offerings of four-bedroom apartments of 2,600 sq ft in 26-28 storey buildings.
The
higher pricing was helped by recent healthy sales in the luxury home segment,
as DLF sold more than 550 apartments of about 2 million sq ft in the National
Capital Region, while it booked about 1 million sq ft of sales in the
mid-income housing segment in new Gurgaon, Bangalore, Goa and Kochi.
Analysts
said DLF’s margins were negatively impacted earlier because of the slew of
launches in the affordable housing segment last year.
Source: DNA 24/2/10
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