DLF’s Privana South Attracts Global Attention with ₹7,200 Crore Sales in 72 Hours
In a testament to the burgeoning real estate sector in India, the recently launched luxury housing project, DLF Privana South in Gurgaon Real Estate, has achieved remarkable success, generating sales exceeding ₹7,200 crores within a span of 72 hours. The swift subscription underscores the positive trajectory of the real estate market, fueled by rising disposable incomes and an escalating demand for upscale residences.
Overwhelming Response and Subscription
Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd, expressed profound satisfaction with the overwhelming response. The project’s subscription rate of 4.5 times is reminiscent of blockbuster events such as Hollywood releases Oppenheimer and Barbie, as well as the fervor witnessed during the launch of a new Apple phone.
Global Interest and Inclusivity
The pre-launch sales of DLF Privana South have garnered attention not only nationally but globally, marking a significant inclusion of buyers from Africa, particularly Tanzania and Kenya, for the first time. The project has successfully attracted a diverse clientele from across India and various parts of the world.
Prices and Responsible Pricing
The pricing strategy for the DLF New Launch units aligns with the precedent set by the Arbour launch last year. Aakash Ohri emphasized the commitment to responsible pricing, maintaining consistency with the prices from the previous year’s Arbour launch. The average ticket size for this project is ₹7 crores, with the DLF Privana unit prices ranging from ₹6.25 crore to ₹7.15 crore.
End-User Focus and Buyer Profile
The end-user-to-investor ratio at DLF New Launch stands at 80:20, reflecting a predominant focus on end-user satisfaction. The buyer profile is diverse, encompassing corporate executives, legal professionals, medical practitioners, and non-resident Indians (NRIs) from various corners of the globe.
Global Appeal and Apple-Like Fervor
Comparing the response to the launch with the anticipation seen during the introduction of a new Apple phone, Aakash Ohri highlighted the loyalty of DLF New Launch customers to the brand’s ecosystem. The project has attracted interest from across the United States, Africa (primarily Tanzania and Nigeria initially), the United Kingdom, Southeast Asia, and the Middle East.
Project Details and Construction Timeline
DLF Privana South enclave will feature 1,113 luxury residences distributed across seven towers, comprising 4 BHK apartments and penthouses. Designed by architectural firm ARCOP, these fully fitted-out units span 3,500 sq.ft. each in Gurgaon Real Estate. Construction is slated to commence in the next fiscal year, adhering to the guidelines set by the Gurgaon Real Estate (Regulation and Development) Act (RERA).
Sales Guidance and Future Launches
While sources indicate that DLF Privana has potentially surpassed its 2023-24 sales guidance of ₹13,000 crores in the first three quarters with the pre-launch of Privana South, official comments on this matter are awaited. The company has additional launches planned for the current quarter in Gurgaon, focusing on the luxury segment of DLF New Launch.
DLF’s Privana South has not only exceeded expectations in terms of sales but has also become a symbol of the thriving real estate market in India. The global interest, responsible pricing, and commitment to end-user satisfaction position this project as a significant player in DLF Gurgaon Real Estate.