HomeBUSINESSDLF launches 34-acre independent floors project in Panchkula

DLF launches 34-acre independent floors project in Panchkula

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BENGALURU: DLF Ltd., India’s largest listed real estate company, Thursday said it has launched a 424-independent floor project on a 34-acre land parcel in Panchkula, Haryana.

‘The Valley Gardens’ project is part of its 175-acre site of its residential development ‘The Valley’.

Each independent floor is of around 3500 sq ft, and is priced at about 3 crore. DLF expects a turnover of 1,200 crore to 1,300 crore from the project.

“Demand for low-rise independent floors has been phenomenal in Delhi-NCR. In the last 18 months, DLF has sold independent floors worth 3,000 crore in Gurugram and the Chandigarh Tri-city area. For the Panchkula project, we expect about 70-75% of the demand from end-users and the remaining from investors,” Aakash Ohri, group executive director and chief business officer at DLF said in an interview.

‘The Valley Gardens’ project in Panchkula, which has a stilt-plus-four floor development format, has been designed by architect Hafeez Contractor.

“…Buyers from Chandigarh, Punjab, Delhi-NCR and even Himachal Pradesh have shown a high level of interest to live in Panchkula,” Ohri added.

DLF is planning a slew of residential launches this year including more independent floors, plots, villas and apartments. The developer did about 2,000 crore of sales bookings in the April-June quarter and has provided a sales guidance of 8,000 crore for 2022-23.

 

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