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DLF is building homes of your dreams

DLF is looking at Goa to launch its fresh projects and offer residents and investors plush abodes in the lap of nature

Many NRIs in the Gulf invest in plotted developments, mainly buying land for building bungalows later. Many also buy plots as an investment and trade it when the price appreciates.

DLF Universal Ltd recently launched a township project, comprising plotted developments and townhouses in Indore, which it hopes will be of interest to Gulf-based NRIs. "It's a very interesting product," says Ananta Singh Raghuvanshi, Executive Director - Sales and Marketing, DLF Universal. "Developed plots are available for prices ranging from Rs1.7 million to Rs2.5 million. It should have a lot of takers in Dubai."
The company is also offering five-bedroom villas for Rs5.2 million. "We have already sold about 100 such villas," adds Raghuvanshi. "And for the first time we have announced a subvention scheme for plotted developments for affordable housing. Builders usually offer subvention for luxury products."
Introduced along with Housing Development Finance Corporation (HDFC), the buyer pays just 20 per cent of the cost initially, and the balance can be paid in EMI (equated monthly instalments) after two years.
Indore is the commercial hub of Madhya Pradesh. DLF's Gardencity has lush green surroundings and is spread over 200 acres. The township features nearly a score of landscaped gardens, a club with a swimming pool, tennis and basketball court, etc. A GD Goenka School has an expansive operational campus within the township.
According to Raghuvanshi, the cost of construction in small cities such as Indore is also lower. "Two years from now the sentiment will be quite different, so it makes sense to invest in a place back home in India," she adds.
DLF Universal offers a wide range of properties across India - from Rs1.7 million plots in Indore, Rs4 million studio apartments in Lucknow, to luxury apartments ranging between Rs120 million and Rs400 million in Delhi.
"We have sold every apartment, except a penthouse, in our project, Queen's Court at Greater Kailash II in Delhi," says Raghuvanshi. "Encouraged by the response to Queen's Court, we have now launched super luxury apartments at King's Court, also in GK-II. The price ranges from Rs120 million to Rs400 million."
Raghuvanshi says it has been a satisfying year for the company as it has started handing over possessions across India. In Delhi, it handed over possession of about 620,000 square feet of commercial space in Okhla. It has also offered plotted developments for possession in new Chandigarh, and properties in cities including Kolkata, Bengaluru and Chennai.
It has started handing over possession in Kochi and Gurgaon as well. "Probably early next year we will look at new launches, after completing the whole cycle of delivering on our commitments," says Raghuvanshi.
Delhi and the National Capital Region (NCR) continue to remain an important focus area for DLF, she adds. While the company has in recent years focused on the north, east and south, its customers have been asking for projects in the west. "It's been a long time since we did anything in the west. We have good land parcels in Goa so we might launch something there," she adds.
Referring to the NRI market, Raghuvanshi notes that Singapore-based Indians are keen on the GK-II high-end properties. NRIs from the Gulf are showing keen interest in its Lucknow and Indore projects. "They are comfortable with plotted developments," she says.
DLF has also launched different formats in the commercial segment, including micro shops and shop-cum-office (SCOs). In Lucknow and Chandigarh, for instance, the SCOs have done quite well. The plot owner can have a shop on the ground floor and an office on the first floor.