Soaring take-off for DLFs Delhi project
The project is priced at least 24 per cent lower than the market price. DLF Ltd, the countrys largest developer, sold more than 85 per cent of its West Delhi housing project in less than 24 hours of its launch, a company official said. The project was priced at least 24 per cent lower than the prevailing market price.
The New Delhi-based developer sold as many as 1,200 of the 1,400 units on offer at its Shivaji Marg (better known as Najafgarh Road) project, a company official said, declining to be identified. The project, close to the busy Moti Nagar crossing, was launched on Tuesday. City brokers, however, said DLF was able to sell only 500 units. The DLF spokesperson declined to comment on both project and sales.
DLF, which had earlier dropped prices at least three other projects, announced an inaugural price of Rs 5,000-6,000 per sq ft, with an additional discount of Rs 500 per sq ft for timely payment of future instalments. The project is being developed on a 38-acre parcel of land, for which DLF had paid Rs 1,675 crore in a 2007 auction, making it the biggest land deal of that time.
More : business-standard.com