DLF Launches 'The Westpark' in Mumbai: Premium Homes for Rs 5.5-7.5 Crore

Leading real estate player DLF is set to launch its first residential project in Mumbai on July 17, weeks after receiving approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA). The first phase of 'The Westpark' project is expected to have more than 400 apartments up for sale, as per the registration documents reviewed by Moneycontrol.

The Gurugram-based real estate firm will launch the project at the Oshiwara neighborhood in Mumbai's Andheri suburb. While DLF is largely known for its luxury and ultra-luxury residential projects in Gurugram and other markets, the Westpark is slated to be branded as a 'premium' project, with ticket sizes ranging between Rs 5.5-7.5 crore, market sources have told Moneycontrol.

DLF has partnered with the Trident Group for the project at Oshiwara, which is being executed as a slum rehabilitation project. Trident is expected to take care of the rehabilitation component of the project, including clearing the land and building rehabilitation units for the slum residents, while DLF will take up the free sale component, expected to be around 9 lakh square feet. The land parcel has a total development potential of around 3.5 million square feet.

The first phase of the project is expected to consist of four towers of 44 floors each, 37 of which are habitable. The rest of the floors will be dedicated to amenities and services, according to registration documents.

According to brokerage notes, DLF has already pre-sold part of its inventory in its pre-launch phase by invitation. In a recent report, Kotak Institutional Equities estimated that DLF has pre-sold around Rs 1,000 crore to Rs 1,500 crore worth of inventory to its pre-launch customers at the Oshiwara project.