DLF Reports Strong Sales at The Dahlias: A Premier Luxury Project in Gurgaon
Delhi-based real estate giant DLF has achieved significant milestones with its super-luxury project 'The Dahlias' in Gurgaon, selling 173 of 420 units at prices starting from ₹80 crore each. The project has seen a diverse mix of buyers, including Indian c
DlfThe DahliasGurgaonLuxury Real EstateNrisReal Estate NewsJan 27, 2025
The company has successfully sold 173 out of 420 units, with each unit priced at approximately ₹80 crore.
The project has seen an overwhelming response, with buyers including heads of Indian companies, entrepreneurs, and NRIs, who account for 12% of the sales.
This success has helped DLF achieve its FY25 sales guidance of ₹17,000 crore ahead of schedule.
DLF is optimistic about the future, with plans to complete the construction of The Dahlias within four years.
The company also sees significant potential in the Mumbai market, anticipating sales of ₹1,000-2,000 crore in the fourth quarter of the fiscal year.
Additionally, DLF is awaiting necessary approvals for its Goa project and is confident about its future launch.
Insights into the Buyers
When asked about the buyers of The Dahlias, Aakash Ohri, the Joint Managing Director and Chief Business Officer of DLF, highlighted a diverse and eclectic mix.
'Our buyers include Indian company heads, entrepreneurs, and NRIs.
Many of these buyers have had a phenomenal experience with our previous developments, particularly The Camellias, which has contributed significantly to the success of this project through word of mouth.')
Pricing and Market Comparison
The pricing at The Dahlias, which translates to around ₹1 lakh per square foot for the carpet area, is justifiable when compared to international markets like Dubai, London, or New York.
'In terms of product offering, The Dahlias stands among the best luxury projects globally.
Speaking as a proud Indian, it's remarkable that an Indian project is being compared to the world's finest luxury developments,' Ohri explained.
NRI Participation
NRIs have shown significant interest in The Dahlias, making up 12% of the buyers.
Factors driving this interest include strong regulations, government support, and the emotional connection NRIs have with India.
'Over the last decade, we saw NRI investments shifting to other parts of the world, but I’m pleased to say that trend is reversing.
More NRIs are now investing back in the country, which benefits our economy and boosts foreign exchange reserves,' Ohri noted.
Future Plans and Sustainability
DLF is set to launch its project in Mumbai in Q4 of FY25 or Q1 of FY26, with an expected initial revenue of ₹2,000 crore.
The company is also working on obtaining the necessary approvals for its Goa project, which is expected to launch in the later half of 2025.
Regarding the sustainability of the ₹2 lakh per square foot price point, Ohri believes it is viable due to Gurgaon's infrastructure development and the city's appeal.
'Gurgaon is looking at a 20-year infra plan.
It's got one of the most amazing sets of residents who are extremely involved.
It's an inclusive story.
As the city develops, it is keeping a lot of those environmental norms in place.
The administrators are planning for the urban infrastructure and working with the private developers.'
Tax Settlement
DLF recently settled its past tax liabilities under the 'Vivad se Vishwas' scheme.
'These pertain to previous tax liabilities and discussions that were ongoing for some time.
When the government and authorities introduced the Vivad se Vishwas scheme, it provided us with a better way to resolve these matters rather than pursuing prolonged litigation.
As a company, we decided to take this step and clear those liabilities, which we believe was the right approach,' Ohri concluded.
Frequently Asked Questions
What is the price of a unit at The Dahlias?
Each unit at The Dahlias is priced at approximately ₹80 crore.
Who are the main buyers of The Dahlias?
The buyers include heads of Indian companies, entrepreneurs, and NRIs.
What is the pricing per square foot at The Dahlias?
The pricing for the carpet area at The Dahlias is around ₹1 lakh per square foot.
What is the expected sales potential for DLF's project in Mumbai?
DLF anticipates sales of ₹1,000-2,000 crore in the fourth quarter of FY25 for its project in Mumbai.
Why are NRIs interested in investing in The Dahlias?
NRIs are interested due to strong regulations, government support, and the emotional connection they have with India.
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