DLF has sold three-fourths of its upscale flats in central Delhi at Rs 4 crore apiece within two days of launch in a sign that demand for such properties is alive irrespective of the latest craze, affordable housing. DLF had launched the third and final phase of 150 flats - each measuring 3,000 sq ft or more - of Capital Greens near Moti Nagar last month . A DLF spokesman confirmed the sale. “The company has received an overwhelming response,”
Besides DLF, developers such as Ansal API, Orbit and Uppal are developing high-end apartments across India. Delhi-based Ansal is looking to launch upscale properties in Lucknow later this year. “The prices will be in the range of Rs 5-10 crore for villas of 4,000- 5,000 sq ft,” said a spokesman.
Orbit Corporation’s boutique homes in Mumbai will be sold for nearly 50,000 a sq ft while the Uppals are developing boutique luxury housing projects in the capital in areas such as Vasant Kunj and Shanti Niketan where the rates would be around Rs 40,000 a sq ft. The Capital Greens project’s total sale value has shot up to around Rs 3,600 crore. In the first phase, DLF sold 1,450 flats for Rs 1,300 crore; in the second, it sold 1,250 flats for Rs 1,700 crore and in the last, 300 flats were sold for Rs 600 crore. The company bought the 38-acre plot in 2007 for Rs 1,650 crore.
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