DLF pricing its New Delhi project 60% higher

In the strongest endorsement yet of the turnaround in the real estate sector, DLF Ltd, India’s largest developer, is pricing its housing project in Delhi 60% higher than its previous launch.The project, Capital Greens 3, which is expected to be launched next month, has been tentatively priced at Rs 12,000 per square foot.

Phase I and II of the Capital Greens project, which waslaunched in April and October last, were sold off in a couple of days as they were priced at Rs 5,500 per sq ft and Rs 7,500 per sq ft, respectively, much lower than the then-prevailing price of Rs 10,000 sq ft.

Phase III of Capital Greens has been termed as a luxury project by the developer with offerings of four-bedroom apartments of 2,600 sq ft in 26-28 storey buildings. The higher pricing was helped by recent healthy sales in the luxury home segment, as DLF sold more than 550 apartments of about 2 million sq ft in the National Capital Region, while it booked about 1 million sq ft of sales in the mid-income housing segment in new Gurgaon, Bangalore, Goa and Kochi.