Real estate major DLF is exploring luxury. Ultra-luxury residential projects in Mumbai, as well as land options. Calling the country’s financial capital a ‘serious business’ for the company, DLF Home Developers managing director Akash Ohri said further announcements would be made as its plans take shape.
Speaking on the sidelines of the HT Real Estate Summit in Delhi, Akash Ohri said the second phase of the company’s Mumbai project is expected to be launched by the end of the second quarter or the third quarter of the current financial year.
“The second phase of Mumbai will be either late quarter two or quarter three, but as you all know, the first phase was a resounding success, and the second phase, I would say, will have a more developed product than the first phase. The resulting feedback is that it has definitely added a lot of value to the area,” he told HT Real Estate.
“And yes, we are looking at luxury and ultra luxury and land options in Mumbai. Mumbai is a serious business for us, and whenever we have it, we should make these announcements as well,” he said.
pipeline in gurugram
On the company’s future ultra-luxury pipeline in Gurugram, Ohri said its immediate focus is on The Dahlias, describing it as an approximately $4 billion project that requires significant execution time.
“Dahlias in itself is a very big project, it’s almost a $4 billion project right now, so all our focus is there. And projects like this take time. In terms of concept, development, implementation time, time to market, these are not overnight projects, so they take time,” he told HT Real Estate on the sidelines of the HT Real Estate Summit.
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He said once the ecosystem around DLF Golf Links is fully developed, including the completion of the ‘necklace’ of projects in the area, the company plans to launch at least some additional developments there.
“Once that is done, that whole debacle is completed, and that ecosystem that we are building there at DLF Golf Links, you will see at least a few more projects there,” he said.
On senior living project in Gurugram
On its much-awaited entry in the senior living segment in Gurugram, Ohri said the project is on track for launch in the second quarter. While he did not disclose the price citing compliance norms, he said the development has generated a lot of excitement.
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He said the company’s first senior living project will move beyond housing by creating a comprehensive ecosystem with supporting infrastructure designed specifically for senior citizens.
“Senior Living, as you know, we have fully disclosed our guidance. Senior Living is scheduled for quarter two,” he said.
The company said, “We should be in the market soon. There is a lot of excitement about the product. What we want to do for senior citizens’ living is to create good infrastructure around it to make it meaningful for senior citizens.”
“This is a project in DLF too, it is the first time and we are all excited about it,” he said.
