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    Home » DLF’s $4 Billion Project Near Delhi Draws Interest from NRIs and Local Elite

    DLF’s $4 Billion Project Near Delhi Draws Interest from NRIs and Local Elite

    Aditya LenkaBy Aditya LenkaJanuary 28, 2025 World No Comments2 Mins Read
    DLF’s $4 Billion Project

    India’s Rising Demand for Ultra-Luxury Homes

    DLF, India’s largest real estate developer, announced on Monday that its $4 billion project near New Delhi will take over four years to complete. This landmark project has already drawn significant interest, with 173 of the 420 units sold at an average price of $8 million each. Notably, 12% of the buyers are non-resident Indians (NRIs), who are investing in some of India’s priciest real estate.

    The demand reflects the growing wealth of India’s elite, who are also driving sales of high-end cars, luxury watches, and designer interiors. This surge comes as a stark contrast to the economic reality of millions of Indians reliant on government food aid.

    DLF’s $4 Billion Project Details and Early Success

    DLF’s $4 billion project offers apartments priced at $742 per square foot, placing it among the world’s most exclusive properties. While slightly below the $817 per square foot average price of apartments in Dubai’s Burj Khalifa, it underscores India’s emerging ultra-luxury real estate market. Buyers will receive bare-shell apartments, allowing them to design the interiors to their personal tastes.

    The first phase of the project, described by DLF’s Chief Business Officer Aakash Ohri, will include a “lake park” featuring cascading lakes, cinemas, indoor sports facilities, and even on-call chefs. These amenities aim to meet the expectations of NRIs accustomed to luxurious lifestyles abroad.

    Booming Luxury Housing Market in India

    The rising demand for ultra-luxury homes in India is evident, with sales of properties priced above $4.6 million increasing by 17% in 2024, according to Anarock Property Consultants. Early demand for DLF’s new project contributed significantly to its record-breaking sales bookings of $2.2 billion between April and December, exceeding the company’s fiscal-year forecast of $2 billion.

    Ohri remarked that the luxury market is just beginning to flourish in India, with Delhi leading the way and Mumbai emerging as another promising hub for high-end developments. He emphasised that NRIs want homes in India that match the standards of their global residences, further boosting demand for luxury projects like this one.

    With inputs from Reuters

    Author

    • Aditya Lenka
      Aditya Lenka

      A multi-faceted professional with a diverse range of skills and experiences. He currently works as a Producer, Digital Marketer, and Journalist for several well-known media outlets, namely StratNewsGlobal, BharatShakti, and Interstellar. With a passion for storytelling and a keen eye for detail, Aditya has covered a wide range of topics and events across India, bringing a unique perspective to his work.When he's not busy producing content, Aditya enjoys exploring new places and cuisines, having traveled extensively throughout India. He's also an avid writer and poet, often penning his thoughts and musings in his free time. And when he wants to unwind and relax, Aditya spends time with his two loyal companions, Zorro and Pablo, his beloved dogs.Aditya's dynamic personality and varied interests make him a unique individual, always eager to learn and experience new things.

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    Aditya Lenka
    Aditya Lenka

      A multi-faceted professional with a diverse range of skills and experiences. He currently works as a Producer, Digital Marketer, and Journalist for several well-known media outlets, namely StratNewsGlobal, BharatShakti, and Interstellar. With a passion for storytelling and a keen eye for detail, Aditya has covered a wide range of topics and events across India, bringing a unique perspective to his work.When he's not busy producing content, Aditya enjoys exploring new places and cuisines, having traveled extensively throughout India. He's also an avid writer and poet, often penning his thoughts and musings in his free time. And when he wants to unwind and relax, Aditya spends time with his two loyal companions, Zorro and Pablo, his beloved dogs.Aditya's dynamic personality and varied interests make him a unique individual, always eager to learn and experience new things.

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