DLF to invest Rs 3,500 crore in developing residential project in Gurugram

DLF to invest Rs 3,500 crore in developing residential project in Gurugram


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DLF, the country’s largest real estate company in terms of market value, has sold all 1,137 apartments from February 15 to 17 for about Rs 8,000 crore. Each apartment costs seven crores or more.

New Delhi. Realty development company DLF will invest Rs 3,500 crore over the next four years to build a new luxury residential project in Gurugram. DLF will develop a new residential project named ‘The Arbor’. The project will be on about 25 acres and will have five multi-storey buildings with 1,137 apartments. DLF, the country’s largest real estate company in terms of market value, has sold all 1,137 apartments from February 15 to 17 for about Rs 8,000 crore. Each apartment costs seven crores or more. Speaking to PTI, DLF Ltd Chief Executive Officer (CEO) Ashok Tyagi said, “We will develop around 45 lakh sq ft area in this new project.”

On the question of construction cost, he said that as per the promises made in this luxurious project, it will be around Rs 7,000-8,000 per sq ft. Tyagi said that the cost of the entire project went up due to increase in the prices of key construction materials like aggregate cement and steel. “The total construction cost over the next four years will be around Rs 3,500 crore,” said Akash Ohri, Group Executive Director, DLF. The company has sold apartments at Rs 18,000 per sq ft in this project located on Golf Course Extension Marg, Sector 63.

Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.



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