DLF eyes Rs 700 crore from 400 plots in Gurgaon

The country's largest realty firm DLF will launch 400 plots in Gurgaon on Thursday and is expecting sales realisation of about Rs 700 crore (Rs 7 billion) from this project over the next two years.

While announcing its annual result last month, DLF had said that the company would focus more on plotted development in this fiscal as it generates faster cash-flow compared to group housing. Last month, the company had launched 1,300 plots at Indore.

According to sources, the company will launch 400 plots in Gurgaon at a basic selling price of Rs 40,000 per sq yard. The size of the plots would vary from 300 sq yard to 500

sq yard.

These plots will be part of the 101-acre township 'DLF Garden City' where a large group housing project is being developed.

The sales realisation is estimated at about Rs 700 crore, sources said, adding the plots will be handed over to the buyers in two years and by then, the group housing would be complete.

Last month, DLF had said it would launch 12 million sq ft of area this fiscal, of which 10 million sq ft will be plotted development, while the rest will be group housing projects.

"Product mix skewed towards plotted development in order to reduce execution risks and negate inflationary pressures," DLF had said in a presentation.