DLF Plans on Launching Mid-Segment Housing
DLF Ltd is firming up plans to launch mid-income projects, in the ₹60-80 lakh price category, as demand for homes in the affordable category remains relatively better in a tepid residential market.
The company is planning to launch budget housing projects in Gurugram and in Chandigarh Tricity as of now. These under-planning projects span across 10 million sq ft with potential revenue of ₹5000 crore. These will include projects with low-rise buildings and can be executed quickly.
Over the past few years, DLF had adopted the strategy to hold back on selling under-construction housing projects and sell only when a project is near completion, as buyers’ preference had visibly moved towards ready-to-move in homes.
DLF’s chairman, Rajiv Singh said the residential segment is witnessing early green shoots of revival across markets with increased interest in the mid-income and affordable segment.
Affordable housing has got several government incentives in recent times, and coupled with better demand for such homes, many developers have been focusing on building budget homes in the metro cities and their extended suburbs.