DLF sells cheaper offices in Delhi

The country’s largest developer DLF has put its office space in Delhi for sale at discounted price to investors, at Jasola and Saket.

The country’s largest developer DLF has put its office space in Delhi for sale at discounted price to investors, at Jasola and Saket.

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“We have brought down sale prices at Jasola from Rs 18,000 per square feet (psf) to around Rs 14,000-15,000 psf,” said the company’s chief marketing manager Rajneesh Sharma. This is a fall of 15-20 per cent.

Without giving any figures, he also said that prices have shown corrections at Saket. Office spaces at Saket are selling at Rs 40,000 psf, he said.

However, investors and brokers operating at these places said that the prices have corrected by 30 per cent at both places. “The rates went up to Rs 22,000 at Jasola and Rs 42,000 at Saket,” said a broker.

The fall in prices is being attributed to the higher vacancy level. “The vacancy levels at both places are around 40 per cent”, Sharma said.

Brokers, on the other hand, said that the vacancy level is roughly around 50-60 per cent.