Real estate major DLF said on December 20 that it has sold commercial units in its newly launched shops-cum-offices (SCO) project in Gurgaon and independent floors project in Panchkula for more than ₹1400 crore on the back of increased demand from property investors.
“We have launched and completely sold out 75 shop-cum-office (SCO) plots in our new project 'Central 67' Gurugram for more than ₹700 crore," DLF Home Developers Joint Managing Director and Chief Business Officer Aakash Ohri told reporters here.
The Gurgaon project includes 75 SCO plots. The total land size of this project is close to 9 acres. The plot sizes vary from 140 sq yards to 480 sq yards and are priced between ₹7.25 crore going up to ₹28 crore, he said.
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These commercial plots are located in Sector 67, Sohna Road, Gurugram. These are located in the commercial belt as designated under the Master Plan Gurgaon 2031.
“SCOs are tradeable commercial assets and their value is akin to gold. We have received a positive response from NRIs as well as customers invested in our earlier projects. As many as 40 percent buyers for this project are repeat customers. Investment for this project varies from ₹7.25 crore to ₹28 crore depending on the size,” said Ohri.
{{/usCountry}}“SCOs are tradeable commercial assets and their value is akin to gold. We have received a positive response from NRIs as well as customers invested in our earlier projects. As many as 40 percent buyers for this project are repeat customers. Investment for this project varies from ₹7.25 crore to ₹28 crore depending on the size,” said Ohri.
{{/usCountry}}The target segment includes car showrooms, dental and eye clinics, electronic showrooms and wellness clinics, he told HT Digital, adding while the floors would be constructed by the buyers, the facades and designs would be controlled.
The company is planning to launch one more SCO project in this financial year, he told HT Digital.
These have been designed by renowned architect Hafeez Contractor. These can be used for both retail and office purposes (basement + ground + 4 floors) and offer versatile development potential with a building height reaching up to 15 meters.
DLF launches 512 independent floors in Panchkula
The company has launched another project 'Valley Orchard' in Panchkula where it is developing 512 independent floors. "Out of 512 units, we have launched 400 units. All of them have been sold for ₹700 crore," he said.
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The Valley Orchard comprises 512 residential units and green recreational areas. It is adjacent to the existing 160-acre site of The Valley, a residential development in Tricity that is home to over 1,800 families. and the under construction The Valley Gardens, launched last year, spread over 34 acres. The Valley Orchard offers two options - 3 BHK + Study and 3 BHK residences each comprising a basement, a stilt, and 4 independent floors.
Increased demand from NRIs
Ohri said that there has been an increase in demand from Non-Resident Indians for both these properties. “As many as 20 percent of buyers are NRIs. These are from the US, UK, Singapore, Canada, Australia, Middle East, South East Asia and Hong Kong,” he said.
Asked about the DLF's overall sales bookings in this fiscal, Ohri said the company has given a target of ₹13,000 crore and exuded confidence in achieving it.