DLF sells 1,200 housing units worth Rs 500 cr at Panchkula

NEW DELHI: Realty giant DLF has sold out 1,200 independent floors worth Rs 500 crore in the first phase of its integrated township at Panchkula (Haryana) within just a week of launching the project.

DLF has sold more than 1,200 independent floors, covering 2 million sq ft of built up area since the launch of the project on February 18 in 'DLF Panchkula Valley', which the company said would be its "biggest township project outside Gurgaon."

Housing demand, particularly in affordable segment, is showing signs of improvement since April last year. DLF had received good response for the first two phase of its housing project in the national capital that was launched last year.

"As against the 500 apartments of various sizes with independent floors announced under the first phase of the project, more than 1,200 bookings have already been received within a week of the launch," DLF said in a statement.

These 1,200 floors have a sales value of about Rs 500 crore, a company official said, adding that these independent floors were launched in a price range of Rs 30-60 lakh depending on size of the units.

DLF will develop 10 million sq ft of area in the township in various phases at an investment of Rs 2,200 crore.

"The prices are very attractive specially coming from DLF which is well known for high quality development and excellent landscaping and institutional facilities provided along with the township," DLF Home Developers Executive Director (North) Rahul Mehta said.

DLF has obtained necessary approvals from the government to develop these floors within the next two years of bookings.

The largest chunks of buyers are defence officers who are finding it strategically located near Chandimandir cantonment, Mehta said.

DLF, which has presence in 30 cities with 432 million sq ft of developable area in hand, said that launch of this project is in line with the company's major expansion plans in Punjab, Haryana and Himachal Pradesh.

In the next phase, DLF plans to launch group housing projects in the township, the official said.