DLF, plans to launch one of the costliest residential projects in the National
Capital this week offering 38 luxury housing units at a price range of Rs 15-25
crore.
The company will launch on Tuesday a super
luxury residential project 'King's Court', which is spread over 2.3 acres of
land at Greater Kailash-II in South Delhi, with a project cost of about Rs 700
crore, sources said.
DLF, which had developed 3,000 acre DLF City in Gurgaon and many colonies in
Delhi in 1960s, would offer 27 flats, with sizes ranging between 5,000 sq ft
and 7,200 sq ft, and 11 villas each of 7,000 sq ft.
When contacted, DLF Group Executive Director
Rajeev Talwar confirmed that the company is developing a premium project in
GK-II but declined to share futher details.
"The apartments will be very premium in
nature that never has happened in Delhi. The construction has already begun and
possession will be given within three years," Talwar said.
Although DLF is yet to fix the basic selling
price of the housing units, sources said these will be available for about Rs
15 crore to Rs 25 crore.
The company is likely to sell these flats and
villas at Rs 35,000-40,000 per sq ft, sources said, adding that the project cost
is estimated at Rs 700 crore, including the land cost.
Last year, DLF had launched another luxury
residential property 'Capital Greens' where flats were sold for about Rs 4
crore per unit at Shivaji Marg, close to Moti Nagar (near Central Delhi). The
flats were offered at Rs 11,000 per sq ft.
Rival Parsvnath has two residential projects
in the National Capital -- one at Subhash Nagar (West Delhi) priced at Rs 7,500
per sq ft and the other at Civil Lines (North Delhi) tagged at Rs 10,000 a sq
ft.
Another developer Emaar MGF offered
apartments at Rs 12,700/sq ft in its Commonwealth Games project.
At present, DLF has 302 million sq ft of
development potential, out of which 40 million sq ft is under construction.
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