NEW DELHI: India's DLF sold a US$1 billion upmarket residential project in 72 hours while rival Godrej Properties is offering US$3 million apartments to clients selected by invitation, two off-plan sales that are signalling a revival in luxury housing. Property developers say spacey high-price apartments t
NEW DELHI: India's DLF sold a US$1 billion upmarket residential project in 72 hours while rival Godrej Properties is offering US$3 million apartments to clients selected by invitation, two off-plan sales that are signalling a revival in luxury housing.
DLF's Arbour project in Gurugram near New Delhi attracted more than 3,000 applications for 1,137 apartments priced at US$869,000 each, extremely high prices for the area. Supply of new luxury homes in India has been constrained in recent years, hit by an economic slowdown in 2019 and then the pandemic, which dampened sentiment in 2020 and forced developers to put brakes on new project launches.
Godrej's"Connaught One" project near central Delhi's premier shopping district is offering apartments for US$2 million to US$3.3 million, on par with a good class bungalow in parts of the city.
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