DLF Ltd., India’s largest actual property firm by way of market cap, on Thursday introduced its entry into Mumbai with the revealing of a residential actual property undertaking within the premium phase in Andheri west, a Mumbai suburb.
Called The Westpark, the undertaking spanning 5.18 acres is an element of a bigger 10-acre grasp plan and can come by means of a three way partnership with a neighborhood associate. DLF holds 51% curiosity within the growth. In this undertaking, residences are being supplied at a median value of ₹42,500 per sq. ft.
“We are getting the DLF legacy of lifestyle and amenities into Mumbai. We will keep sustainability at the core,” mentioned Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd.
“We are taking Mumbai very seriously. We want to take the project off the ground first before starting any new project. Mumbai and Delhi will be two of our most important markets,” he mentioned.
In 2008, DLF had acquired NTC land in Mumbai by means of an public sale course of however didn’t assemble any undertaking. Later it offered the land to Lodha Group at a premium. Now, in its Mumbai foray, DLF is focusing on businessmen, professionals and folks working within the movie trade. Over one yr, the corporate is anticipating to have gross sales price ₹5,000 crore.
In the primary section, the corporate presents 4 towers, every rising 37 storeys providing a complete of 416 residences. The undertaking is arising on a land parcel that when housed slum dwellers. The undertaking, to be accomplished in 4 years, will provide a mixture of 3 and 4 BHK residences starting from 1,125 to 2,500 sq. ft., alongside with a restricted variety of unique penthouses. Mr. Ohri mentioned the undertaking can be identified for its landscaped gardens and numerous facilities it might provide. “We will make a difference in this locality and other developers will have to match our standards,” he mentioned.
