Buyers want bigger, better homes and are willing to pay for them: Aakash Ohri, Joint managing director, DLF Home Developers
DLF is betting big on increasing super luxury consumption and 90% of the 11.6 million square feet of projects it plans to launch in FY25 — with total revenue potential of Rs 36,000 crore — will be in the super luxury segment. The proposed launches will include apartments priced Rs 60 crore and above in Gurgaon and villas in Goa priced more than Rs 50 crore, Aakash Ohri, joint managing director at DLF Home Developers Ltd, told ET in an interaction. Edited excerpts:
There are some concerns over projects getting sold out within days of launch. DLF has sold out three projects in the last 18 months. Do you think the trend is sustainable in the long term?
We have seen the time when we had Rs 17,000-crore worth of unsold inventory. We have seen the struggle and pain and we don't want to go back to those days… We have to motivate brokers and investors. This is the time when people are believing in the DLF story and I don't have to prove myself to a third party.
My record books are clean and anyone can come and do random checks. If people are now coming to DLF and believing that their aspirations will be met (and) their money is safe. We are not only selling fast, collecting more money faster, we are also making sure that our delivery schedules are on time to customer expectations.
But have you seen cancellation and trading in the projects you launched and sold within days?
Between over 2,200 apartments across two projects, we have received cancellation of just 34 apartments. We collect Rs 50 lakh rupees as deposit money
