Why are the super rich snapping up luxury apartments?
DLF has reported Rs 7,200 crore sale from its latest luxury residential development, DLF Privana South in Gurugram, with the project getting sold out within 72 hours of the launch. This exclusive enclave will comprise 1,113 luxury residences across 7 towers, presenting 4 BHK apartments and penthouses.
DLF Privana South will be part of a larger development, DLF Privana, spread over approximately 116 acres in Sectors 76 and 77.
The sale was a repeat of what had happened nearly a year ago when an image went viral on micro-blogging site X, (previously Twitter) showing a massive crowd in front of the DLF office in Gurgaon to buy the Rs 7.2 crore luxury flats. Close to five hundred flats at Arbour, DLF's first high-rise condominium after nearly a decade, on Golf Course Extension Road, were reportedly sold out within three days of launch.
It's not just Delhi-NCR.
Luxury properties inall big cities are on fire. Mumbai, the country’s largest and most expensive real estate market, has been setting new benchmarks with property transactions.
Several large-ticket record-setting transactions involving industrialists, CXOs, actors, and sports personalities have been taking place in the country's commercial capital since the last few quarters.
As per an Anarock research report last year, approximately 18 per cent (approx. 65,680 units) of the total 365,000 units sold in the top seven cities in 2022 fall into the luxury category.
