DLF sells 400 plots worth Rs 700 cr

These plots will be part of the 101-acre township where a large group housing project is being developed.

“We launched 400 plots in Gurgaon. We have received more than 400 applications for booking the plots,” a company spokesperson said.

The sales realisation is estimated at about Rs 700 crore over the next two years,sources had said yesterday.

While announcing its annual result last month,DLF had said that the company would focus more on plotted development this fiscal as it generates faster cash-flow compared to group housing. After that,DLF launched 1,300 plots at Indore.

The plots will be handed over to the buyers in two years and by then,the group housing would be complete.

Last month,DLF had said it would launch 12 million sq ft of area this fiscal,of which 10 million sq ft will be plotted development,while the rest will be group housing projects.

“Product mix skewed towards plotted development in order to reduce execution risks and negate inflationary pressures,” DLF had said in a presentation.