Cities See Boom In Sales Of Luxurious Housing

Jan. 15, 2010 - PRLog -- The country’s largest real estate developer, DLF, sold apartments worth Rs 1,000 crore in December. This is the highest monthly sale the company has recorded in its history. There are many developers like DLF who have seen a surge in the sale of apartments across the country in the quarter ended December, especially in the luxury and semi-luxury category.A large chunk of DLF’s sales are also from the luxury and semi-luxury segments. It sold 76 apartments of Rs 5 crore each in The Magnolias, Gurgaon, netting nearly Rs 400 crore. The project has apartments of 5,825 sq ft each and duplexes and penthouses of 9,000 to 10,000 sq ft each.It made another Rs 200-300 crore each in its relaunched projects, DLF Belaire and Park Place, in Gurgaon. Belaire had a price of Rs 2-3 crore each and Park Place of Rs 1.25-1.5 crore.
Indiabulls Real Estate has sold 100 apartments in its 65-storey ‘Indiabulls Sky’ in the Lower Parel area of Mumbai in the past four months. It has also recently launched Indiabulls Sky Suites with full-age advertisements, promising ‘A head in the clouds experience’’. While, apartments in Sky were priced at Rs 6.75-22.5 crore, depending on the size, Sky Suites are expected to be higher.Indiabulls is also working on a super-luxury, ‘By invitation only’, Indiabulls Sky Forest, where homes are more than 10,000 sq ft each and priced 10-20 per cent higher than Sky projects.Buoyed by response for its premium housing projects, Orbit Corporation, another Mumbai-based developer, says it will launch one luxury project in the city every quarter. Orbit has sold off its first lot of 18 flats in Orbit Terraces — a premium housing project in the Lower Parel area where apartments ranged from Rs 3.3 crore to Rs 6.6 crore — within 17 days of its launch in September. It sold another dozen flats in the same building later.Orbit earlier sold its Orbit Arya project in South Mumbai, where apartments were priced at Rs 10-15 crore, within a month...http://www.maaproperties.com/Pages/ModuleContent.aspx?Mod...

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