Realty firm DLF today said it plans to roll out new residential projects at Ludhiana, Jalandhar, Panipat and Kasauli as part of company’s strategy to strengthen its presence outside Gurgaon.
“We have plans to launch new projects at Ludhiana, Jalandhar (in Punjab), Panipat (in Haryana) and Kasauli (in Himachal Pradesh),” company’s Director (North) Rakesh Kerwell told reporters here today.
Though the company has not finalised the business plans entailing the investment detail in these projects, the company is in the process of carrying out study to ascertain demand for real estate projects in these markets, he said.
“We have not yet finalised our business plans…but we will be conducting market survey to see the demand for deciding about the product like group housing or flats to be launched,” he said.
DLF, which has already invested Rs 2,000 crore in northern region on various real estate projects, has 25 acres of land in Ludhiana, 50 acres in Jalandhar, 12 acres in Panipat and 325 bighas at Kasauli.
“We will be consolidating our land (bank) in these areas to roll out new projects,” he said.
The company today also announced to launch premium independent floor project ‘Hyde Park Terraces’ at its existing ’New Chandigarh’ project at Mullanpur in Punjab.
Dubbed as anchor project after Gurgaon, the project is part of 200 acres of integrated township project at Mullanpur and it will have 200 independent floors with a size ranging from 1,181 sq ft to 1,888 sq ft on a 350 square yard of plots.
The company has kept the price range of these built up areas with 3 bedrooms and servant quarter at Rs 72 lakh to Rs 80 lakh.
“The possession of these floors will be given within 27 months from the launch,” he said.
Acknowledging that market sentiments at present were still not encouraging, he said that DLF was confident of getting good response for its new project.
DLF has already received tremendous response for its earlier project ‘Hyde Park Estate’ in which it sold 850 plots of different sizes out of 875 plots.
“Initially, we started this project with 120 acres of land and we increased the size to 200 acres of land. Our vision is to take the project size to 1,000-1,200 acres of land at Mullanpur,” said another DLF official.