Construction Industry News
DLF Ltd, India's largest real estate company, has rolled out a planned Parc Estate development project on Old Mahabalipuram Road in Chennai.
The 85 hectare project includes 1,500 plots for sale, with plot sizes ranging from 600 sq.m to 4000 sq.m, at a cost range of Rs 20 lakh to Rs 1.25 crore.
Approximately 750 lots are for sale in the first of the three phases of the project. The company has also rolled out planned projects in Chandigarh and Gurugram.
Chennai has undergone a steady development in infrastructure, connectivity and urban amenities and has emerged as a key residential market that buyers can penetrate with confidence. For them, Chennai has emerged as a strategic market in southern India, and it will be the first of many residential launches to take place in the future. Aside from being an auto manufacturing center, the increasing penetration of the IT or ITES industry has led to an influx of a younger population seeking real estate, according to Aakash Ohri, group director and chief business officer, DLF.
Over the past two years, DLF has rolled out projects in a variety of product formats, including second homes, independent floors, apartments and plots, given the demand for larger homes over the course of the Covid-19 pandemic.
The developer will soon have a significant launch pipeline, which includes projects not only in its core market Delhi-National Capital Region, but also in Goa, Kerala and Tamil Nadu.
DLF is in the planning stages for a 230-hectare mixed-use project in Sriperumbudur, which will contain low-rise housing and lots and is also exploring logistics space and a data center at the site. It is also in the process of rolling out one million square feet of high-end housing in Chennai.
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