Realty major DLF has sold properties worth Rs 200 crore in its luxury housing project at Gurugram despite a slowdown in the residential segment.
The company is developing about 750 apartments in the nearly 9-acre luxury housing project ‘The Crest’, launched in 2013 and expected to be completed this year.
According to sources, DLF achieved sales bookings of Rs 200 crore in the project for the quarter ending March.
The total sales bookings in the project amounted to Rs 365 crore during the entire 2016-17 fiscal, which means that the January- March quarter accounted for 55 per cent of the full-year sales.
The company spokesperson declined to comment.
The real estate sector, particularly the housing segment, is facing a multi-year slowdown and the demand declined further post the demonetization decision by the government last November.
The luxury housing segment was affected the most as those transactions involved a larger proportion of a cash component.
However, the residential market, particularly the affordable housing segment, has started to recover gradually from January this year, despite luxury housing still being sluggish.
Source : PTI