LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Housing project in central Delhi: DLF-GIC to invest Rs 1,250 crore

As per the new business model adopted by the company, DLF will open sale of flats in this project after it gets occupancy certificate from the government authorities.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Housing project in central Delhi: DLF-GIC to invest Rs 1,250 crore
Company expects to sell apartments in this project for over Rs 20,000 per sq ft, Representational image, Source:PTI
Written By: PTI
Updated: Sun, Aug 19, 2018
03:55 pm
New Delhi, PTI
RELATED NEWS
Hero Realty forays into NCR; to invest Rs 900 cr in housing project on Dwarka Expressway Hero Realty forays into NCR; to invest Rs 900 cr in housing project on Dwarka Expressway
Your dream home made easy now? Builders get big boost Your dream home made easy now? Builders get big boost
Rs 4.64 lakh crore worth housing projects stuck across India, Maharashtra, NCR affected most Rs 4.64 lakh crore worth housing projects stuck across India, Maharashtra, NCR affected most
Emaar India to complete, deliver 10K units by 2019-end at Rs 1,000 cr cost, says new CEO Emaar India to complete, deliver 10K units by 2019-end at Rs 1,000 cr cost, says new CEO
Government mulls mechanism to complete stuck housing projects; banks willing to invest Government mulls mechanism to complete stuck housing projects; banks willing to invest

Realty major DLF and Singapore's sovereign wealth fund GIC will invest about Rs 1,250 crore over the next four years to construct a housing project in the national capital.

In September 2015, the GIC had invested Rs 2,000 crore to buy 50 per cent stake in DLF's two upcoming housing projects at Moti Nagar in central Delhi.

DLF had entered into a joint venture with GIC for these two projects, which will be called 'Midtown', having total development potential of about 7 million sq ft.

The JV has started construction of the first phase of this project that involves 2.5 million sq ft of built-up area.

The investment on construction is estimated to be Rs 1,250 core for the first phase, sources said.

A DLF spokesperson declined to comment on the matter.

As per the new business model adopted by the company, DLF will open sale of flats in this project after it gets occupancy certificate from the government authorities.

The company expects to sell apartments in this project for over Rs 20,000 per sq ft.

This project is part of the DLF's overall development of 38 acre land parcel at Moti Nagar, Delhi that it bought in 2007 from DCM Shriram and Lohia Group for Rs 1,675 crore.

The company, on its own, has developed and sold about 2,850 flats in three phases of 'Capital Greens' project. About 1,500 units for economically weaker section and a commercial building has also been developed on this site.

Watch Zee Business Video here:

DLF had first launched this project in 2010 at a price of Rs 4,500 per sq ft and the current price in the secondary market for completed units is about Rs 17,000 per sq ft.

For further development on this prime land parcel, DLF had formed JVs with GIC.

In the national capital, there are only few housing projects from private developers.

DLF currently has completed inventories of Rs 13,500 crore, largely in Gurugram, which it expects to sell over the next 5-6 years.

Meanwhile, it will continue to build projects to create stock of completed units. After this JV for housing projects, DLF has formed a separate JV with GIC in the commercial segment.

In December last year, DLF promoters sold 33.34 per cent stake in rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs 9,000 crore. DLF's stake in the JV firm DCCDL is 66.66 per cent. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Housing ProjectsRealty major DLF
RELATED NEWS
Hero Realty forays into NCR; to invest Rs 900 cr in housing project on Dwarka Expressway Hero Realty forays into NCR; to invest Rs 900 cr in housing project on Dwarka Expressway
Your dream home made easy now? Builders get big boost Your dream home made easy now? Builders get big boost
Rs 4.64 lakh crore worth housing projects stuck across India, Maharashtra, NCR affected most Rs 4.64 lakh crore worth housing projects stuck across India, Maharashtra, NCR affected most
Emaar India to complete, deliver 10K units by 2019-end at Rs 1,000 cr cost, says new CEO Emaar India to complete, deliver 10K units by 2019-end at Rs 1,000 cr cost, says new CEO
Government mulls mechanism to complete stuck housing projects; banks willing to invest Government mulls mechanism to complete stuck housing projects; banks willing to invest

LATEST NEWS

Delhi to have its own school education board; Arvind Kejriwal says focus will be on providing jobs, proposes this unique exam pattern

Gold Price Outlook – Gold, Silver prices may see further fall next week; expert tells what to do to maximise gains

JEE Main 2021: RUSH! March registration ends today—Here is how you can apply

7th Pay Commission Latest News: Central government employees' alert! one mistake could cost you your LTC claim—check report

Covid 19 Phase 2: These government employees to be reimbursed 'medical expenses' for coronavirus vaccination

NEET 2021 exam: Check here the latest update on dates and all you need to know for registration before appearing in the test

3 free LPG cylinders likely again for Ujjawala scheme beneficiaries

7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021?

Gold Price Outlook: Yellow metal falls by over Rs 11,500 in last six months; may crash much more

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range, says investors should trade keeping volatility in mind

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved