In the upcoming weeks, approvals are anticipated for DLF Limited, the listed real estate behemoth with headquarters in Delhi-NCR, to make its debut in the luxury housing market in Mumbai. It is anticipated that the project’s initial phase will begin by the end of Q4 FY 2024–2025.
In partnership with the Trident Group, DLF is developing a Slum Rehabilitation Authority (SRA) project in Andheri (West), Mumbai. In July 2023, the business declared that this project will signal its re-entry into the Mumbai real estate market. The first phase is scheduled to provide 0.9 to 1 million square feet of luxury homes.
According to DLF CEO Ashok Kumar Tyagi, permissions are presently being processed for important projects in Goa, Mumbai, and Gurugram’s Privana Phase 3.
“Our current assessment suggests that approvals for the Mumbai project should come in the next few weeks, allowing us to proceed with the launch.” Tyagi mentioned during an investors’ call last week.
He explained that while they aren’t any delays in Mumbai, the regulatory licensing procedures are taking longer because these areas are DLF’s more recent markets.
According to market insiders, the Mumbai project is expected to be launched in March 2025, signalling DLF’s much anticipated comeback to the upscale real estate market in the city.
Source: Money Control
