MUMBAI: Real estate developer DLF Home Developers, which announced the re-entry into the nation’s costliest realty market -- Mumbai last week with a 416 units project with a price tag ranging from Rs 4.8 crore to Rs 9 crore or an average of Rs 42,500/sqft, said the project has been fully sold out with a potential realisation of Rs 2,300 crore in completion.
DLF said Friday that it has sold all the 416 units, including apartments and penthouses, in the first phase of The Westpark project in the suburban Andheri (west) area. The sale kicked off only last week.
The Westpark, being developed as a slum rehabilitation project in association with the New Delhi-based Trident Realty, involves four towers of 44 stories each (37 floors for residents). Although the plan was to launch two towers initially, due to high demand it is adding two more towers now in the first phase itself, the company said.
“We sold the entire inventory within a week at an average price of Rs 42,500/square foot. Non-resident Indians accounted for about 20% of the sales. Three of the five penthouses were sold for Rs 35 crore each, at about Rs 70,000/sqft,” Aakash Ohri, the joint managing director and chief business officer of DLF Home Developers told reporters here.
“Our reentry into Mumbai represents a significant strategic milestone for DLF, this city has always been a key component of our national growth strategy, and with the launch of The Westpark, we are proud to offer a development that resonates with the aspirations of the city’s discerning residents.
“We are both humbled and gratified by the overwhelming response, the inventory for Phase 1 of the project has been completely sold out in less than a week, a remarkable outcome in a market typically characterised by gradual absorption. Initially, we launched only two of the four planned towers, but due to exceptional demand, we brought all four towers to market, resulting in the sellout of all 416 units,” Ohri said.
The Westpark project marks DLF's return to Mumbai after exiting the city in early 2010 after selling the land parcel it had acquired from NTC for around Rs 700 crore in early 2000s to the Lodhas for a reported Rs 2,000 crore.
The Mumbai project follows similar swift sales in Gurugram, its focus market with the Privana West and the Privana South collectively raking in Rs 12,800 crore in sales last year, and its super-luxury project The Dahlias clocking about Rs 13,744 crore in sales bookings in FY25.
The next big project from the DLF stable will be in Goa, shortly. The second phase of The Dahlias in Gurugram will be launched in the March 2026 quarter.
DLF was the second highest-selling developer in FY25, after Godrej Properties. The company reported record sales bookings of Rs 21,223 crore in FY25, up 44% from Rs 14,778 crore in FY24. It has projected sales of Rs 20,000-22,000 crore in FY26, from a long pipeline that includes the next phase of The Dahlias, and the Mumbai and Goa launches.
The company has already achieved almost half of its FY25 sales target in the first quarter itself. It has clocked Rs 11,000 crore from the Privana North, having sold the entire project inventory within a week of launch.