DLF Plans to Construct 1 Lakh Affordable Houses
DLF Plans to Construct 1 Lakh Affordable Houses – Embarking new marks, DLF one of the India’s largest reality company has plans to construct 1 lakh affordable houses in some major cities all across the country.
The costing of each house would be under Rs 20 lakh. As per reports and sources, now the company is just devoting its final efforts to work out its strategy effectively and efficiently. According to the plans, one lakh housing units will be constructed in next 3 years under a new
brand and costing will be inclusive of all charges.
In the mid of this year, one of the competitor of DLF named Unitech declared its entry into this segment as part of its attempts to recreate demand in this sector effected by the global downturn. Last week, in the presentation given to analysts, DLF management said, “The launch of new ‘value’ house segment with a distinct brand is under planning, but did not divulge further details”.
After confronting big debt pressure, as per reports, DLF registers net profit of Rs 440 crore in the quarter ended on September 30, 2009, although it is 77% less than the previous fiscal. DLF has plans to begin housing project from Gurgaon within the next 2 months. Around 10,000 units out of 1 lakh houses are expected to be in Gurgaon.
Along with Gurgaon, DLF has plans to construct low cost houses in other major cities of the country, including Kochi, Bangalore, Chennai, Chandigarh, Lucknow, Hyderabad etc. In addition, the size of the houses would be of approx. 700 sq ft. There will be no compromise on quality of construction and other facilities, as per sources.
The expected net profit margin by DLF is of around 25% from this arena. All across 30 major cities of the country, DLF has total land bank of 432 million sq ft and that is sufficient to construct affordable houses. Out of total land bank, 49 million sq ft is under construction. In all possible verticals of real estate, the company has its wide presence; either it belongs to shopping malls, offices, housing, IT parks, SEZ, townships or hotels.
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