Mumbai: Real estate behemoth DLF is poised to make a significant entry into Mumbai’s property market with its first luxury residential project scheduled for launch by December 2024. This ambitious venture will see DLF invest INR 400 crore in equity to develop a high-end residential project in Andheri, one of Mumbai’s bustling suburbs.
The proposed project will offer a substantial saleable area of between three and 3.5 million square feet, featuring premium apartments priced from INR 5.5 crore to INR 7.5 crore. The development will predominantly include three-bedroom, hall, kitchen (3BHK) units, along with larger configurations designed to cater to the city’s affluent buyers. DLF’s new initiative marks a notable re-entry into the Mumbai real estate sector, which has been a key market for luxury residential developments. The company’s foray into this market is underscored by its collaboration with the Trident Group on a Slum Rehabilitation Authority (SRA) project.
This joint venture aims to transform one million square feet of land in the initial phase of development, reinforcing DLF’s commitment to urban regeneration in Mumbai. The project was officially announced in July 2023, signalling DLF’s strategic push into Mumbai’s competitive real estate arena. This development is expected to enhance the city’s luxury housing landscape, integrating modern amenities and high-end living spaces.
DLF’s Mumbai venture not only highlights the company’s robust expansion plans but also underscores its strategic approach to tapping into high-value real estate opportunities. With a significant investment and a high-profile partnership, DLF is set to play a pivotal role in shaping the future of luxury living in Mumbai. As DLF moves forward with the project, stakeholders and potential buyers will be keenly watching how the development progresses and how it will influence Mumbai’s luxury property market dynamics.
