DLF to generate Rs 8000 cr from middle-income housing project

India’s largest real estate developer, DLF Ltd plans to generate revenue of around Rs 8,000 crore from new housing projects for the great Indian middle-class. This project will see fruition in the present quarter (July-September) in different cities Bangalore, Chandigarh, Chennai, Indore and Kolkata, in the coming three to five years.

DLF expects middle-income housing projects to account for 20 million sq ft of the 50 million sq ft it plans to develop every year in the years ahead. The company’s land bank as of June 30 has a development potential of 625 million sq ft.

The new project would have 3-bedroom apartments costing between Rs 40-45 lakh. DLF has already begun its middle-class housing project in Gurgaon. According to DLF Vice-Chairman Rajiv Singh, the location for the middle-income housing project would be determined by the economic activity of a particular region.

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