Gurgaon sees surging demand for mid-segment luxury Apts

Gurgaon now experiences and sees an improved demand for mid-segment luxury apartments.
Gurgaon now demands more mid luxury houses

Gurgaon now demands more mid luxury houses

The growth of Gurgaon as a synonymous name for luxury housing segment was very fast. However the city is now witnesses more demand for mid-segment luxury apartments and residential properties.

Gurgaon was one of the top cities which have seen large number of launches in the top end luxury housing segment. Despite of the higher number of ultra-luxury launches, the demand was still more. The top earners for whom luxury is a way of living, these properties are nothing but what secures their happiness in life.

However, now the city is witnessing an altered demand. Gurgaon now is more demanded for mid-segment luxury apartments. Seeing this, the builders are also coming up with projects in the segment.

In fact the sky reaching property prices are said to be one of the main reasons behind the altered demand. With property prices rocketing in the city, top end properties are not so highly demanded now. Continue reading

HUDA Postpones Plot Allotment: Owners’ Wait Gets Longer

As Haryana Urban Development Authority (HUDA) has postponed plot allotment in Gurgaon; following the HC order, the wait of the 700 plot owners still got longer.
HUDA postpones plot allotment

HUDA postpones plot allotment after the HC order.

Haryana Urban Development Authority was expected to allot the plots to the plot owners last week. However, surprising the plot owners of Gurgaon, HUDA postponed the plot allotment.

All the steps had been completed for the HUDA to announce the draw of lots last week. However due to some reasons HUDA has to postpone the plot allotment for indefinite period of time.

Plot owners have been battling for owning a plot in Gurgaon for a quite long time. They hoped that their battle would get over as HUDA had been expected to announce the plot allotment. Continue reading

Real Estate Advisory Firm Maxxed Realtor Goes Online

Gurgaon based Maxxed Realtor, a real estate advisory firm, goes online as it launched new website Maxxed.in. The firm expects to widen its services to the NRIs as well.
Real estate advisory firm plans to launch new website.

Aiming the NRIs, real estate advisory firm launches new website.

With the aim to reach out the Non- Resident Indians (NRIs), Gurgaon based real estate advisory company has launched a new website. The real estate advisory firm also aims to create awareness about the brand among them.

Maxxed Realtor believes that they will be able to widen their services to the NRIs by using the online systems. While launching the new website, Mr. Sandeep Singh, Chairman of Maxxed Realtors, said that website has become essential for all sorts of businesses. He added that his firm never wanted to get behind others in this case. Continue reading

Adani Realty-M2K Tie Up To Launch Oyster Grande Gurgaon

Adani Realty has announced its tie up with M2K. Delhi-based M2K Group and Adani Realty will jointly develop a premium housing project- Oyster Grande Gurgaon.

Adani Realty, Adani Group’s real estate wing has revealed its plan to launch its latest residential project in Gurgaon. Adani Realty will be launching this housing project in collaboration with M2K.

Adani Realty and M2K will have equal shares on this residential project. According to the available information, the estimated investment for this residential project is about Rs.1000-Crore. The 40 acre sprawling Oyster Grande is to be set on Dwarka Expressway. Continue reading

Real Estate India Grows Global with Global Stars

Global stars like Maria Sharapova, Diego Maradona and Michael Schumacher paid visit to India in relation to their endorsements. Real estate builders bag global stars to endorse their projects.

Both Michael Schumacher and Maria Sharapova are endorsed with real estate firms. Diego Maradona came to India to endorse a jewelry group.

When India was in the F1 mood, Homestead Real Estate brought in Michael Schumacher to endorse its debut real estate project in India. Honoring the seven times F1 world champion their superior class luxury project at Sector-109, Gurgaon is named ‘Michael Schumacher World Champion Tower.’ Continue reading

Real Estate Fails to Tackle Surging Housing Units Demand

Surging Housing Shortage of India.

Surging Housing Shortage of India.

Continued population boom in India leads to a situation where residential units or space remains insufficient for the people. According to Cushman and Wakefield all major cities of India are in high need of around 2.1 million new housing units to meet the increased demand. Real estate sector has to come up with new residential projects to solve out this great menace. Real estate has to play a vital role. Continue reading

Indian Government Certifies Vadra’s Real Estate Deals Clean

India Government Labels Vadra as "Corruption Free."

India Government Labels Vadra as “Corruption Free.”

Government of India ruled out all sorts of enquiries into the allegations against and leading real estate developer firm DLF Ltd. Robert Vadra, son in law of Sonia Gandhi, Congress president and the most powerful politician of India. Continue reading

Gurgaon Real Estate Claims Best Investment Option

Many factors and features of Gurgaon make it the best option for the investment. Recent trends show that real estate is the top rated form of investment. The lower interest rates of bank deposits and uncertainty and greater risks of share investments turn the attraction of people to real estate investment. Real estate investment stands ahead of other forms of investment. Real estate investment is getting more popularity and more amount is being invested in real estate. Decreasing number of plots and increasing demand assure the investors that the price never goes down. Real estate as a whole witnessed a steady growth all over the world and India. Among the fast developing real estate sectors in India Gurgaon remained the fastest growing  and the best option for real estate investment. Continue reading

Suburbs Become New Paradise for Real Estate Investment

Real estate investment has greater scope in the suburbs is clearly shown by the growth of Gurgaon and Noida. Recent trends show that the suburbs are more preferred to Metropolitans for Real estate investment. This is due to the change of attitude of the people and their living conditions. Comparing to the earlier days now even the wealthiest class people are ready to relocate and live in the suburbs. The upcoming “millions worth Luxurious apartments” are all built for this class of people. Suburbs remain the best place for real estate investment. If Real estate investment is a wise decision then Real estate investment in suburbs is wiser. Continue reading

Delhi: Homes Sells Faster Than Mumbai

Mumbai may be second to Delhi in unsold homes, but it will take longer to sell them. Real estate developers in the financial capital must wait over three years to clear 1.13 lakh units or 120 million sq ft as high prices deter potential buyers, shows a study released by Liases Foras, a real estate rating and research consultant.

The study covers units in Mumbai Metropolitan Region (MMR) — including Mumbai city, Thane, Kalyan and Navi Mumbai — National Capital Region in Delhi, Pune, Hyderabad, Bangalore and Chennai. NCR, with 232.57 million square feet or 1.60 lakh units of unsold homes — roughly double Mumbai’s —will likely sell homes much faster, in 23 months.

“The NCR market is primarily an investor market and has very little comparison with Mumbai,” says Om Ahuja, chief executive officer (residential services) at Jones Lang LaSalle India. “The real estate market in areas like Gurgaon or Noida attracts a lot of money from neighbouring states like Punjab, UP and Delhi as people invest in residential properties.” Among the six metros, Pune homes will be sold the fastest, taking just 14 months to sell its 43.06 m sq ft at the current pace of buying. A steep rise in interest rates in the last 18 months was seen as the key reason for low sales as buyers try to avoid high home loan instalments.

The Reserve Bank of India cut key rates by 50 basis points last month, forcing lenders to lower their retail lending rates which could push sales.

 

 

Unitech comes up with Gardens Galleria in Noida.

Unitech, one of the India’s leading integrated developers of large-scale real estate projects, has launched Gardens Galleria in Noida. It is part of Unitech’s existing 147 acres entertainment-cum-retail destination in Noida.
Gardens Galleria, designed by US-based firm Callihon, is spread over 8.36 acres, is strategically positioned adjacent to sector -18, Noida and Film City. It is minutes away from ITO, East Delhi, South Delhi, and Noida Expressway. The project is in the midst of established residential areas, offices, colleges and other commercial towers.

The destination already comprises of an international standard themed amusement park Worlds of Wonder and The Great India Place, a shopping mall. The mall, a combination of entertainment, retail and hospitality, in Noida will comprise of hyper market, departmental stores, international shops, spa, gymnasium, banks, ATMs, food and fun joints. The project comprises 230 retail outlets and there is also parking facility for 8,500 cars. Unitech has already got over 10 lakh patrons a month in its three operational malls the Metro Walk in New Delhi, Great India Place in Noida and Gurgaon Central.

Commenting on the launch, Munish Baldev, head-retail of Unitech said, “We are happy to launch Gardens Galleria in Noida. Unitech has already developed 1.3 million sq ft of mall area in New Delhi, Noida and Gurgaon since 2006, and is developing another 4 million sq ft of retail space in cities such as Kochi, Gurgaon, Bangalore, Lucknow, Mohali, Bhopal, Bhub­aneswar, and Dehradun. We have always been bullish about the retail development space and have been developing the shopping malls as per our business plan. We have been getting strong traction from retailers for leasing of the mall-space under development.”

Genesis Luxury, Genesis Lifest­yle, French Connection, Nautica, Louis Philippe, Van Heusen, Calvin Klein are among some of the major brands who have their stores in Galleria. The company is also developing another 4 million sq ft of retail space in cities such as Kochi, Bhopal, Bhubaneswar, Bangalore, Dehradun, Mohali, Lucknow, and Gurgaon in the next 4-5 years.

JLL: Residential Realty Market is set to appreciate in 6 months.

Jones Lang LaSalle India, a global research firm in the real estate sector, says that prices of residential units in India in the next six months should witness marginal appreciation. JLL says: “Over 60% of residential launches in the Top 7 cities (mostly in cities other than the NCR and Mumbai) are priced in the range of Rs 2,000-4, 000 per sq. ft., which meets the demand of middle-income buyers.”

At the same time, the RBI has given sufficient indications of probable cuts in key rates during second half of 2012, which will improve affordability for homebuyers and provide lower interest costs for developers. This will help in increasing the demand for residential units in the country. JLL also argues that even in the present bad condition, prevailing absorption rates are at nearly 10-12 %, which translate into an average absorption period of 8-10 quarters for a residential project. “This implies that at average prices, any average residential project should be sold out before construction is completed in around three years from the launch.”

JLL says that new project launches, which were slow in Mumbai and the NCR in the first half of 2011 due to approval and land acquisition issues, have now started to pick up. This should improve cash flows for developers having large land banks during 2012. A number of builders have acquired huge land banks on borrowed fund. As the builders pay huge interest rates, nearly 15-18 % on the borrowed fund, the servicing of debts has put huge strain on their finances. Any improvement in off-take is likely to release them from the financing pressure.

In the present slowdown condition, despite bad financial conditions, builders are not cutting the prices as in most parts of the country; they have priced their projects at nearly cost prices. “With rising input costs, developers do not want to sell below a threshold, which does not justify their minimum replacement returns,” JLL says. “This leaves home buyers with a small window of opportunity – the next six months – when home prices should witness marginal appreciation. After six months, a second wave of high appreciation is predicted.

However, in some of the micro markets in Mumbai and the NCR, the appreciation in prices was even sharper. In the last two years, in some of the markets like Gurgaon’s Dwarka Expressway, prices have almost doubled.

Overall, the Indian real estate market went through a slowdown in the last one year. But, all the predictions of a hard landing for the residential property market in 2011 and 2012 have failed to come true, so far.

HUL sells leasehold rights for Mumbai property

FMCG major Hindustan Unilever Ltd (HUL) on Wednesday said the company has sold its leasehold rights of a property in Mumbai for Rs 452.5 crore to Ajay Piramal Group firm Piramal Realty.

HUL and entities of Piramal Realty have signed an agreement for assignment of HUL’s leasehold rights of the land and building named ‘Gulita’ situated at Mumbai for Rs 452.5 crore, HUL said in a filing to the BSE.

The consideration includes both fixed and variable components, it added.

According to sources, realty consultant Jones Lang LaSalle India negotiated the deal on behalf of Piramal Realty.

The property was taken on lease from Maharashtra government by HUL and used as a training centre, a source said, adding Piramal Realty will use the premises to develop a new residential complex.

In the past few years, HUL has been selling off some of properties it owns, including some in Gurgaon and Mumbai, to unlock value.

Shares of HUL today closed at Rs 399.55 on the BSE, down 1.08 per cent from its previous close.

Buyers back in Real Estate Sector this Navaratra.

Buyers are back in the realty market this Navaratra, lending credence to this festive season’s reputation as a golden period for business in this sector.

There is flurry of activity in the offices of realty firms as buyers are coming out to seal deals. The mood is likely to remain upbeat till the end of summer vacation of schools.

“I am sure that this positive momentum in the market will continue till summer vacation when even more end users are likely to clinch deals,” Samir Jasuja, the chairman and managing director of Prop Equity, says.

“After Navaratra, summer vacation in schools is regarded a good time for realty, as people wait for the end of term of their children to shift houses or buy one. The summer is a time of transfers and relocation; a time of school admissions and hunting for a house near schools, so that children can have an easy commute,” Jasuja says.

Gaurav Mittal, the managing director of CHD Developers, says: “The mood is really upbeat in the market with people finalizing deals in property. While market warms up during Navaratras even during bad times, this Navaratra is different. The quantum of deals is unexpected, though a welcome development.”

Jasuja says, “Notwithstanding a slew of legal battles, buyers are taking a final call on their new purchases in Noida and Greater Noida.” A report of Prop Equity says that the current financial year has proved to be good for almost all the big cities of the NCR including, Noida, Gurgaon, Ghaziabad, Greater Noida and Faridabad.

Sanjay Khanna, the director of Kailash Nath Developers Pvt Ltd, says: “I hope the worst is over for realty market and transactions take place till the end of summer vacation in schools. This Navaratra is proving to be very auspicious for the realty world. I know that NRIs, too, find the summer months an ideal time to return to their roots in order to buy property. Their search for a property also starts during the summer. This is the time when they visit India in order to meet their relatives and, side by side, also look for nice properties. They do not mind paying slightly more for good properties.”

Realty watchers say that April-June period records a high quantum of property transactions. Realty market picks pace from Navaratras. This is a time when end users finalize their deals and those looking for new homes on rent, also shift. The summer is also a time when the resale market picks up nicely.

Vijay Jindal, the chairman and managing director of SVP group, says: “It is a hectic period from Navaratra and through the summer months. A lot of transactions take place at all levels.” He says that during the summer, buyers give priority to those projects which are close to good schools.

Gurgaon is safe as an investment bet.

Capital values rose by more than 30-35% in Gurgaon’s residential sector over the last one year. Developers are now going slow on execution of real estate projects, resulting in a drop in supply of residential apartments in most prime markets. Emerging residential areas are still not able to meet the huge housing demand.

Due to rampant construction delays, the expected supply of residential properties announced in early 2009 has not been able to reach the market. Around 500,000 units that were scheduled for possession in key markets by end of 2011 are delayed by another year.

There has been an increase in lateral hiring by corporates. With job scenario improving all over the country, people have more to spend. This has resulted in good investment opportunities, and investor sentiments in the affordable and mid-income segment of Gurgaon’s residential market have improved.

Gurgaon remains promising for office space, and there are good prospects for more major global players setting up operations here in near future. On the whole, this augurs well for the residential property market, more or less assuring relatively healthy absorption of residential space in the times to come. The new infrastructure initiatives being undertaken by the government will also play a crucial role for Gurgaon’s residential and commercial property sectors.

CCI again caught DLF for imposing unfair conditions on flat owners.

CCI has again accused DLF of imposing unfair conditions on home buyers on its high-end residential project Magnolia in Gurgaon. For this, Magnolia Flat Owners’ Association had filed a complaint against DLF Universal, Haryana Urban Development Authority and the Director Town and Country Planning, Haryana, with the Competition Commission of India (CCI).

In the report, the CCI director general found that DLF has issued allotment letters, and apartment buyers’ agreements were signed even before it got approvals from the town planner. Also, the builder has revised the building plans and applied for increasing the height of the towers after collecting 90% of the money from the buyers, and two months after the original date of delivery promised by the company.

CCI had also found DLF guilty of abusing its position at the Park Place Project in Gurgaon, where they asked the company to cease and desist from imposing unfair conditions on buyers. The order had also directed DLF to suitably modify the unfair conditions imposed on existing buyers within three months.

Drish Paul, the president of the Magnolia Flat Owners’ Association, said that “Many people are living on rent, waiting for apartments to be handed over. We would eventually like to get compensated for the loss due to the delay in completion of the project.”

In a similar order in August 2011,CCI had slapped a fine of 630 crore on DLF for unfair practices, abuse of market dominance and disregard for consumer rights in its Belaire residential project in Gurgaon.

40 mn sq. ft. to be developed in next 5 years by South Asian Real Estate.

At the launch of ‘Green Parc II’, which is the fourth phase of its 65-acre integrated township in Gurgaon, SARE Homes Chief Operating Officer Vineet Relia said, “We are looking at developing an additional 40 mn sq feet over the next five years. We are focusing on seven major cities in the country”.

“In the near future, we plan to launch projects in Navi Mumbai and are looking to acquire land parcels on the growth corridors of large cities in India,” SARE Homes Executive Director David Walker said.

Recently, the company has invested in eight projects in Gurgaon, Ghaziabad, Navi Mumbai, Chennai, Amritsar and Indore, representing around 36.5 million square feet.

Gurgaon Farmers Plan to Move Court for Trust Land.

Gurgaon: Farmers of Ullawas village decided to move to High court of Punjab and Haryana to reclaim land leased for 33 years to the Rajiv Gandhi Charitable trust in 2009. The land was leased for setting up a charitable eye hospital on 5 acres of Panchayat land. They have also decided to move court to reclaim an acre of land leased to another social organization, the Church Gate Medical Society, for setting up a dental facility.

We will also file a petition against government officials who were instrumental in pressuring the panchayat head and members to pass the resolution and sign lease deeds in favor of these societies. The deputy commissioner on the direction of Harayana Government threatened to dissolve the panchayat and dismissed sarpanch, forcing them to pass the resolution and sign the leads.

However, Prakash the Sarpanch, refused the allegations of pressure on the Panchayat by the deputy commissioner. A bunch of politically ambitious farmers are trying to flare up the issue to gain political mileage.

Godrej Properties Stands Tall, But Weak Demand is a Concern.

Worried about economic and political factors influencing the real estate sector, investors have dumped real estate stocks in the past few months. The 15-member BSE realty index is down by 40 percent in past one year. The members of the index have had varying degrees of fall in their stock prices ranging between 8.5 percent and 81 percent during the same period. However, through all this, the Godrej Properties scrip has not only held its ground, but also registered 19 percent appreciation in price in the last one year.

One of the few business houses to be in real estate, Godrej Properties is a national real estate developer with presence across 11 cities in mid-income housing development. One of the biggest advantage enjoyed by the company is the equity of its brand “Godrej”. At a time when the sector is losing investor confidence due to some of its players’ supposed involvement in corruption, having a strong and reliable brand in the realty space could not have been more cherished by Godrej Properties.

Given the command of high interest rates, high influence is yet another issue for real estate companies. The low capital-intensive model is a good change over other capital-intensive companies. The fourth quarter ended March 2011 has been the best one for the company driven by sales from its projects in Ahmedabad and Gurgaon. The company is expected to launch 4.5-5.5 million square feet area in fiscal 2012.

Though, one of the concerns is its geographic concentration of the company’s landbank around half of which is located in Ahmedabad and another concern is the weak demand in Mumbai market where the company’s ambitious project ‘The Trees’ is being constructed at Vikhroli. The demand should recover by the next 02 years.

Real estate prices fly in Delhi, NCR

NEW DELHI: Real estate prices in some areas of the NCR glided high by 20 to 27%  in the first quarter of the current financial year as compared to the subsequent period of 2010-1. “Property prices for Delhi have seen boom if we compare per square feet prices of Q1-11 over Q1-10. Certain key areas like Sarita Vihar and Rohini have seen 27% and 20% growth respectivly in prices compared to prices over Q1-10”.

According to a report, the upward price sentiment would continue as the prices on average are hiking up by 15%. The South Delhi locality Sarita Vihar’s PSF prices rise by 27.60% at INR 8,110 as compared to Inr6,356 in the period of 2010-11, while north Delhi-based Rohini’s PSF prices increased by 25%. This is followed by Patparganj at a PSF price appreciation of 21.68%. Other localities like southwest Delhi-based Dwarka sub city’s PSF price also increased by 28 % in sector-11 and sector-2.

Realty prices in suburban NCR like Noida and Gurgaon also increased because of metro rail services came into operation. Prices per square feet in sector 110 and sector 93 of Noida also moved up by 16 %  and 11 % respectively,  as compared to prices in the corresponding period of last financial year. “Gurgaon witnessed an upgoing trend in property prices. Properties located on the Sohna Road and DLF City phase IV have seen the highest growth in prices by 46 % and 42 %, respectively, in Q1-11 over Q1-10”.

 

DLF’s Net Profit Dropped by 4.8%

India’s biggest real estate company, DLF Ltd, accounted a bordering drop of 4.8% in its net profit for the year ending 31 March 2011. Company’s combined net profit stood at Rupees1,640 crore in comparison to Rs1,720 crore in fiscal 2010. The earnings per share for the year stood at Rupees9.66 versus Rupees10.13 in fiscal 2010.

However, for the quarter ending 31 March, organisation’s net profit stood at Rupees 344.54 crore, a drop of 19% in comparison to Rupees 426.38 crore in the subsequent period in the previous financial year. It reported combined revenue of Rupees10,145 crore for the year ending 31 March 2011 and an increase of 29 per cent from Rupees7,851 crore in the subsequent period in the previous fiscal.

EBIDTA stood at Rupees 4,337 crore, after adjusting for a one-time cost reset due to input price high of Rupees 475 crore.

TATA Housing Project

Company declared in the coming three years will build a luxury housing project in Gurgaon and also declared its plans to venture into the international market this financial year. The sale price of a house starts from Rupees 1.5 crore. As the company’s expansion plan company is coming up with apprx 10 new projects this year. Also, they are looking at two new lines of business related to land development. It will be smaller in size than the realty business.” The company is planning to expand operations into international markets.

The plan to get into the international market is in advance stages, while the proposal for expanding into two new lines of business is still at an intial stage. He did not reveal further details on these new initiatives.  This is the company’s second project in the city and the company is in advanced stages of launching two more projects in the Delhi-NCR this financial year.

Sayaji Hotels Ltd to Invest Rs100 Crores in Pune; Plans to Expand Operations

On completion of two years in Pune, Sayaji Hotels Ltd is planning to invest Rupees100 crore in Pune. . “This expansion will be completed by September 2012
with a total investment of Rs 100 crore” said, Sajid Dhanani, MD, Sayaji Hotels Ltd. The group is planning to expand its operations with a sports and cultural club, restaurant, mall, meeting and conference facilities and service apartments.
“The demand for hotels and restaurants is increasing at a good rate in Pune. Dhanani’s estimate is 22 per cent as far as hotel business is concerned. Though supply of rooms in the last two-three years has increased considerably, the restaurant business is on the rise far more speedily.
Moreover, Sayaji Hotels further plans to influence the brand image it has created in Pune by exploring in other locations like Bangalore, Chennai and Gurgaon wherein majority of its customers come from automobile, Information Technology and Engineering industries. It also has plans to expand Barbeque Nation brand from current 18 divisions in the country to around 33 divisions by the end of the year. The new Barbeque Nation restaurants will be opened in majorly in metropolitan seven cities such as Mumbai, Delhi NCR, Chennai, Bangalore, Hyderabad, Kolkata and Pune. The group’s turnover was roughly around Rupees 190 crore for the financial year 2010-11.

‘M3M Golf Estate’ in Gurgaon – 7 Star Luxury Apartments

M3M India Ltd. chains up with Larsen & Toubro, one of the leading construction firms to build their finest luxury residence in Gurgaon which is 7 star to be named as “M3M Golf Estate”..  This project will be constructed by L&T in collaboration with LERA International, the world’s leading consulting firms. The estimated worth of this deal of phase – 1 is about Rupees 400 cr, out of a total investment of over Rupees 2,000 cr. Lera International will be providing it’s most modern and pioneering structural engineering designs. In a press release it is declared that the project will be completed in 33 months much prior to the scheduled time of completion of 42 months.

The project is tactically located on the Golf Course Road (Extn.) in Sec 65, Gurgaon, which is 30 mts drive from Indira Gandhi International Airport spread over an expansive 75 acrs. Graham Cooke, the world famous architect has designed the magnificent apartments around a 9 hole reversible ‘In City’ golf course. The architecture is a perfect fusion of eco friendly, green sceneries and cutting edge designs. The project is designed by world’s finest architects ARCOP headed by Ramesh Khosla. The project has already received awards internationally in USA, UK and Dubai, as “Best Upcoming Golfing Lifestyle Residence in India” .

“In line with our commitment to give the best of quality and timely delivery, we are happy to appoint L&T which is one of the world’s best construction groups. “M3M Golf Estate” is our much honoured project, internationally acclaimed, and we have designed this, keeping in mind the taste, class and the requirements of our target clients. We ensure the use of latest technology and safety of structures” said Basant Bansal, Chairman and Managing Director, M3M Group.

M3M Golf Estate offers high – tech ultra modern luxury apartments with all modern amenities like wi-fi in all buildings, roof- top jogging path, and superior class club houses. These apartments will trait world class amenities, unique outdoor and indoor living spaces, modern kitchen, sated with fittings and high quality end fixtures. It also offers aesthetically designed golf course.

DLF Deals with Mango: Ramps its Presence in Fashion Retail

DLF Brand, a subordinate of DLF Ltd, has come up with its presence in fashion retail trade by collaborating with the Spanish Brand Mango. This happened since the brand announced its two other new retail trends, including a multi-brand showroom chain, of its own. The DLF group company had also launched, for the first time, its own brand, Pure Home and Living, a premier home decor and furnishing brand of retail showrooms. The first of the showroom opened in Delhi  two months back competing with Future Group’s Home Town and Landmark Group’s Home Centre.

Mango, the Spanish Fashion Brand, with over 1,700 showrooms worldwide, decided to sign up DLF as partner to fast track its expansion after nearly a decade of operations in India. The Spanish Brand of clothing has been majorly in partnership with Major Brands through which it released almost 15 stores. DLF will be leading the new showrooms openings. DLF, which has already opened Mango’s travel retail showroom at the new terminal (T3) of New Delhi airport and plans to add another six more stores in the current year, said DLF Brands CFO Dipak Agarwal.

“The major collaborations are now looking to grow assertively here in India having been around for so long. The company wants to concentrate on brand-building and designate the expansion to its franchisee,” Agarwal added. DLF also operates other universal fashion names such as Armani, DKNY, Ferragamo and Mothercare.

DLF is set to launch a multi-brand retail store chain of international fashion brands, the company official said. These showrooms will also store brands that are not part of DLF Brands and will be competing with the high-end retail formats like The Collective, a unit of Aditya Birla Nuvo.

“The multi-brand showrooms will be like a premium discount showrooms keeping high-end fashion labels but at lower price, as there is an opportunity in the market for such showrooms which are highly internationally popular. These stores will be done up gracefully and won’t look like the second stores or factory outlets which are available at present,” Agarwal said. The first of the multi-brand showroom is spread across 10,000 sq. ft which will open in Gurgaon.

DLF group spreads across 16,000 to 18,000 sq. ft is looking to open more 4-5 stores in Mumbai, Bangalore and Pune by end of this year.