DLF forays into Mumbai with premium housing project 

DLF Ltd., India’s largest real estate company in terms of market cap, on Thursday announced its entry into Mumbai with the unveiling of a residential real estate project in the premium segment in Andheri west, a Mumbai suburb.

Called The Westpark, the project spanning 5.18 acres is part of a larger 10-acre master plan and will come through a joint venture with a local partner. DLF holds 51% interest in the development.  In this project, apartments are being offered at an average price of ₹42,500 per sq. ft.

“We are getting the DLF legacy of lifestyle and amenities into Mumbai. We will keep sustainability at the core,” said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd.

“We are taking Mumbai very seriously. We want to take the project off the ground first before starting any new project. Mumbai and Delhi will be two of our most important markets,” he said.

In 2008, DLF had acquired NTC land in Mumbai through an auction process but did not construct any project. Later it sold the land to Lodha Group at a premium.  Now, in its Mumbai foray, DLF is targeting businessmen, professionals and people working in the film industry.   Over one year, the company is expecting to have sales worth ₹5,000 crore. 

In the first phase, the company offers four towers, each rising 37 storeys offering a total of 416 residences. The project is coming up on a land parcel that once housed slum dwellers.  The project, to be completed in four years, will offer a mix of 3 and 4 BHK residences ranging from 1,125 to 2,500 sq. ft., along with a limited number of exclusive penthouses. Mr. Ohri said the project would be known for its landscaped gardens and various amenities it would offer.  “We will make a difference in this locality and other developers will have to match our standards,” he said.