DLF To Pump In Rs 150 Billion For Residential Projects

DLF, India’s major real estate developer, announced that it plans to invest Rs 150 billion over the coming three fiscals to construct various residential projects across the country.

The company has raised Rs 16,750 million as private equity in eight projects in November 2007.

According to sources, DLF Home Developers, the wholly-owned arm of DLF, would develop about 40,000 housing units in the mid-income category.

Despite slump in the housing demand for the last six months, the company has witnessed marvelous response for its mid-income housing projects and sold over 7,000 flats so far in the current fiscal.

DLF has unveiled mid-income housing projects in Bangalore, Gurgaon, Hyderabad, Indore, Kochi, Kolkata and Pune.