DLF forays into Mumbai with premium housing project
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
8 hours ago
- India.com
Bad news for Gautam Adani, his wealth in this sector declines by 7% to Rs…, but he is still third richest individual in…
Gautam Adani's wealth from the real estate sector declined by 7% to Rs 52,320 crore in the year ending June 2025, making him the third-richest individual in the sector, according to a report released on Thursday. Despite the dip, Adani whose key projects include the Dharavi and Motilal Nagar redevelopments in Mumbai is expected to become the wealthiest individual in the real estate sector within the next five years, according to insights from Hurun Research and GROHE based on informal discussions. At present, DLF's Rajiv Singh is the wealthiest on the Grohe-Hurun India Real Estate 150 list with a fortune of Rs 1.27 lakh crore and is followed by BJP leader and Maharashtra minister Mangal Prabhat Lodha with a Rs 92,340 crore wealth. What Hurun India's Report Say On Gautam Adani? 'Adani is very ambitious. Their ambition is to take over from DLF to be at the top in the next five years,' Hurun India's chief researcher and founder Anas Rahman Junaid told reporters. Grohe's leader for India Priya Rustogi also concurred. Adani Realty, which is completely owned by the Adani family, is already the most valuable unlisted real estate company, Rahman said, adding that the researchers use a scientific way to assess wealth across the sector. Lodha's wealth includes only that of his stake in the listed Macrotech Developers and excludes that of his son Abhinandan Lodha, Rahman said. Who Others Are Part Of Hurun India List? The wealth of DLF's Singh grew 3 per cent during the year, while Lodha's was up by a tepid 1 per cent, as per the report. The top-10 individuals' wealth grew in single-digit percentages during the year except Bengaluru-based Raja Bagmane, who witnessed a 29 per cent surge to Rs 25,270 crore, and Atul Ruia's Rs 26,410 crore fortune that was up by 10 per cent. The cumulative value of the 150 companies in the list grew 14 per cent during the year, slowing down from a 70 per cent jump in the last year. Each of the 150 companies is valued at at least at Rs 1,000 crore or above. Valued at Rs 13,600 crore, city-based Schloss Bangalore led by Deepak Parekh, is the youngest company on the list which has notched the valuation within six years, while the 1871-born Peninsula Land is oldest with a valuation of Rs 1,000 crore.
&w=3840&q=100)
Business Standard
15 hours ago
- Business Standard
Gautam Adani ranks 3rd in India's realty rich list despite 7% wealth dip
Billionaire Gautam Adani, one of India's most powerful industrialists, has seen a 7% dip in his real estate wealth over the past year — now valued at Rs 52,320 crore as of June 2025. Despite the drop, Adani remains the third richest individual in the Indian real estate sector, according to the newly released 2025 GROHE-Hurun India Real Estate 150. But industry insiders believe this is just a pause before a surge. According to informal projections shared by Hurun Research and GROHE India, Adani is expected to overtake rivals to become the wealthiest individual in Indian real estate within the next five years. With large-scale redevelopment projects like Mumbai's Dharavi and Motilal Nagar already under his belt, the foundation for that climb is being laid, brick by brick. "Adani is very ambitious. Their ambition is to take over from DLF to be at the top in the next five years," said Anas Rahman Junaid, Chief Researcher and Founder, Hurun India. "We see the drive and scale of their expansion. It's only a matter of time," added Priya Rustogi, GROHE India's head. Adani Realty, which is completely owned by the Adani family, is already the most valuable unlisted real estate company, Rahman said, adding that the researchers use a scientific way to assess wealth across the sector. #1 Rajiv Singh (DLF) – Rs 1.27 lakh crore Singh tops the 2025 list with a 3% rise in net worth, thanks to the continued strength of DLF's commercial and residential portfolios. List of the top wealthiest in 2025 GROHE - HURUN India Real Estate 150 Rajiv Singh of DLF leads the list of India's richest real estate entrepreneurs, maintaining his top position with a steady rise in wealth. 2 Mangal Prabhat Lodha (Macrotech Developers) – Rs 92,340 crore The BJP leader and Maharashtra minister witnessed a marginal 1% increase. The estimate only includes his stake in listed entity Macrotech and does not account for son Abhinandan Lodha's growing wealth. 3 Gautam Adani (Adani Realty) – Rs 52,320 crore Despite a 7% decline, Adani Realty remains the most valuable unlisted real estate company in India. Owned fully by the Adani family, its long-term growth potential is seen as immense. Other Notable Movers in the Top 10 While the wealth growth of most real estate tycoons remained subdued this year, a few stood out: Raja Bagmane (Bengaluru): Rs 25,270 crore, up 29% Atul Ruia (Phoenix Mills): Rs 26,410 crore, up 10% Overall, top-10 real estate tycoons saw single-digit wealth growth, reflecting a more cautious market compared to 2024. The combined value of the 150 companies on the list rose 14% in FY25, a significant slowdown from the 70% growth recorded in the previous year. Still, every company featured has a minimum valuation of Rs 1,000 crore, underlining the sector's broad financial muscle. At one end of the spectrum is Schloss Bangalore, a six-year-old company founded by Deepak Parekh, now valued at Rs 13,600 crore, making it the youngest entrant. On the other, Peninsula Land, born in 1871, scrapes the list at the Rs 1,000 crore mark, making it the oldest company on record.
&w=3840&q=100)
Business Standard
16 hours ago
- Business Standard
DLF, Godrej, Prestige lead: Biggest realtors in India ranked by area built
India's biggest builders are not just shaping skylines — they're driving the economy. The 2025 GROHE-Hurun India Real Estate 150 has also ranked India's top real estate developers by total square footage built. At the top is DLF with a staggering 349 million sq. ft., followed by Godrej Properties and Prestige Estates. With a primary focus on commercial developments, DLF's 349 million sq. ft. portfolio includes corporate hubs, tech parks, and premium office spaces across India's metro cities. DLF tops list DLF leads with 349 million sq. ft. developed, focused primarily on commercial projects, and holds a valuation of Rs 2,07,400 Cr. Godrej Properties ranks second with 223 million sq. ft. in the residential segment and a valuation of Rs 70,600 Cr. Prestige Estates Projects is third with 180 million sq. ft. developed, valued at Rs 71,500 Cr. SOBHA is fourth with 136 million sq. ft. in the residential sector and a valuation of Rs 15,700 Cr. BL Kashyap & Sons ranks fifth with 125 million sq. ft. developed, valued at Rs 1,500 Cr. Valor Estate is sixth with 100 million sq. ft. of commercial projects and a valuation of Rs 12,700 Cr. Lodha Developers shares the rank at sixth with 100 million sq. ft. developed in the residential sector, valued at Rs 1,38,200 Cr. Brigade Enterprises is eighth with 86 million sq. ft. of residential development and a valuation of Rs 27,200 Cr. Sattva Group is ninth with 74 million sq. ft. in commercial projects, valued at Rs 3,200 Cr. Capacit'e Infraprojects completes the list with 70 million sq. ft. developed, focused on commercial, and a valuation of Rs 2,900 Cr. Beyond brick and mortar, India's real estate sector has produced a generation of high-impact entrepreneurs: 76 individuals from real estate feature in the 2024 Hurun India Rich List, underscoring their role in wealth creation. 25 real estate firms are now part of the Hurun India 500, highlighting the sector's growing financial clout. On the global front, 17 Indian developers feature in the 2025 Hurun Global Rich List, cementing their presence on the international map. Perhaps most striking is the recognition of 11 self-made real estate entrepreneurs in the Hurun India Self-Made Entrepreneurs of the Millennia list . The rankings also honor India's oldest surviving real estate institutions, many of which have stood for over a century: Peninsula Land, founded in 1871, is the oldest on the list but holds a modest valuation of ₹1,000 crore. Indian Hotels Company, dating back to 1899, shows how hospitality and real estate intersect, with a valuation of ₹1,08,300 crore. The Phoenix Mills (1905), EIH (1934), and Eros Group (1940) round out a cohort of pre-independence companies still relevant in today's market.
