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World Market Tips - Balance Your Trade
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Stocks of DLF surged nearly 4 per cent today after India’s largest real estate company managed to sell 400 plots in just one day on Thursday. The plots, priced between Rs. 1. 2 crore to 2 crore, fetched the company Rs. 700 crore. The sales realisations will accrue to the company over the next two years according to reports.
On Thursday, the company had launched these plots at a basic selling price of Rs. 40, 000 per sq yard in Gurgaon. The size of the plots varied from 300 sq yard to 500 sq yard.
These plots are a part of the 101-acre township that DLF is building. A large group housing project is a part of the township. The plots will be handed over to the buyers in two years, when the group housing would be complete.
DLF had earlier said that the company would focus more on plotted development this fiscal as it generates faster cash-flow compared to group housing.
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Category: News
Date: 2011-07-01 21:45:03
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