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Real Estate developer, DLFis coming up with ready-to-move-in flats as part of a new business model given the slow conditions in the segment.
The company is set to start the construction of two million square feet (msf) residential project in the first phase — out of the eight msf. The entire project will be on complete and sell business model. “It is a better model as the customer no longer needs to worry about legal issues, ownership of land, modifications of building plans,” said Rajeev Talwar, CEO, DLF. According to industry experts, there is a demand for ready-to-move in properties due to trust deficit that is currently prevalent in the market.
“Ready to move-in-property is more of a trend in North India as compared to the South.Customers down south are not as cautious as their northern counterparts, ” said Mudassir Zaidi, Executive Director - North, Knight Frank India. DLF in its third quarter of the current fiscal had reported a total income of ₹2,405.89 crore while the net profit stood at ₹333.65 crore in the same quarter.
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