by THO
As many as 40% of high-net-worth individuals who have bought into DLF’s yet-to-be-launched ultra-luxury housing project ‘The Dahlias’ in Gurugram are those who currently own units in the company’s earlier projects, The Camellias and The Aralias. For a brand like DLF, that’s rock-solid repeat clientele that provides a firm catchment. As DLF’s Home Developers Joint managing director Aakash Ohri puts it, the towering brand legacy gives it salience and that is where the brand loyalty comes in, just like those who swear by an Apple product or a Birkin bag.
“Take the analogy of a Birkin bag or an Apple phone. Why would someone pay more for a new product in the market? It’s because they have experienced the product before. It’s the legacy of the product that a customer falls back on. Today, buyers want bigger and better products,” he told HT.com
He said that as many as 40% of people who have bought into DLF’s project plan to upgrade from other super luxury projects such as the Camellias or the Aralias.
Ohri also said that as many as 12% of buyers are NRIs from the US, Middle East, Southeast Asia, and the UK.
High-net-worth individuals from cities such as Kanpur, Bhubaneshwar, Lucknow, Kolkata, and Ludhiana have also invested in these 173 ultra-luxurious units.
The cost of a 10,000 sq ft apartment in The Dahlias is around ₹70 crore
DLF has sold 173 ultra-luxury apartments in its new project, The Dahlias, for almost ₹11,816 crore in nearly nine weeks. This is almost 41 per cent of the project’s offerings. The 17-acre housing project, which is set to be launched by mid-2025, has already sold 173 of the 420 apartments available.
Ohri said the selling price of these ultra-luxury units is around ₹105,000 on carpet area, and the cost of a 10,000 sq ft apartment is around ₹70 crore.
“Buyers have paid 9% cost as the booking amount, and the company has already received close to ₹1200 crore from the project,” he said.
The Dahlias will span around 7.5 million square feet and comprise 420 residences across 29 levels and 8 towers, including 15 exclusive duplex penthouses of about 350,000 square feet. The project is the latest addition to the DLF5 Golf Links community and will overlook a proposed Lake Park.
The minimum size of an apartment is 10,300 square feet. “The size of these ultra-luxury units starts at 10000 sq ft and up to 19,000 sq ft for penthouses,” Ohri told HT.com.
