India's most-valued real estate developer DLF is expected to launch its much-awaited premium housing project in Mumbai in the next two weeks, people familiar with the development have told Moneycontrol.
The company is expected to price the apartments of the residential project - located in Mumbai’s Oshiwara suburb in Andheri (West) - between Rs 5.5 crore to Rs 7.5 crore, it is learnt.
DLF is executing the project as part of a slum rehabilitation plan with real estate developer Trident Group. The total development potential at the site is around 3.5 million square feet, and the first phase of the free-sale component of the project is around 9 lakh square feet. DLF is responsible for the development and sale of the free-sale component.
According to sources within the company, DLF’s first Mumbai project is expected to be similar in template and amenities to DLF's One Midtown premium development at Moti Nagar in New Delhi, which has been the company's return to the New Delhi market after decades. The One Midtown project has apartments of various sizes - two, three and four bedroom homes - priced between Rs 3.5 crore to Rs 9.5 crore.
DLF's chief business officer, Aakash Ohri, told investors during the company's Q4FY25 earnings call that it expects to launch the project in Mumbai during the Q1FY26.
The company had attempted to launch in Mumbai more than a decade back, having owned a 17-acre land parcel in Worli. To stave off a debt crisis in the early-2010s, DLF sold the land parcel to Macrotech Developers (Lodha Group) for around Rs 2,700 crore, on which the latter developed the Lodha Park project.
Also Read: DLF's FY26 sales guidance at Rs 20,000-Rs 22,000 crore, Dahlias phase 2 in Q3FY26
Unlike the company's predominantly luxury-to-ultra-luxury offerings in markets like Gurugram, DLF is not aiming for the luxury market in its debut project in Mumbai, instead choosing to operate in the premium segment. Sources from the property market said DLF sees more value and possibility of more volumes in the premium segment, with some signs of an inventory build-up in the luxury segment.
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