DLF
The real estate market remains strong. The residential sector as well as commercial real estate is also seeing a boom in demand. Major real estate companies are continuously launching new projects to take advantage of the occasion. In this series, the real estate sector veteran DLF plans to invest Rs 10,000 crore on the development of premium office space and shopping malls during the current and next financial year. According to a senior company official, this investment is expected to increase the Rental Income of DLF significantly. Currently the DLF group has a total of 4.5 million sq ft commercial assets, including 4.1 million sq ft office site and 40 million square foot retail space.
More than 5,000 crore rental income
The annual fare of DLF is currently more than Rs 5,000 crore. The company is now preparing to take this income to the next level. The company’s Vice Chairman and Managing Director (Fare Business) Shriram Khattar said that grade A ++ category commercial properties in India are providing global quality at better cost, which is attracting both foreign and domestic corporates.
According to Khattar, the DLF group is expanding extensively of its hired commercial properties to take full advantage of this environment. The company is building office space and retail complex in major commercial centers like Gurugram, Chennai, Delhi and Noida to meet the strong demand of corporate and retailers. He also said that in view of the boom after the Kovid epidemic, DLF has specially emphasized on increasing its commercial presence in Delhi-NCR and Chennai.
Investment scheme gets approval
He said that DLF has already received approval of an investment of Rs 5,000 crore annually with GIC, Hynes with its joint ventures and their own books and their own books. In such a situation, DLF is creating some very expensive commercial properties in the country. “He said that the development of premium shopping malls and office sites will” significantly increase the income of rent in the coming years. “DLF Group has most of its commercial assets under its joint venture company DLF Cyber City Developers Limited (DCCDL). DLF holds 66.67 percent stake in this joint venture company, while Singapore’s Sovereign Sampard Company GIC holds the remaining 33.33 percent stake.
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