An Opportunities for NRIs to Invest In India in Luxury Properties by DLF

Ohri highlighted the growing demand for larger spaces and eco-friendly buildings, driven by changing consumer preferences post-pandemic. Luxury buyers prioritize unique, customizable homes with extensive amenities and top-notch security, reflecting DLF's commitment to delivering exceptional residential experiences.

Do you see this trend continuing?

While caution is always necessary, the business is historically cyclical. However, in the past two to three years post-COVID, people have started believing that life is finite and are now investing more in bigger, better homes with superior facilities, willing to spend more money on their living spaces.

As per the investor presentation, super luxury is dominating your launches. Has DLF decided to focus only on this segment?

DLF has consistently focused on building its super luxury business, starting from the Aralia days, by drawing inspiration from global ideas and ensuring a futuristic approach. Given the high land costs and strong demand in Gurgaon, super luxury has become a severe and significant segment for DLF.

Your FY25 pipeline is vast, with projects worth Rs 36,000 crore. How have you planned the launches?

We have planned significant projects, including 900,000 sq ft in Mumbai with a sales potential of Rs 3,000 crore, 62 villas in Goa on a 38-acre site with a total sales potential of Rs 2,500 crore, another phase of Privana in Gurgaon worth over Rs 10,000 crore, and Lux5 in DLF5 with a sales potential of Rs 25,000 crore, which will be sold in phases. The pricing of The Camellias is competitive with Mumbai's market.

Are there preferences particular to luxury property buyers in India?

Luxury preferences are consistent worldwide. High-net-worth individuals in India, London, and Moscow have similar tastes. We deliver luxury projects on par with global standards.

The Crest, a DLF project in Gurugram, recently became the world's largest building and earned Platinum LEED Certification. Does that kind of accolade help with sales and marketing?

It's not just about marketing; it reflects our environmental commitment. While it doesn't directly impact sales decisions, it positions us as a conscientious developer.

Did the pandemic affect plans for any of DLF's residential projects?

Once construction starts, plans can't stay the same. However, the pandemic increased demand for larger, more exclusive homes with amenities like home offices and balconies.

Have tastes changed around materials?

Our buyers have yet to focus on specific materials. We deliver bare shells, allowing buyers to customize their spaces.

Globally, who makes up your buyer pool?

Foreigners can't buy residential property in India. Our buyers include CEOs, professionals, and NRIs from regions like Singapore, the Middle East, and the U.S., making up 15-20% of buyers.

Amenities are a massive part of DLF's residential projects. What are customers asking for these days?

We offer extensive amenities, including gyms, rock-climbing walls, pilates, yoga, hair salons, cinemas, restaurants, and pubs, often exceeding buyer expectations.

Has DLF explored co-branding with hospitality companies?

We have an independent hospitality vertical that provides service infrastructure for our restaurants, malls, and social clubs.

Which cities do you have an eye on over the next few years?

We plan to expand into Mumbai and Bengaluru, as well as our presence in other major Indian cities.

With the kind of buyer you have, is security a concern?

Security is paramount. Our buildings have a five-level security system, including CCTV, RFIDs, guards, and electronic measures, ensuring a tight security cordon.

What's your definition of luxury?

Luxury is custom-made, encompassing security, lifestyle, community, amenities, and space. It should offer both privacy and the option to mingle, reflecting individual priorities.

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