NRIs snap up Privana North condominiums as DLF clocks ₹11,000 crore in bookings

Bengaluru: Almost 30% of the homebuyers in DLF Ltd's latest premium residential project were non-resident Indians (NRIs), a top company official said on Wednesday, after wealthy consumers snapped up the plush condominiums in a testament to robust demand for high-end properties in the country.

DLF clocked ₹11,000 crore from bookings in Privana North, as it sold the entire project inventory within a week of its launch, it said on 16 June.

The project, part of the company’s larger 116-acre township DLF Privana in sectors 76 and 77, Gurugram, offers 1,152 four-bedroom apartments and 12 penthouses spread across 17.7 acres. With apartments priced at an average of ₹9.5 crore and penthouses at ₹25 crore, the rapid absorption signals continued appetite among affluent domestic and non-resident Indian (NRI) buyers for high-end, master-planned communities.

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“Besides strong demand from NRI customers, around 10% buyers in DLF Privana North are from outside Delhi-NCR. This success also speaks to the strength of the larger community we are building, continuing the legacy of DLF 5 as a benchmark for luxury, master-planned living,” Aakash Ohri, joint managing director and chief business officer of DLF Home Developers Ltd, told Mint.

The robust sales follow similar swift sales at DLF Privana West and Privana South, which collectively raked in ₹12,800 crore last year. This latest launch cements DLF’s position as the dominant player in Gurugram’s luxury housing segment, even as it eyes expansion into new, more competitive markets like Mumbai and Goa later this fiscal year.

“Privana North is a more evolved product than the first two projects, in terms of the design, larger apartments etc. Prices in this project have gone up to ₹23,000 per sq ft compared to Privana South that was sold at around ₹18,000 per sq ft early last year,” Ohri added.

While the project and location have attracted buyers, the DLF brand has a key role in the sales momentum for Privana North, he added.

DLF’s strong momentum mirrors a broader surge in luxury housing demand across India’s top cities, fuelled by rising disposable incomes, a swelling pool of high net worth individuals, and increased allocation toward real estate amid limited high-yield alternatives.

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In the January-March quarter this year, 1,930 housing units priced at ₹4 crore and above were sold across India, marking a 28% year-on-year increase, according to property advisory CBRE. Delhi-NCR accounted for the largest share of these sales, followed by Mumbai.

The developer reported record sales bookings of ₹21,223 crore in FY25, up 44% from ₹14,778 crore the previous year. It has guided for sales of ₹20,000–22,000 crore in FY26, banking on a pipeline that includes the next phase of its super-luxury The Dahlias project in Gurugram as well as launches in Mumbai and Goa.

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In FY25, DLF had launched its super luxury project The Dahlias, which clocked around ₹13,744 crore of sales bookings in the last fiscal.