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News Topical, Digital Desk : The country's leading real estate developer company DLF may launch its much-awaited premium housing project in Mumbai in the next two weeks. According to Moneycontrol, it is believed that the company will price the apartments of the residential project located in Oshiwara suburb of Andheri (West), Mumbai between Rs 5.5 crore and Rs 7.5 crore. DLF is executing this project under the Slum Rehabilitation Plan in collaboration with real estate developer Trident Group.
According to the report, the total development capacity at the site is about 3.5 million sq ft and the first phase of the free-sale component of the project is about 9 lakh sq ft. DLF is responsible for the development and sales of the free-sale component. According to company sources, DLF's first Mumbai project will be similar to DLF's One Midtown premium development project in Moti Nagar, New Delhi, which is 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 and Rs 9.5 crore.
Planned launch in Mumbai a decade ago DLF Chief Business Officer Akash Ohri told investors during the company's fourth quarter earnings call for FY 2025 that the company hopes to launch the project in Mumbai during the first quarter of FY 2026. The company had attempted to launch in Mumbai more than a decade ago, with 17 acres of land in Worli. To escape a debt crisis in the early 2010s, DLF sold the piece of land to Macrotech Developers (Lodha Group) for about Rs 2,700 crore, which later developed the Lodha Park project. Unlike the company's predominantly luxury-to-ultra-luxury offerings in markets such as Gurugram, DLF is not targeting the luxury market in its first project in Mumbai, choosing to work in the premium segment. Property market sources said DLF sees more value and more volume potential in the premium segment, with some signs of inventory build-up in the luxury segment.
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