India Developer Sells $1 Billion of Luxury Homes in Three Days
- DLF raised more than $970 million from the apartment sales
- Sales show how wealthy Indians are ramping up realty holdings
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A top Indian developer sold 1,137 apartments that cost almost a million dollars each in three days suggesting that wealthy Indians are ramping up realty investments.
DLF Ltd. raised more than 80 billion rupees ($970 million) from the sale of the luxury apartments in the development at Gurugram, near New Delhi, the company said in an exchange filing on Thursday. All units at the project, which will have five towers spread over 25 acres (10 hectares), are sold out, the developer said.