DLF has acquired an additional 7.48-acre land parcel in Gurugram, taking its contiguous holding in Sector 61 to about 36 acres as the realty major expands its luxury housing portfolio.
New Delhi, October 17 — Realty major DLF Ltd has acquired an additional 7.48-acre land parcel in Gurugram as part of its plan to expand its residential development business amid strong demand for luxury housing.
The newly acquired land is contiguous to a 28-acre parcel on Golf Course Extension Road that DLF had acquired in early 2024.
With the latest transaction, the company expects to have a contiguous land parcel of around 36 acres in Sector 61, Gurugram, Managing Director Ashok Tyagi told analysts during a conference call.
Tyagi said DLF made some payments to lenders during the September quarter towards the additional land parcel.
According to the company’s investor presentation, DLF spent ₹353 crore on land-related payments during the September quarter, compared with ₹210 crore in the first quarter of the current financial year.
The company expects the latest land transaction to be completed by March-end, although Tyagi did not disclose the total acquisition cost or the timeline for launching the housing project.
The original 28-acre plot was acquired through a transaction linked to loans extended to real estate developer IREO.
In 2024, DLF had entered into an agreement with Standard Chartered Bank, Singapore Branch, DB International (Asia), Singapore, and Deutsche Investments India to acquire non-convertible redeemable bonds issued by IREO.
Tyagi had said at the time that the outstanding loan was around ₹1,200 crore, but lenders agreed to a one-time settlement, allowing DLF to acquire the debt for ₹825 crore.
The original 28-acre site has a total development potential of around 7.5 million square feet.
With the addition of the latest 7.48-acre parcel, the overall development potential of the site is expected to increase significantly.
Golf Course Extension Road has emerged as one of Gurugram’s key residential micro-markets, particularly for premium and luxury housing. Several major real estate developers have launched high-end projects in the area.
DLF, India’s largest listed real estate developer, has completed more than 185 projects covering over 352 million square feet.
The company currently has around 275 million square feet of development potential across residential and commercial segments, including projects already under execution.
