India’s leading developer, Dlf has announced that major changes have made in various development plans, moving ahead in the realty sector around the country to concentrate on luxury homes in the northern part of the country. The slow moving demand and debt concerns mean that it is putting aside its previously aggressive pan-India plans to focus on the common territory of its house market in the northern part of the country. After getting the freedom, The Dlf group was founded in 1946, this statement was released formerly.
For new launches, the prime and main focus is dropped on the northern India, while the overall focus in the southern is to complete the tiny and big projects, we have formerly initiated, “said MD and vice chairman of Dlf India. Recently, Indian leading developers are facing an uncertain economy, weak home sales in the prime cities and greater interest rates, prompting them to privileged scale back or put on hold diverse projects planned during the rising years of 2005/2007 in Asia’s third largest economy.
Dlf Group is playing an important role to build luxury homes, offices and shopping malls, said it plans to break ground about 10 to 12 million square feet during the year, compared with 12 millions square feet in the year that finished in March and half 24 million square feet it commenced in march 2008 according to Ambit Capital.