DLF Management Expresses Cautious Confidence as It Plans Mumbai Comeback

2025-03-15 02:12:21

DLF has teamed up with the Trident Group to develop a 'premium' residential project in Andheri (West) through a slum redevelopment initiative. The first phase will cover six acres and offer approximately 9 lakh square feet of saleable space, with the overall development potential reaching 3.5 million square feet.

As the Gurugram-based real estate giant re-enters Mumbai’s dynamic housing market after over a decade, its management remains confident yet cautious. Aakash Ohri, DLF's Joint Managing Director and Chief Business Officer, emphasized that while the company is a market leader in North India, it acknowledges Mumbai’s distinct real estate landscape and competitive intensity.

Despite industry concerns over inventory buildup and a possible slowdown in sales momentum, Ohri stated that real estate demand remains strong, particularly in premium and luxury segments. He also highlighted Mumbai’s Andheri as a strategic choice, calling it a 'melting pot' with high-end infrastructure, metro connectivity, and a diverse buyer base, including business leaders and entertainment industry professionals.

DLF’s return to Mumbai comes after exiting the market in the early 2010s due to financial restructuring. Since then, it has focused on premium developments in Gurugram, Delhi, and Chennai, catering to high-net-worth individuals and NRIs. The company is now targeting a balanced mix of domestic and international buyers, expecting increased NRI investment over the next five years.

With most approvals secured for the Andheri project and MahaRERA clearance pending, DLF’s upcoming launch marks a significant milestone in its renewed Mumbai expansion.