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DLF looks to sell 150B rupees of apartments in new sales strategy

DLF Ltd. intends to sell 150 billion Indian rupees of apartments within three to four years as part of its reinvented home sales strategy, India's Mint reported.

It will focus on selling properties that are completed or at an advanced stage instead of marketing them off a plan. The Indian developer believes the strategy will help it achieve higher realization and mitigate regulatory risks and delays that are beyond its control.

About 90 billion rupees to 100 billion rupees of the units that DLF intends to sell within the time period are in Gurgaon, Mint said.

To support the strategy, DLF said it will develop new projects to create inventory that will be offered at pace with demand. At Moti Nagar in central Delhi, DLF began construction on its joint development project with Singaporean wealth fund GIC Pte. Ltd., which will offer roughly 7 million square feet of saleable area.

As of Feb. 16, US$1 was equivalent to 64.34 Indian rupees.