DLF announces entry in real estate market of Lucknow

Announcing their entry in the real estate market of the rapidly growing state capital with a 248 acre Gardencity residential township, Director DLF Ltd, Ananta Singh Raghuvanshi said that the response to the project has been way beyond their expectations which has given them the confidence to launch more such projects and increase their investment in the state.

"We think there was a lot of pent up demand in Lucknow for an internationaly benchmarked township which promises a better and aspirational way of life. The response to our township has been overwhelming with 80% of the project being sold already since a soft launch in December 2011.

Interestingly most of the buyers are end users who are looking for a better and improved lifestyle. Gauging from the response we are now actively working towards fast tracking the launch of other projects in the pipeline" Ananta Singh Raghuvanshi said.

She said that DLF is committed as a long term player in the UP market and their investment in the state would go up several times as the company expands its operations in Lucknow and also enters other cities.

"Over the next few years we would be launching several more projects in UP which with its several booming tier-II and III cities would be our prime area of growth" she said.

Assistant Vice President, Sales, VM Sahni said that the Gardencity integrated residential township, situated on the four lane Rae Bareilly Road in the state capital has been designed by well known architect, Hafeez Contractor and would have about 1,100 plots.

"It would be a mix of residential, retail, hospitality, educational and medical projects which would offer all facilities within walking distance and assure international level quality lifestyle with which DLF townships are associated with" he said.

The 248 acre residential integrated township called Gardencity will have Shapoorji Pallonji & Company Ltd as the construction partner

Source: http://economictimes.indiatimes.com/markets/real-estate/news-/dlf-announces-entry-in-real-estate-market-of-lucknow/articleshow/12584815.cms