No slowdown in real estate sector, demand coming from tier II, III towns: DLF
Demand for premium serviced apartments and studios in Lucknow, which has been growing rapidly
Mar 21, 2013
Source : The Economic Times


LUCKNOW: While the country may be going through a slowdown, country's leading real estate player DLF says that it did not feel any such downward pressure. Vice Chairman and MD, DLF, Mohit Gujral said that the demand for residential and to some extent commercial projects was always there and DLF did not feel any effects of the slowdown. He said that tier-II and III cities have also emerged as prominent centres with lot of pent up demand for high quality housing and commercial projects.

He said that the demand for premium serviced apartments and studios in Lucknow, which has been growing rapidly, has led to DLF launching "My Pad" multi utility spaces in the state capital.

The 600 contemporary studio suites which comes with concierge services, would cater to needs of professionals, expats, and businessmen.

He said that the projects that DLF has undertaken in UP have had a very good response enthusing them to consider expanding their operations here.

"We sold more than 1,000 plots in Garden City township in a short span and have received encouraging enquiries for the My Pad studios. The growing prosperity of people in tier-II and III cities has led to demand for premium residential and commercial projects in these towns. People look for a better standard of living and there are specific demands of working professionals which we intend to provide. We hope to increase our operations in UP and provide international living standards to people here".

He said that DLF intends to start studio apartment projects in other cities of the country, as professionals who keep traveling frequently would like to own such a space.


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