Sriram Khattar, managing director, rental business, DLF, did not comment on the deal but said the initial phase of DLF Downtown at Taramani in Chennai should be completed in the next few months.
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CRISIL Ratings has upgraded the rating on the long term bank facilities of DLF Limited at CRISIL AA/Stable from CRISIL AA-/Positive and reaffirmed the short term rating at CRISIL A1+ .
Realty major DLF will invest around Rs 3,500 crore over the next four years to construct a new luxury housing project in Gurugram as its seeks to tap strong demand for residential properties.
DLF will develop a new group housing project 'The Arbour', which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments.
DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (Feb. 15-17).