DLF Group Enters into Joint Venture in Andheri West, Mumbai with Trident Group

DLF Group Enters into Joint Venture in Andheri West, Mumbai with Trident Group

DLF Re-enters Mumbai Market with ₹400 Crore Investment. Real estate giant DLF is making a comeback in Mumbai through a joint venture in Andheri West, Mumbai with Trident Group.

• Project Details:

  • Location: Andheri West, Mumbai
  • Area: 35 lakh sq ft (estimated saleable area)
  • Investment: ₹400 crore by DLF
  • Project Type: Slum Rehabilitation Authority (SRA)
  • Launch Timeline: First phase (9 lakh sq ft) by July 2024

• Partnership Structure:

  • DLF: 51% stake in the special purpose vehicle (SPV)
  • Trident Group: 49% stake in the SPV

• Project Significance:

  • Pilot project for DLF’s re-entry into the Mumbai market.
  • DLF to manage construction, sales, and financial closure.
  • The first phase launch signifies DLF’s commitment to understanding market dynamics.

Background:

• DLF had record sales bookings of ₹15,058 crore in the previous fiscal year.
• Trident Group is currently developing the SRA project in Andheri West.

Overall, this joint venture marks DLF’s strategic move to tap into the potential of Mumbai’s real estate market.

 

 

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