Get Your Own Businessabc AI Visibility ID
Boost AI visibility, credibility, and discoverability
DLF's first residential project was Krishna Nagar in East Delhi, which was completed in 1949. Subsequently, the company developed 21 colonies in Delhi, including Model Town, Rajouri Garden, Punjabi Bagh, South Extension, Greater Kailash, Kailash Colony and Hauz Khas. The passage of Delhi Development Act in 1957 was the first serious challenge to company's growth. The Act meant that the government would assume control of all real estate development activities in the city.As a result, DLF decided to move beyond Delhi and focused on the suburb of Gurgaon in Haryana. which had the potential for development of residential and commercial properties. As DLF started to acquire land under the leadership of Chairman K.P. Singh, Gurgaon embarked on a period of rapid growth.The land purchase program adopted a humane approach so that the sellers do not feel short-changed. To this effect, DLF partnered with farmers so that they also got a share in profits. DLF acquired and created a land bank and then sold plots to buyers after demarcation. The profits from the sales were subsequently shared with farmers, which encouraged more farmers to come forward and partner with DLF.A ?58 crore deal was cancelled between DLF and Robert Vadra by IAS officer Ashok Khemka.DLF climbs 4% as realty firm sells 292 luxury homes for Rs 1,800 crore.
