Risland India targets Rs 300 cr revenue from sale of 39 ready luxury flats in South Delhi project

Risland India targets Rs 300 cr revenue from sale of 39 ready luxury flats in South Delhi project

New Delhi, Nov 15 (PTI) Realty firm Risland India is expecting a revenue of around Rs 300 crore by selling the remaining 39 apartments in its completed ultra-luxury housing project in South Delhi.

Global realty firm Risland Holdings forayed into the Indian real estate market in 2019 with its first housing project near Chhattarpur in the national capital at an estimated cost of about Rs 750 crore.

In a statement, Risland India said the company has obtained the occupancy certificate (OC) for the 100-metre high-rise project 'Sky Mansion'.

Risland CEO Jonathan said the project was officially launched in 2020 but the company is offering possession to its customers in advance as against the official possession date of August 2024.

'There are 160 units in the project and out of that 121 units have been sold so far,' Jonathan said.

The company has achieved sales bookings of Rs 600 crore from these 121 sold units and expects another Rs 300 crore from the balance 39 apartments.

Risland India Director (Sales & Marketing) Saurabh Sharma said, 'Now since the OC has been received and the project has been completed, the project will be sold out soon.' J S Virk, Sales Head, Sky Mansion, said, 'Ready-to-move-in homes are much in demand across the nation and the New Delhi market in no exception. We are very positive of even higher capital appreciation our esteemed clientele will now be able to enjoy.' Hong Kong-based Risland has presence in nine countries and regions, including India.

In the national capital, there are very limited group housing projects from private developers.

Realty major DLF has completed a large project in Moti Nagar and developing more homes at the same location.

Parsvnath Developers has one project at Civil Lines and the Unity group is developing one at Karol Bagh. Godrej Properties, Prestige Estates, Tata Housing and Raheja Developers are also building or planning to build projects in the national capital.

TARC Ltd is also planning a luxury housing project at Moti Nagar in the national capital. PTI MJH TRB

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