DLF to sell only completed flats under new biz model

DLF will sell apartments only when it gets occupancy certificate after completing the project as part of its new business model to remove any uncertainty regarding costs and delivery timelines, a senior official of the realty major said. The decision assumes significance as the Indian real estate market, especially Delhi-NCR, has been facing huge delays in project executions, forcing home buyers to protest and move courts. Lakhs of home buyers are stuck in various projects of developers such as Jaypee group, Amrapali, Unitech and The 3C Company. Highlighting the company's new business model, DLF's group CFO Saurabh Chawla said the company would sell only completed products from now onwards. "Customers are now averse to taking risk and they prefer to buy ready-to-move-in apartments," he added.