DLF shares jump 2% as first senior living project in Gurugram sells out for ₹1,985 crore

Shares of DLF rose nearly 2% in intraday trade on Monday after the real estate major’s first senior living project in Gurugram achieved a complete sell-out. The realty heavyweight rose 1.95% to hit a high of ₹675.55 apiece on the BSE, taking the company’s market capitalisation to around ₹1.66 lakh crore.

DLF’s first senior living project in Gurugram, The Aureva, has achieved a complete sell-out, generating sales of approximately ₹1,985 crore from the sale of 172 units. The strong response indicates growing demand for premium retirement communities in established urban centres.

The project, located in Sector 63, Gurugram, has an average ticket size of around ₹11.5 crore and an average price of approximately ₹28,000 per sq. ft. About 65% of buyers are from Delhi-NCR, while the remaining 35% are from other parts of India and NRI buyers, Aakash Ohri, Managing Director and Chief Business Officer, DLF Home Developers, told Fortune India.

Spread across 4.17 acres, The Aureva comprises 172 luxury residences with a total saleable area of more than 7.5 lakh sq. ft. Each residence has an average sellable area of around 4,121 sq. ft., with approximately 2,500 sq. ft. of carpet area, as per the company.

“The Aureva has achieved a complete sell-out, generating sales of approximately ₹1,985 crore. The project has an average ticket size of approximately ₹11.5 crore and an average price of around ₹28,000 per sq. ft. Given the scale, price point and nature of the product, The Aureva is distinct from a conventional residential sell-out, with no comparable product of similar size and price point currently available in the senior living market,” Ohri said.

Growing demand for premium senior living

According to Ohri, the response to The Aureva reflects growing demand for premium senior living in Gurugram, particularly among seniors who want to remain within established urban ecosystems rather than move to remote retirement destinations.

“Today’s urban seniors are also fundamentally different from previous generations. Turning 60 is no longer viewed as retiring from life. They are healthier, more active, financially better placed and keen to remain professionally, socially and personally engaged,” he said.

He added that seniors continue to have deep-rooted connections to the cities where they have lived, including family, friends, communities and professional networks. This is driving demand for senior living communities that combine luxury homes with wellness, healthcare and social infrastructure.

“What they increasingly seek is senior living within the urban ecosystem they are accustomed to, with larger, well-designed homes, strong wellness and healthcare support, and easy access to the city and its social infrastructure,” Ohri said.

The Aureva has been designed around these requirements, combining luxury residences, wellness and lifestyle amenities, healthcare access and community engagement within Gurugram’s established premium residential corridor.

DLF’s senior living plans

The Aureva marks DLF’s entry into the senior living segment. However, the developer is not yet committing to a wider pipeline of similar projects across Gurugram, NCR or other cities.

“At this stage, our focus is on delivering The Aureva and establishing a differentiated benchmark for senior living in India,” Ohri said.

The project also highlights the operating component of senior living, where healthcare and other services are an integral part of the proposition alongside the underlying real estate.

DLF plans to appoint a specialised healthcare brand to operate the medical centre closer to the project’s delivery. The other amenities and facilities will be managed and operated by DLF.

“This model combines specialised healthcare support with DLF’s management of the wider residential ecosystem to support residents’ comfort, independence and quality of life,” Ohri said.

The project offers spacious 4 BHK residences, with each apartment featuring two master suites. All apartments are designed as corner units, while every residence also has a dedicated dormitory for domestic help.

The project’s location adjacent to DLF The Arbour, which crossed a billion-dollar sales milestone in 2023, also places The Aureva within one of DLF’s established luxury residential corridors.