DLF, the real estate developer, plans to invest around Rs.3,500 crore in various residential and commercial projects in and around Chennai and in Hyderabad. The projects will be developed through a SPV, which will have equity capital from DLF, JV partners. The balance fund requirement would be met through internal accruals.

DLF Commercial Developers have proposed to set up a housing project under the premium category on 100 acre behind Siruseri, Chennai at an investment of Rs.1,200 crore. The project is expected to be completed in the next 31 months.

The company also plans to develop plots and bungalows on 250 acre land at Sriperumbudur, near Chennai. The project is likely to entail an investment of Rs.450-500 crore. The bungalows are likely to be developed in a phased manner over the next 3-4 years.

DLF plans to infuse another Rs.400 crore in the IT SEZ at Manapakkam in Chennai. The real estate major has already invested Rs.1,100 crore and has developed 2 million sq. ft in Phase I.

A sum of Rs.250 crore is being invested for developing a luxury mall in Chennai spread over 5 acre and another Rs.150 crore will be spent on setting up a 300-room premium business class hotel at Siruseri.

In Hyderabad, the company is developing three malls at an outlay of Rs.600 crore, a group housing project at Rs.400 crore and intends to spend Rs.150 crore on plot development.

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Work on DLF's Infopark to commence by end-January (09-Jan-09)