This represents more than 75 per cent of the 400 apartments that were opened for sale, making it one of the most successful recent residential launches, the Mumbai-based developer said in a statement.
Loans up to Rs 75 lakh will attract interest rate of 8.7 per cent per annum, while it will be 8.75 per cent for higher amounts, HDFC said in a statement.
Under the 'Pradhan Mantri Awas Yojana', the urban poor people constructing houses will get up to four per cent subsidy on interest rate for constructing houses up to Rs 9 lakh. The interest rate subsidy will be three per cent on house construction cost of up to Rs 12 lakh, the Prime Minister said.
The practice of buying a property in the name of someone other than the buyer has been widely misused to buy real estate with undeclared income and with fake names and identities to avoid paying tax.
HDFC's Keki Mistry cited the example of the demand for housing which suffered in the wake of the Lehman crisis in India to back his optimism.
Multiple reports following the November 8 demonetisation have also said that there may be adverse impact on the real estate sector.
However, little correction in pricing is expected in metros, while land prices in the small towns may witness high price cuts post a lull in sales.
The multi-year slowdown did not deter investment as cash-starved developers raised Rs 48,300 crore in 2016 from PE investors to fund their projects, up 53% from last year's, according to property consultant Cushman & Wakefield.
Ms Karnad of HDFC says the interest of people to buy homes or locate a property still continues to be very good.
Any move to clean up India's messy real estate market could prove to be a mammoth and messy task and would come even as the Modi government is facing mounting criticism of its handling of the cash crunch that followed the scrapping of higher denomination currency notes.
The move comes after Sebi earlier this month had issued detailed norms for public issuance of REITs, including allocation of units to institutional investors.
A top Finance Ministry official said the government will do everything to strengthen the institutions required for effective operationalisation of the law.
Australia-based Macquarie Group will put in Rs 1,400 crore while the Tata group firm will contribute Rs 600 crore.
The company has been directed to deposit the amount with the District Collector, Ernakulam.
Experts believe that after the initial setback, the real estate sector will bounce back with greater transparency and bigger investments.
The plea alleged "this case is a glaring example of how the officials of the State and Authority connive with big builders and deprive poor villagers of their land".
DLF had announced in October last year that its promoters would sell 40 per cent stake in DLF Cyber City Developers Ltd (DCCDL).
With a likely spur in the home rentals business, especially on the back of demonetisation, property portal Housing.com has decided to re-enter the segment from early 2017.
In January this year, Godrej Properties had also entered the Noida market in partnership with Lotus Greens to develop a housing project on 36-acre land parcel.
Housing sales of most developers are expected to fall by at least 20-30 per cent on lower demand following demonetisation of Rs 500 and Rs 1,000 notes, Fitch Ratings said.