Festive season brings cheer in real estate – Homes worth over INR 690 crores sold in Palava’s new pre-launch during DussehraOctober 13, 2016 By LODHA
~Palava’s new neighbourhood, Codename Golden Tomorrow gets an exhilarating response with over 1350 homes sold ahead during pre-launch
~ Sales of Rs. 690 crores achieved in a span of just 10 days
Mumbai, October 13, 2016: Lodha Group today announced yet another successful pre-launch of its new neighbourhood, Codename Golden Tomorrow in Palava City by selling over 1350 homes prior to its mega launch. In a period of just 10 days, Palava – India’s first privately developed smart city, has sold homes worth INR 690 crores.
The trust and faith of homebuyers in Palava continues to grow stronger and deeper on the back of successful completion of Phase I spread over 275 acres and 19,000 homes delivered. With the help of smart technologies and innovative construction practices, in just 6 years, Palava has already become home to more than 25,000 families – making it the fastest growing city in India. In a year that has seen developers struggle with completing their projects on time, Lodha Group has delivered a record 5,942 homes at Palava in FY 15-16, an astonishing feat that sets the benchmark for the category in India.
This newly introduced neighbourhood is a part of Palava’s 4,500 acre development that will have 20 schools including the eminent Shri Ram Universal School, an Olympic Sports Complex, a university and an iconic Centre for performing arts. It will house vast greens with over 2 lakh trees grown and nurtured at Palava’s in-house nursery. Being a mixed-used development, Palava’s own business district will serve as major source of employment offering close to 3,50,000 lakh job opportunities. In line with its vision of being amongst top 50 most livable cities in the world by 2025, Palava offers multi-purpose infrastructure based on ‘smart and green’ principles.
Commenting on the success, Shaishav Dharia, Regional CEO, Lodha Group said, “The pre-launch achievement is a testimony of the trust shown by homebuyers in our capability to deliver high quality lifestyle, and not just homes. Palava has not only created demand in a highly competitive market but has also lived up to the expectations of 25,000 families who are a part of it by providing best in class technology, facilities, amenities and most importantly community development initiatives. We are constantly innovating and investing in futuristic technologies right from construction to sustainable development ensuring quality living for everyone.”
Palava’s Phase I, is building a strong community and is enriched by 60% open spaces, over 21000 trees, 5 lac sq. ft. mall with PVR multiplex and multiple Indian and International brands, 2 ICSE schools and world class sports facilities amongst others. Industry experts have attributed Lodha Group’s success to the increasing preference of homebuyers buying real estate in Mumbai from developers who have a proven track record and credibility.
About Lodha Developers:
Established in 1980, privately held Lodha Group is India’s leading real estate developer and amongst the world’s select multinational real estate developers with presence in India and the United Kingdom. The company is one of the most profitable players in India and the largest by sales, having clocked over INR 6,400 Cr for FY 15-16. The company is currently developing around 41 million sq. ft. of prime residential real estate globally with the largest land reserves in the Mumbai Metropolitan Region and has 31 ongoing projects across London, Mumbai Metropolitan Region, Pune and Hyderabad. In FY 2015-16, Lodha Group delivered 3.3 crore sq ft of real estate and 6,800 units across projects.
Lodha Group has several landmark developments to its credit including World One, Mumbai, the world’s tallest residential tower, and has brought some of the top global names including Armani/Casa, Trump, Philippe Starck, Jade Jagger, Greg Norman and Pei Cobb Freed to India. In 2013, the Group has extended its international footprint with the acquisition of the landmark MacDonald House at 1 Grosvenor Square in Prime Central London from the Canadian Government for a consideration of over GBP 300 million (INR 3,100 Cr). Lodha Developers is one of the largest corporate entities in Mumbai, with over 3,870 direct associates and over 25,000 workmen at its sites. The group is committed to investing two per cent of its profits towards corporate social responsibility, focused primarily on education as a transformative tool. With offices in London, Dubai and Shanghai and planned openings in the USA and Singapore, Lodha Group is on the road to substantial international presence.
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