~ Over 1,500 applications on Day 1, making it the most successful IPO style real estate application process ever
~ Dynamic IPO style allotment process to enable large participation, the first ever in the region
June 29th, 2015, Mumbai: Lodha Developers, the largest real estate developer in the country, has opened bookings for the pre-launch of its latest development – a world class neighbourhood spread over 88 acres in Prime Central Thane. Over 1,500 applications were received on Day 1 of the IPO-style application process, which is a new innovation in real estate, building upon the process commonly used in the equity markets. The ‘issue’ was pre-launched simultaneously across the globe including in India, New York, Singapore and Hong Kong. The issue presents a unique opportunity for investors and end users all over India and the world to buy high quality real estate in Mumbai Metropolitan Region at attractive values.
The customer application window opened on 27th June and completed applications will be accepted until 5th July. Lodha Developers has planned a self contained development of smart sized 1 and 2 bedroom residences in 28+ storied elegant towers. Besides the lucrative location, key highlights of the masterplan include 80% open spaces, world-class landscaping and prices that start at Rs. 55 lacs only. The most unique aspect about the project is that it caters to a large untapped market of mid-segment luxury home buyers, who are looking for the right product, location and price point especially within this region. The location has gained popularity in the recent times for multiple reasons, especially its scenic
beauty, better social and hard infrastructure.
Speaking on the success, Abhinandan Lodha, Deputy Managing Director of Lodha Developers said, “We are extremely pleased that we have received over 1,500 applications on Day 1 itself. It shows the confidence that purchasers have in our developments and our brand and we look forward to this interest growing so that maximum number of people can take advantage of this great opportunity. Thane is at the cusp of exponential growth and one of the hottest investment destinations in Mumbai today. A self sustaining metropolis, its population has grown by 117% in the last five years alone and continues to grow by almost 10% annually. The government’s planned focus on making significant improvements in the region denotes Thane’s importance towards sustaining growth in the country. The area enjoys good connectivity and premium developments at an ideal price point as compared to neighbouring districts, all of which make Thane attractive from both a liveability and an investment perspective. Our development is well located on Kolshet Road and in close proximity to prominent schools, hospitals, parks and business centres. The strong initial response for the project shows the robust demand and confidence in Thane’s growth story.”
The development is gearing up to be a big-bang opportunity with applications being accepted through a unique IPO styled process– the first ever from Lodha Group in the Affordable-luxury category. Allotment will be done via an automated algorithm on a first-come-first-serve basis and customers have the option to apply online on the company’s website, at the dedicated Application Centre in Thane, or through any registered channel partner. More details are available on
The project will feature a mega clubhouse spread over 25,000 sqft, an international standard football ground, cricket field and a plethora of lifestyle amenities.
ABOUT LODHA DEVELOPERS PVT LTD
Established in 1980, privately held Lodha Developers is India’s largest real estate developer and amongst the world’s select multinational real estate brands with presence in India and the United Kingdom. The company is one of the most profitable players in India and the largest by sales for three consecutive years. It achieved net sales of INR 7,790 Cr for FY 14-15 and INR 7,520 Cr for FY 13-14 with INR 8,092 Cr in FY 12-13 and INR 3,911 Cr in FY 11-12. The group currently has total land holdings of over 6,000 acres with an estimated saleable area of ~490 million sq ft. Of this, 27 ongoing and 21 planned projects, spread over 1,284 acres of land, comprise 100 million sqft of saleable area. In addition our land reserves of 4,750 acres – the largest in the Mumbai Metropolitan Region – have an estimated saleable area of 388 million sq ft. Our ongoing and planned projects and land reserves combined have been valued at USD 11.8 billion by Knight Frank as on October 2014.
Historically, we have executed and delivered projects to the tune of 26 million square feet across Mumbai, Pune and Hyderabad. In FY 14-15 alone the company delivered 5.7 million square feet and 5,500 units across projects. The group plans to deliver more than 11.8 million sqft in FY 15-16.
Lodha’s vision of ‘Building a Better Life’ extends across markets with several landmark developments to its credit including World One – the world’s tallest residential tower, and Palava City – the first Greenfield smart city in the country. The group has brought some of the top global names including Armani/Casa, Trump, Philippe Starck, Jade Jagger, Kelly Hoppen, Greg Norman and Pei Cobb Freed to India.In November 2013, the Group 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). The Group acquired another premium site in Prime Central London, ‘New Court’ at 48 Carey Street, taking the combined investment to GBP ~400 million. The group is on target to deliver over 1,000 homes each year from 2017 and is planning a further £3 billion worth of investment in the UK by 2018. 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. Over 2% of the group’s annual profits are dedicated to social prog ams with a focus on education as the best medium to enrich society.With offices in London, Dubai and Shanghai and planned openings in the USA and Singapore, the group is on the road to a substantial international presence.www.lodhagroup.com
For more information please contact:
Lodha Developers Pvt. Ltd. Ph: 9930339238