April 15th, 2014, Mumbai: Lodha Group, India’s leading real estate company, today announced the acquisition of an 88 acre land parcel in the Thane region for Rs 1,154 cr from Clariant India.
Speaking on the acquisition, Abhinandan Lodha – Deputy Managing Director, Lodha Group, said: “Thane is a rapidly developing part of the Mumbai Metropolitan Region and we see strong,sustained demand for quality homes in the region.”
“We believe today’s consumer is not simply looking for houses, but for world class quality of life. By acquiring this large-size parcel we will be able to offer our customers not just apartments, but an enhanced lifestyle.”
The Group plans to develop residential projects on the parcel, and expects to have all permissions in place in 12 to 18 months.
About Lodha Group:
Privately held Lodha Group is India’s No 1 real estate developer with net sales exceeding INR 8,700 cr in FY 2012-13. The Group is currently developing over 35 million square-feet of prime real estate, with over 20 projects in Mumbai, London, Pune and Hyderabad. The company is one of the largest employers in Mumbai with over 3,500 direct associates and over 25,000 workmen at its sites.
Lodha is constructing the world’s tallest residential tower, World One, in Mumbai and has brought some of the top names in design and architecture – including Armani/Casa, Trump, Philip Starck, Jade Jagger, Greg Norman and Pei Cobb Freed – to India. In the last 12 months, the group has acquired two other landmark land parcels – the 17 acres Mumbai Textile Mills parcel from DLF and the landmark Washington House property from the US Government on Altamount Road in Mumbai. Most recently, the Group has expanded internationally and acquired the landmark MacDonald House in Prime Central London from the Canadian Government. Located at 1, Grosvenor Square, this property is widely regarded as the most prestigious address in the world. The Group followed this with the acquisition of another premiere London property ‘New Court’on CareyStreet.
More details about the company are available on www.lodhagroup.com
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