Mumbai-based real estate development company, Lodha Group, plans to invest Rs I 2,000 crore
for developing, exclusive commercial spaces in the city. The Group has earmarked a portion of
its land reserve for six such projects. Work on the first IT park and techno campus at Kanjurmarg
and corporate campus at Mahalaxmi is on. Projects at Parel and Thane are scheduled to follow.
LAND RESERVE: “Corporates today are looking for commercial space with lifestyle
Our ‘iTHINK’ projects will offer the best of infrastructure and amenities on par with corporate
parks across the world. We will dedicate over 25 per cent of our land bank to commercial
projects and have currently earmarked an in~ vestment of Rs 2,000 crore for ‘iTHINK’ projects,”
said the Director, Mr Abhisheck Lodha. The techno campus at Kanjurmarg will be spread across
18 lakh sq. ft. while the one at Thane will be about 22.5 lakh sq. ft. The Mahalaxmi project will
be about 4.5 lakh sq. ft and the Parel venture 1.5lakh sq. ft.
MODERN CAMPUS The modern office campuses will have large landscaped areas, tree-lined
walkways, fountains and water bodies. Amenities include latest gymnasium, designer interiors,
upscale retail spaces and restaurants, large auditoriums and conference facilities, well-stocked
library and creche. Infrastructure needs such as multi-level car park, leisure space, and
uninterrupted power supply from internal power grids have also been factored in. Mr Lodha said
there is a gradual shift for commercial spaces from South Mumbai to North Mumbai. After
Lower Parel and Bandra Kurla Complex, the focus is now on the suburbs such as Parel and
Thane. Other reasons for this transition are closer proximity to residential hubs and availability
of floor space at affordable prices.