Worli emerges as Mumbai’s preferred luxury district

January 23, 2015 By LODHA

The Park reopens with over 250 crores of sales in one weekend

Mumbai, 23rd January 2015: Worli, located at the entry to South Mumbai, is emerging as the preferred luxury district of Mumbai with the rich and famous moving here in large numbers. The Park, located at this central hub, has recently received unprecedented interest within one weekend (two days) – clocking over Rs 250 crores – re-establishing the area as one of the most coveted places to live in Mumbai.

Worli has become hub to a plethora of offices and conglomerates being headquartered in this area. This is well complimented by two of the city’s newest luxury hotels, the Palladium Hotel and the Four Seasons, as well as the Phoenix Mills and Palladium mall, which will soon be joined by another luxury retail centre, this one by Bombay Dyeing, at Spring Mills. Entertainment has also acted as a proponent,with a slew of popular flagship brands such as PVR multiplex, SMAASH, Blue Frog and a host of independent restaurants and bars emerging in the erstwhile mills of this area.

Lodha Group has been at the forefront of the urban renewal of this prime location, building some of the most coveted residential developments in this area, including World One (which will soon top off as the world’s tallest residential tower), and The Park, a luxury 17-acre development that has Aishwarya Rai Bachchan as its brand ambassador.

Commenting on the gentrification of Worli, Abhinandan Lodha, Deputy Managing Director of the Lodha Group said, “Mumbai desperately needs a world class live-work-play destination, which is easily accessible from all parts of the city. Worli enjoys great connectivity with Malabar Hill and Nariman Point as well as Bandra and the airport. With the focus of the government on making significant improvements in the investment climate in Maharashtra, we expect that Worli will become the hub to showcase how Mumbai can offer a world-class mixed use location. In fact, we recently re-opened bookings for ‘The Park’ and in just one weekend (two days), over 250 crores of residences have been sold. This shows
that with great quality products in this location, there is only one direction to prices and demand – up!We recommend that anyone looking at Mumbai from a medium to long term respective should consider buying into a high quality development in this area at current prices.”

Shveta Jain, Executive Director, Residential Services, Cushman & Wakefield (i) Pvt. Ltd. acknowledged the development by saying, “There is interest from clients, both in Mumbai and from offshore, to own prestigious real estate in the city. The area has outrun our expectations for 2014 and we expect decent returns in terms of market lease rates as well as capital gain rates year on year. Some of the nicer developments in this region are being led by the Lodha Group of Mumbai – adding to the fervour is a gorgeously landscaped 17-acre space called The Park.”

Mrs. Aishwarya Rai Bachchan, future resident and brand ambassador for The Park, has expressed her appreciation of the development, stating The Park as an outstanding development, at par with the best internationally. Currently 2, 3, 4and 5 bed apartments are being developed across the mixed-use development which will feature select bungalows and townhouses.

About The Park:

Inspired by the great urban parks around the world, The Park offers an ideal urban lifestyle, one that is currently not possible in Mumbai. This 17-acre master-plan district is located at Worli, on the property purchased by Lodha in 2012 for Rs. 2,727 crore from DLF, and at Mumbai’s Golden Mile – a mile long stretch of premium residences, offices and entertainment centers in south-central Mumbai. This is the very first time that a master plan has been prepared for a development in South Mumbai that will feature a variety of mixed use developments around a 7- acre park, much like the development around Central Park in New York. Exclusively designed as a tribute to nature, The Park will feature 7 acres of world-class landscapes set on top of a 70 feet tall ‘hill’. Products ranging from high rises, town houses, luxury retail and few select bungalows have been planned around the 7-acre park.

Designed by world’s leading architects WOHA, Singapore, with landscaping by the internationally acclaimed P- Landscape, The Park will be a fully-integrated community with a choice of playgrounds and a treehouse for children, a retail plaza, a range of gourmet dining options to choose from, a magnificent clubhouse framed with hanging gardens and trees, India’s finest concierge services from Club Concierge and India’s first Evander Holyfield gym. With 85% of the development consisting of open spaces, including organic gardens, picnic gardens, a wetlands garden and a butterfly island, The Park offers a multitude of experiences and a diverse range of environments for residents. Designed for a demanding niche clientele and combining the highest quality of design with excellence of service, these residences are among the most prestigious in the world.

Media Contacts:

Vivek Sharma: 9820438399 / vivek.sharma@lodhagroup.com

Jovita D’souza: 9930339238 / jovita.dsouza@lodhagroup.com