Lodha Group sells Rs 500 crore worth flats in 9 days at Mumbai high rise
The company's iconic 117-storey project, `World One Tower' and located in south-central Mumbai
Dec 10, 2014
Source : The Economic Times

 

MUMBAI: Premium realty player Lodha Group has registered bookings to the tune of over Rs 500 crore for an ultra luxurious residential project in the metropolis, three years after it was reopened for booking on November 29.

The company's iconic 117-storey project, `World One Tower' and located in south-central Mumbai.

"After three years, bookings have reopened for a limited window. Despite challenging environment, we have received record bookings of around Rs 500 crore from November 29 to date," Lodha Group Managing Director Abhishek Lodha said today.

The bookings will close on December 14. Nearly 75 per cent of the civil construction has been completed. The project is expected to be completed in 2016. Lodha had announced the project in 2010. Initially, the Directorate General of Civil Aviation (DGCA) had opposed the project, citing security concerns.

"But now we have all the necessary approvals in place and expect this project, once completed, to generate revenues to the tune of over Rs 5,000 crore," he said.

The Mumbai-based realty major is developing 3 and 4 BHK apartments, which are likely to fetch in the upwards of Rs 70,000-80,000 per sq ft. Lodha is also developing two other towers - World View and World Crest - on the land parcel spread over 17.5 acres.

Latest Realty News

Realty finds bond issue going tough
Dec 10, 2014
Mumbai: For many developers, bonds were touted as a strategy to reduce costly debts
UDH dept limits luxury realty project’s height
Dec 10, 2014
JAIPUR: The urban development and housing (UDH) department revoked the permission granted to the luxury multi-storied apartment project to construct the building up to 30 metre height
Fringes packed, illegal realty now builds up in rural Pune
Dec 10, 2014
PUNE: The illegal building chaos is not limited to Pune's fringe villages alone
HDFC Realty, Infibeam foray into instant home booking
Dec 10, 2014
AHMEDABAD: Infibeam and HDFC Realty have teamed up to launch a new initiative that would help people book homes online
Axis Bank cuts fixed home loan rate to 10.40%
Dec 10, 2014
Mumbai: Axis Bank Ltd, India’s third largest private sector bank by assets on Tuesday cut its fixed rate home loan interest rate to 10.40% from 11.75% earlier
Illegal constructions to add to overloaded civic body’s woes
Dec 09, 2014
Pune: Add to the existing civic load hundreds of illegal buildings on Pune's fringes that the PMC will be required to meet the amenity requirements of
HC: Why is BMC giving water to illegal bldgs and not slumdwellers?
Dec 09, 2014
MUMBAI: The Bombay high court rapped the Brihanmumbai Municipal Corporation, asking why it was providing water supply to residents of illegal buildings and not to similarly placed slum-dwellers
All approvals taken for Kochi project: DLF
Dec 09, 2014
NEW DELHI: Realty firm DLF Ltd said it had taken all the required approvals for the development of housing project at Kochi
Essar Group puts land on sale, expects Rs 150 crore
Dec 09, 2014
MUMBAI: Essar Group has put its 8-acre land parcel in Thane district on the block and is expecting around Rs 150 crore from the transaction
Landlords, tenants to benefit from KMC Bill passed in House
Dec 09, 2014
Kolkata: The Kolkata Municipal Corporation (Second Amendment) Bill-2014 passed in the Assembly to help in determination of annual valuation of the land or buildings or part thereof occupied by tenants in the city

Latest Realty News Of State

Realty Talk's