Lodha launches luxury project at Worli, Mumbai
Jan 23 2013 , Mumbai
The current pre-launch consists of two projects — Alpha and Gamma — and comprise two, three and four-bedroom residences starting at Rs 3.2 crore.
“Having acquired the land for a very attractive price by market standards, Lodha is passing on the benefit to consumers through this pre-launch opportunity. We had set out to challenge the convention in south Mumbai by offering luxury residences in an ultra-premium location at suburban rates,” said R Karthik, chief marketing officer, Lodha Group.
Codename Blue Moon is planned for development on 18 acres land parcel that Lodha recently acquired from DLF for Rs 2,727 crore, making it the largest real estate transaction last year. The site is located opposite the Hard Rock Café on Pandurang Budhkar Marg, next to Shree Simandhar Swani Jain Temple.
The development will have a six acre park, making it the largest private garden landscape in south Mumbai.
The company claimed that its pre-launch Codename Blue Moon witnessed huge response with more than 1,000 applications representing almost Rs 4,000 crore of sales from customers within the first three hours of opening the application window. This level of unprecedented success is making the company consider the release of fresh inventory to take care of more demand expected over the next nine days, the company said in a release.
Established in 1980, the Lodha Group is developing in excess of 35 million sq ft of real estate at present, with over 40 projects in and around Mumbai. The group has further extended its luxury projects to Hyderabad, Lonavala and Pune. The developer has projects like World One, New Cuffe Parade among others.