The Lodha group, India’s leading real estate developers, has launched Lodha Belmondo, a five-star resort style residential project spread over 108 acres, opposite the Subrata Roy Sahara Cricket Stadium, at the start of the Pune-Mumbai expressway, near Pune.

The Mumbai-based developer is building 1,900 units, offering one, two, three-BHK apartments, four-BHK sky duplexes, independent bungalows and golf villas, with a total investment of Rs 1,400 crore in two phases. The company is raising the money through internal accruals and sales.

“In the first phase, we will build 1,100 homes, which will be ready for possession in 27 months from now,” Abhinandan Lodha, deputy managing director of the Lodha group told Financial Chronicle. Prices of these residences will vary from Rs 4,000 to Rs 9,000 per sq ft depending on the location. One-BHK unit with a 670 sq ft area will cost around Rs 37-38 lakh, while a two-BHK apartment with 1,300 sq ft area will cost around Rs 63 lakh. The independent 6,000 sq ft villas will carry a price tag between Rs 7 crore to Rs 10 crore depending on the location.

“We have partnered with Evason, the world’s premier hospitality group and Greg Norman, member of the World Golf Hall of Fame and expert golf course designer, to take luxury resort lifestyles homes to new heights,” Lodha claimed. Lodha Belmondo also boasts of a 50,000 sq ft clubhouse and spa by Evason and a 45-acre nine-hole riverside golf course designed by Norman.

“Out of 100-acre expanse along the river Pavana, 90 acres will be open spaces, charming water bodies and leafy pathways to create luxury lifestyle,” Lodha claimed.

The project will also provide space for sports, like golf, cricket and tennis, as well as for spiritual pursuits, like yoga and meditation. It will also provide and restaurants of the highest culinary standards.

michaelgonsalves@mydigitalfc.com