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Indian Real Estate News : Mumbai
Lodha's luxury housing project The Park unveiled
Source: The Hindu Business Line Aug 19, 2013
Mumbai-based Lodha Group announced the launch of private landscape "The Park" as part of its luxury housing project in Worli developed over a 17.5-acre Mumbai Textile mill plot.

Actor Aishwara Rai, also the brand ambassador, unveiled the project launch on Monday along with Lodha Group MD Abhishek Lodha. She announced her plans of investing in the project as well.

The Park has been built on the property bought from DLF last year for Rs 2,725 crore.

"We plan to develop projects around The Park and these would include high-rises, town houses, luxury retail and even select bungalows," said Lodha.

Around 85 per cent of The Park would comprise open spaces and also include retail plaza and concierge services.

To be developed over 40 lakh square feet over the next 5-7 years, the project has already garnered about Rs 3,500 crore through pre-launch sales revenue from the first two towers sold in January. The average ticket size of the sale was about Rs 5 crore.
The project entails an overall investment of Rs 5,000 crore and 30 per cent of its customers comprise NRIs, according to Lodha.
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