MUMBAI, India, June 29, 2015 / PRNewswire –
Over 1,500 applications on Day 1, making it the most successful IPO-style real estate application process ever
Lodha Developers, the largest real estate developer in the country, has opened bookings for the pre-launch of its latest development – a world-class neighbourhood spread over 88 acres in Prime Central Thane. Over 1,500 applications were received on Day 1 of the IPO-style application process, which is a new innovation in real estate, building upon the process commonly used in the equity markets. The ‘issue’ was pre-launched simultaneously across the globe including in India, New York, Singapore and Hong Kong and presents a unique opportunity for investors and end users all over to buy high quality real estate in the Mumbai Metropolitan Region at attractive values.
The customer application window opened on 27th June and completed applications will be accepted until 5th July. Lodha Developers has planned a self-contained development of smart-sized 1 and 2 bedroom residences in 28+ storied elegant towers. Besides the lucrative location, key highlights of the masterplan include 80% open spaces, world-class landscaping and prices starting at Rs. 55 lakhs only. The most unique aspect about the project is that it caters to a large untapped market of mid-segment luxury home buyers, who are looking for the right product, location and price point especially within this region. The location has gained popularity in the recent times for multiple reasons, especially its scenic beauty, and better social and hard infrastructure.
Speaking on the success, Abhinandan Lodha, Deputy Managing Director of Lodha Developers said, “We are extremely pleased that we have received over 1,500 applications on Day 1 itself. It shows the confidence that purchasers have in our developments and our brand, and we look forward to this growing interest so that the maximum number of people can take advantage of this great opportunity. Thane is at the cusp of exponential growth and one of the hottest investment destinations in Mumbai today. A self-sustaining metropolis, its population has grown by 117% in the last five years alone and continues to grow by almost 10% annually. The government’s planned focus on making significant improvements in the region denotes Thane’s importance towards sustaining growth in the country. The area enjoys good connectivity and premium developments at an ideal price point as compared to neighbouring districts, all of which make Thane attractive from both a liveability and an investment perspective. Our development is well located on Kolshet Road and in close proximity to prominent schools, hospitals, parks and business centres. The strong initial response for the project shows the robust demand and confidence in Thane’s growth story.”
The development is gearing up to be a big-bang opportunity with applications being accepted through a unique IPO styled process- the first ever from Lodha Group in the Affordable-luxury category. Allotment will be done via an automated algorithm on a first-come-first-served basis and customers have the option to apply online on the company’s website, at the dedicated Application Centre in Thane, or through any registered channel partner. More details are available at
http://www.lodhagroup.com/lodhacodenamebigbang. The project will feature a mega clubhouse spread over 25,000 sq ft, an international standard football ground, cricket field and a plethora of lifestyle amenities.
About Lodha Developers Pvt Ltd
Established in 1980, privately held Lodha Developers is India’s largest real estate developer and amongst the world’s select multinational real estate brands with a presence in India and the UK. It is one of the most profitable players in India with net sales of INR 7,790 Cr for FY 14-15 alone.
Source: Lodha Developers Pvt Ltd