Lodha Group, the leading Real estate developer

Lodha Group, the leading real estate developer, seels Rs 500 crore worth flats in just 9days for an ultra luxurious residential project in the metropolis, as the projects was reopened for booking after three years on November 29.

Project: World One Tower

World One Tower is the iconic project of company, which is 117 storeys and located in south-central Mumbai. In Mumbai 3BHk and 4BHk apartments are in trend, which is likely to fetch in the upwards of Rs 70,000-80,000 per sq ft. Lodha Group is also developing the two towers known as World Crest and World View, spread on over an area of 17.5 acres.

Current Status of the Project:

As of now nearly 75 per cent of the civil construction has been completed and it is expected that till 2016 project will be completed as the project was announced in 2010. Nearly 75 per cent of the civil construction has been completed.

Initially, DGCA (Directorate General of Civil Aviation) had opposed the project because of security concerns. According to Managing Director Abhishek Lodha, “After three years first time booking have reopened for a limited window which was from November 29 2014 to December 14, 2014. Despite challenging environment, we have received record bookings of around Rs 500 crore in limited window”. The more he added that “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,”