Upcoming project of Lodha gets overwhelming response
In today’s time when properties in Mumbai have less demand due to heavy property prices, Lodha Group got an overwhelming response for its upcoming project in the city.
The group has received around 1,300 applications from interested buyers for their upcoming project in Mumbai. The number which they have received is more than double the number of units up for sale.
As per a statement made by the company, they have sold 1,300 applications for the Blue Moon residential project at Worli in central part of the city gaining a revenue of around Rs 6,000 crore.
There are over 600 units in this project which cost around Rs 3.2 crore onwards. The plot on which this project is being developed has been recently acquired the land parcel from DLF at Rs 2,727 crore.
As per the company, such a response has been never heard of make Mumbai as one of the most robust and attractive real estate markets globally.
Around 30% of the applications received were from NRIs, while equal amount of applications came from other cities like Delhi, Ahmedabad, Kolkata, Hyderabad and Bangalore.
The projects will be allocated by using an automated allotment process, ensuring an objective mechanism which is fair. This use of process will be the first time in luxury real estate and will for sure change the business of real estate as it is done now.
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