Lodha Group goes for smaller and affordable flats
The real estate developer Lodha Group goes for smaller and affordable flats due to the slow sales in Mumbai.
Due to the sluggish demand, Lodha Group is planning to sell its upcoming premium residential project on a first-come-first-serve basis in Worli, Mumbai. The project is centrally located and well connected.
Lodha group will start distributing applications along with a prospectus on the project from January 7. The application need to filled by the home buyers and submit it by the third week of January.
The project will have two, three and four bedroom apartments. Lodha Group will be disclosing the price on January 16.
In the Lower Parel area, Lodha was quoting a price of Rs 8.5 crore for a 3,000 sq ft basic apartment in World Crest, hence the real estate consultants are expecting the company to keep the price of a 2BHK apartment at around Rs 3.5 crore and keep the unit sizes to be less than 1,000 sq ft for a 2BHK apartment.
These days, in South Mumbai 2BHK apartments will not be available for Rs 3 crores. The price of 2BHK apartment in Goregaon and Jogeshwari is for Rs 2.5 crores.
Recently, Lodha had bought a plot from DLF, for Rs 2,727 crores. Lodha named the project as ‘ Blue Moon’ which will have around 2,000 apartments. According to sources, the company is planning to choose home buyers using algorithm based system.
The buyers will have to give options in terms of floor size, configurations and so on.
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