Lodha group says it sold flats worth Rs 500cr in 9 days in World One tower

Nearly 75 per cent of the civil construction has been completed. The project is expected to be completed in 2016.

hidden December 10, 2014 08:41:39 IST
Lodha group says it sold flats worth Rs 500cr in 9 days in World One tower

Mumbai: Premium realty player Lodha Grouphas registered bookings to the tune of over Rs 500 crore for an ultra luxurious residential project in the metropolis,three years after it was reopened for booking on 29 November.

The company's iconic 117-storey project, `World One Tower' and located in south-central Mumbai.

"After three years, bookings have reopened for a limited window. Despite challenging environment, we have received record bookings of around Rs 500 crore from 29 November to date," Lodha Group Managing Director Abhisheck Lodha said.

The bookings will close on December 14. Nearly 75 per cent of the civil construction has been completed. The project is expected to be completed in 2016.

Lodha had announced the project in 2010. Initially, the Directorate General of Civil Aviation (DGCA) had opposed the project, citing security concerns.

"But 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," he said.

The Mumbai-based realty major is developing 3 and 4 BHK apartments, which are likely to fetch in the upwards of Rs 70,000-80,000 per sq ft. Lodha is also developing two other towers - World View and World Crest - on the land parcel spread over 17.5 acres.

PTI

Updated Date:

also read

Elin Hilderbrand to retire from writing beach reads in 2024, says 'coming to natural end of my material'
Arts & Culture

Elin Hilderbrand to retire from writing beach reads in 2024, says 'coming to natural end of my material'

Hilderbrand, whose past books include 28 Summers, The Identicals and Here’s to Us have become a summertime staple, with cover art featuring an idyllic beach scene and stories set in and around the Massachusetts island of Nantucket, where she lives.

Book excerpt: In The Heartbeat of Trees, Peter Wohlleben explores communication between humans and trees
Arts & Culture

Book excerpt: In The Heartbeat of Trees, Peter Wohlleben explores communication between humans and trees

The book, with the aid of the latest scientific research, shows how deeply humans are connected to the natural world.

Filthy Animals: Brandon Taylor chronicles identity, desperation for human connection with a gentle style
Arts & Culture

Filthy Animals: Brandon Taylor chronicles identity, desperation for human connection with a gentle style

The stories feel almost like slices of life, but the every day is heightened by the intensity of the characters’ longing, desire, anger and, above all else, passion.