Even though the city of Mumbai in the last 9-12 months has seen some slowdown for the real estate industry, Abhinandan Lodha, deputy managing director, Lodha Developers is confident of growth for his organisation.
According to him the new 4000 acre Lodha Palava City project would garner a bottom-line of around Rs 600 crore every year, over the next 5-6 years and a total of around Rs 4000-4800 crore, over 8 years after paying all the taxes.
Lodha Palava City is a 4000 acre township located in suburban Mumbai. Out of that 250 acres have been developed and sold which has over 20,000 units exist. They are now developing 650 acres and expect to have 1 lac units by 2025. Current pricing ranges from 40 lakhs to 60 lakhs for 1 to 3 BHK.
The company has grown by around 27 percent as compared to last year both in terms of topline and bottomline. Current debt for the company stands at Rs 5600 crore, which is fully serviced by internal accruals, said Lodha. The Lodha Group has absolute ambitious plans to make the city a dream for each Indian.
Lodha group has not left any stone unturned to ensure that they have a huge success to Palava City. Lodha Palava City is world’s finest Town Planning Companies, Architects and Professionals who have studied the development across the globe.
This project will give an average of 60 to 90% returns to the Investors and Home Buyers across a time frame of 5 years plus. With a staggered payment approach and Bank Funding there is no other project available with a ticket size of 40 Lakhs plus to match the infrastructure with this project.
With Mr Bachchan being the Brand Ambassador, it brings the added confidence to the home buyers and investors who have grown up seeing the Shehenshah of Bollywood and with him being the First Citizen would mean a lot to them. In an Industry First move, the Lodha Group has signed in Mr Amitabh Bachchan as the First Citizen of the Palava City, the New City for the New Generation developed by the Lodha Group.