Home Buyers rush to Lodha Developers’ IPO style pre-launch in Prime Central Thane

India Infoline News Service | Mumbai | June 30, 2015 14:41 IST

Lodha Developers, the largest real estate developer in the country, has opened bookings for the pre-launch of its latest development – a world class neighbourhood spread over 88 acres in Prime Central Thane. Over 1,500 applications were received on Day 1 of the IPO-style application process, which is a new innovation in real estate, building upon the process commonly used in the equity markets. The ‘issue’ was pre-launched simultaneously across the globe including in India, New York, Singapore and Hong Kong. The issue presents a unique opportunity for investors and end users all over India and the world to buy high quality real estate in Mumbai Metropolitan Region at attractive values.
The customer application window opened on 27th June and completed applications will be accepted until 5th July. Lodha Developers has planned a self contained development of smart sized 1 and 2 bedroom residences in 28+ storied elegant towers. Besides the lucrative location, key highlights of the masterplan include 80% open spaces, world-class landscaping and prices that start at Rs. 55 lacs only. The most unique aspect about the project is that it caters to a large untapped market of mid-segment luxury home buyers, who are looking for the right product, location and price point especially within this region. The location has gained popularity in the recent times for multiple reasons, especially its scenic beauty, better social and hard infrastructure.
Speaking on the success, Abhinandan Lodha, Deputy Managing Director of Lodha Developers said, “We are extremely pleased that we have received over 1,500 applications on Day 1 itself. It shows the confidence that purchasers have in our developments and our brand and we look forward to this interest growing so that maximum number of people can take advantage of this great opportunity. Thane is at the cusp of exponential growth and one of the hottest investment destinations in Mumbai today. A self sustaining metropolis, its population has grown by 117% in the last five years alone and continues to grow by almost 10% annually. The government’s planned focus on making significant improvements in the region denotes Thane’s importance towards sustaining growth in the country. The area enjoys good connectivity and premium developments at an ideal price point as compared to neighbouring districts, all of which make Thane attractive from both a liveability and an investment perspective. Our development is well located on Kolshet Road and in close proximity to prominent schools, hospitals, parks and business centres. The strong initial response for the project shows the robust demand and confidence in Thane’s growth story.”
The development is gearing up to be a big-bang opportunity with applications being accepted through a unique IPO styled process– the first ever from Lodha Group in the Affordable-luxury category. Allotment will be done via an automated algorithm on a first-come-first-serve basis and customers have the option to apply online on the company’s website, at the dedicated Application Centre in Thane, or through any registered channel partner. More details are available on www.lodhagroup.com/lodhacodenamebigbang
The project will feature a mega clubhouse spread over 25,000 sqft, an international standard football ground, cricket field and a plethora of lifestyle amenities.