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TheStreet Open House

Lodha Group Receives 2X Oversubscription Within Hours Of Opening Of The Pre-bid For The South-Mumbai Worli Super Luxurious Residential Project

MUMBAI, January 18, 2013 /PRNewswire/ --

  • World-class luxurious family amenities spread over 75,000 sq.mtrs with a private central park of 25,000 sq.mtrs
  • Spectacular 2, 3 and 4 bed residences 'outlay USD 0.6 Million onwards
  • First come first served, pre-bid submissions may be made by downloading the application from the link

Lodha Group's luxury residential development, Codename Blue Moon at Worli saw an unprecedented response with more than 1000 applications within the first 3 hours of opening the application window this morning. This is almost 2x (2 times) the no. of units which are on offer. This level of unprecedented success is making the company consider the release of fresh inventory to take care of more demand expected over the next 9 days.

Codename Blue Moon is planned for development on the 75,000 sq.mtrs parcel that Lodha recently acquired from DLF at ~USD 500 Million, making it the largest real estate transaction last year. It is understood that the development will have a 25,000 sq.mtrs park, making it the largest private garden landscape in South Mumbai. The design is being done by a Singapore based architecture firm.

The project has used a distinctive sales model where applications were invited from prospective customers stating their preference of configuration, floor band and ticket sizes. The allocations will be made using an automated allotment process, ensuring a very objective mechanism which is fair to all. Such a model is being used for the first time in luxury real estate, and is sure to change the way in which real estate is sold.

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