The Lodha The Park seems like a corporate headquarter with its glass and metal façade from outside. This new residential project by Lodha is located at Pandurang Budhkar Marg in Mumbai. It features sales office spread over 10000 sq. ft. with glass walls having quotes by famous poets. At the office, almost every table has The Economist’s copy with ads of The Park, which barely has real estate ads based in India. After buying world-class 17 acre plot from the largest developer in India, DLF, for around Rs. 2727 Cr in August 2012, Lodha Group has done everything to the project to woo the home buyers. DLF has acquired the land for the project for Rs. 702 Cr. in 2005 from National Textiles Group.
The developer has planned to build 6 high rise towers of 75 storeys and 12 villas over 6-acre Park on 70 ft. high plot. According to Lodha, over 1350 apartments have been booked in three towers, while total 2300 applications were received. It definitely excludes 225 applications in Trump Tower, where apartments are planned to be priced from Rs. 8 Cr for 3BHK homes and Rs. 10 Cr. for 4BHK homes. The tower features 2BHK apartments ranging from 1305 sq. ft. priced at Rs. 24,471 per sq. ft. (Rs. 3.33 Cr) and 3BHK homes starting from 1539 sq. ft. ranging from Rs. 3.39 Cr. Lodha Group has tied up with Donald Trump, the US based real estate tycoon, who has launched high-rise complexes in Manhattan, for launching Trump Tower which stands in The Park, over 800 ft. tall.
The Tower is codenamed Gold Moon. The company has received 225 applications already for the Trump Towers during pre-launch. The construction is all set to be finished by 2018 for 77-storey Trump Tower. The tower is all set to be launched in January next year with US real estate tycoon, Donald Trump. The developer has planned to launch two more towers as well as 12 villa project in this land.
The core of the project is its six-acre park. The surrounding parks are known to have high value. This six acre park has been planned to surround residential towers. According to the developer, the project is going to have 6 swimming pools, including 30m swimming pool (known as the biggest in city), covered pool for ladies, 50000 sq. ft. clubhouse, fully fledged cricket ground, tennis court and various sports amenities. It features boxing ring by the leading boxer Evander Holyfield and dancing academy by Sandip Soparkar. These are some of the added attractions in this project.
Lodha The Park Worli Mumbai Group has spent around 3 times more money on advertising and marketing than on any other project, such as the World Tower, which is one of the tallest residential developments being built in the vicinity. The group has also promoted its project in GQ and Fortune. The Park has a lot of firsts in Central Mumbai. Two towers were pre-launched this January on first come first serve basis where buyers had to submit application within two weeks with a price quote.
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