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Lodha Group sells flats worth Rs 690 cr in Palava township

The group has sold over 1,350 homes in India's first privately developed smart city in Maharasthra

Press Trust of India  |  New Delhi 

A blueprint of Dholera Smart City
A blueprint of Dholera Smart City

According to a Press Trust of India report, the Mumbai-based realty firm, Lodha Group, has sold homes worth Rs 690 in the last 10 days in its township project at Palava.

The company said it has successfully pre-launched its project in Palava City by selling over 1,350 homes.

"In a period of just 10 days, Palava- India's first privately developed smart city- has sold homes worth Rs 690 crore," Lodha Group said.

The first phase, spreading over 275 acres and comprising 19,000 homes, has been delivered.

This new project, codenamed 'Golden Tomorrow', is part a development venture at Palava that is spread across an area of 4,500 acres and will include the establishment of 20 schools.

Established in 1980, the privately held Lodha Group clocked sales of over Rs 6,400 crore during last financial year.

The company is currently developing around 41 million sq ft of prime residential real estate with the largest land reserves in the Mumbai Metropolitan Region (MMR). It has 31 ongoing projects across London, MMR, Pune and Hyderabad.

Lodha Group delivered 3.3 crore sq ft of real estate during FY 2015-16.

First Published: Thu, October 13 2016. 15:58 IST