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Over 1000 buyers line up for Lodha's project of 650 flats

Alpha and Gamma projects have 2, 3 & 4 bedroom-apartments start from Rs3.2 crore

Yogini Joglekar  |  Mumbai 

Lodha Group’s residential development, 'Codename Blue Moon' at Worli received more than 1000 applications representing Rs. 4000 Crores of sales from customers. The complex has about 650 flats up for sale.

The residential development will be built on an 18 acre land, out of which 6 acre land will be allocated for a park alone. This 18 acre land was recently acquired by Lodha from DLF for Rs. 2727 crore making it the largest real estate transaction last year.

The complex will be designed by a Singapore based architecture firm.

Lodha Group invited applications from customers stating their preference of configuration, floor band and ticket sizes. The allocations will be made using an automated allotment process.

The current pre-launch consists of two projects, codenamed Alpha and Gamma which will have two, three and four bedroom-apartments starting from Rs. 3.2 crore. The pricing looks lucrative as one can get a 2/3 bedroom-flat in Andheri or Goregaon also for the same price. However, one can also get a resale two bedroom-apartment in the range of Rs. 2.5 to 3 crores in an area like Lower parel.

gThis will help a whole new generation of people who have so far not been able to participate in this market to live and work in South Mumbai”, said Mr R Karthik, CMO, Lodha Group.

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First Published: Fri, January 18 2013. 17:27 IST