City Lights

HDIL to enter south Mumbai by March

MUMBAI: Realty major Housing Development and Infrastructure (HDIL),a leading player in suburban Mumbai,said it has firmed-up plans to enter the lucrative south Mumbai market by launching up to five projects there by March next. The company will kick-off with the development of its 6,000 sq metre plot at Worli in the next few months,its managing director Sarang Wadhawan told reporters here on the sidelines of a news conference. HDIL has lined up up to five projects in South Mumbai with 8-10-million square feet of built-up space for launch by March,the managing director said.

ej launches its Mangalore project

MANGALORE: Realty major and Godrej group company,Godrej Properties,has announced the launch of its first project in Mangalore called Godrej Avalon. Located on the fast developing Airport Road,the project is spread over 6 acres and will have a saleable area of over 6 lakh sq ft,a press release issued here by the company stated. The site is strategically located in Mangalores growth corridor with the airport and the city centre located at a distance of about 12 kilometres and 5 kilometres,respectively. Godrej Avalon is designed as a high-end residential project and will have three 23-storey towers offering 3-and-4 BHK luxurious apartments with panoramic views of the city,the surrounding valley and the sea.

Oberoi Realty launches Exquisite

MUMBAI: Oberoi Realty Limited has launched Oberoi Exquisite,a premium Luxury project. It is spread across almost 32 acres of land. The project comprises of three towers of 45 storeys each in Oberoi Garden City at Goregoan (East). The price of the 3 BHK tower consists of more than Rs 2 crores. The development has a total saleable area of approximately 13.7 lakh sq ft. The larger 3 BHK apartments in Luxury and Grande configuration are of 1,690 sq ft and 1,820 sq ft respectively. The project will be completed in a span of four years. Oberoi Exquisite offers a complete lifestyle experience with world class infrastructure which includes parking area for over 1,400 cars.

Lodha raises Rs 5 bn via project stake sale

MUMBAI: Lodha Developers has raised Rs 5 bn by selling a 10 per cent stake in a project to develop a 117-storey residential tower in Mumbai to HDFC Venture Funds,according to a report. The report stated that other investors include GIC,Temasek and Abu Dhabi Investment Authority. The deal puts the valuation of the project at Rs 50 bn,two-and-a-half times its estimated cost,says news report.