| Hoardings around Mumbai spotted in the last week reveal appetiser-sized snips of information about the upcoming Lodha Developers' residential property. Fancy a Poggenpohl kitchen? A spa in your back garden? A "sky garden" on every fourth floor? |
| If you're tempted, there is an SMS enquiry number provided. But don't assume just expressing interest will get you in. According to Abhishek Lodha, director, Lodha Group of Companies, your eligibility will be screened. |
| The "chosen" residents will tower above the rest. Literally. Upon completion, in the second quarter of 2009, Lodha Bellissimo, at 729 feet and 50 liveable storeys, will be the tallest residential building in the city with the first residence starting only at the eighth floor. |
| "You need that kind of height to capture the views," says Lodha. In this case, the Arabian Sea and the Mahalakshmi race course. |
| Lodha diverts conversation away from the structure towards the key baits. Ninety-four per cent of the plot, he proclaims, is reserved for open spaces "" a cricket ground, swimming pools, a barbecue area, tennis court and spa "" facilities until now quite alien to space-starved south Mumbai. |
| That's set to change with the sale of the five significant NTC (National Textile Corporation) Mill lands last year. |
| Lodha Developers, with currently about 50-lakh sq ft under development in Mumbai, scooped up the 7.5 acre Apollo Mills property in Chinchpokli for Rs 180 crore. "Recreational facilities offered by all of these new mill land developments will become very standard," says a property agent not wishing to be named. |
| The agent adds, "Each of these builders has to recover their investments on land through the development of high-end residential properties." |
| And passing on the buck they are. A 2,400 sq ft flat at Bellissimo commands a starting price (a limited time offer, Lodha adds) of Rs 12,500 per sq ft, versus standard rates of Rs 6,500-8,000 per sq ft in neighbouring Parel. |
| Most developers attempt to maximise sales prices by spending more on kitchens and bathrooms (Italian marble is their favourite extravagance). Lodha promises more. |
| Biometric finger print ID systems for residents, a robust, automated security authorisation system for visitors, sun decks for every bedroom, a 500 sq ft suspended garden for every four floors "" and the piece de resistance, automated home-control systems by Clipsal Schneider that allow owners to control appliances, lighting and even their curtains all through a single central gateway. |
| Wait, there's more. If you're planning a romantic dinner on your way home, there's help at hand. Call your gateway from the mobile and set the remote control that draws the blinds, turns on Frank Sinatra and perfects the room temperature. You buy the appliances; the automation service comes with purchase of the flat. |
| "The buyer is aware that in the end he is paying for all the so-called extras," says real estate consultant Sunil Bajaj. One assumes the luxury is in having someone else present it to you in a ready-to-use format. This makes you feel like you haven't been charged for these added features. |
| "The luxury is also in the attention to detail," adds Lodha. Like the 11.5 ft ceilings instead of the standard 9.5 ft, the security system that sets off an SMS warning if there is a break-in, and even a secured door separating the servant's area and the rest of the house. |
| A number of these flats have supposedly been booked and the construction begins next week. "It's not difficult to sell 188 luxury flats in Mumbai today, people have the money, they're looking for quality," says Lodha. |
| As developers go all out to build an air of exclusivity around their high-end properties, there is some debate about how "exclusive" a development is when you share the tag of privilege with 200-250 others. |
| Also, the current level of infrastructure (roads and drainage) in Parel and surrounding areas will groan under the influx of residents the new developments will bring in. |
| But with the scarcity (artificial or not) of "quality" apartments in South Mumbai, buyers might not care. If you're looking to spend a few crore rupees, sit by your phone next week. You could be on that list. |
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