Lodha launches new project in Worli

Lodha planning to build high rises, town house, luxury retail and a few bungalows on plot

After buying the 17 acre property from DLF for Rs 2,727 crore last year, Mumbai-based Lodha group today announced the launch of its project 'The Park' in Worli area of Mumbai.

Lodha is planning to build high rises, town house, luxury retail and a few bungalows on the plot. The company has already sold 700 apartments under two towers under the project, where apartments were priced between Rs 5.5 to Rs 6 crore. The buyers were selected on a lottery system.

Lodha is looking to invest Rs 5,000 crore in the project while it has not disclosed the sales revenues. The company is planning to build a 7 acre private park in the project.

The developers has roped in Bollywood actress Aishwarya Rai Bachchan as brand ambassador for the project.