The Park (residential project)

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The Park
General information
Status Under construction
Type Luxury Residential
Location Lower Parel
Mumbai
Design and construction
Architect WOHA
Developer Lodha Group
Website
www.lodhagroup.com/the-park/

The Park is a new 17.5-acre residential project being developed by Lodha Group in the Lower Parel neighborhood of Mumbai, India. The land for the project has been purchased from DLF Limited in 2012 for Rs. 2800 Crore approximately.[1][2]

Developer[edit]

The Lodha Group is a real estate development company into residential and commercial construction projects in Mumbai, Pune and Hyderabad. They are the developers of World One, a residential skyscraper under construction in Mumbai, set to become the tallest residential tower in the world upon completion.[3]

Location[edit]

The Park is located on the Pandurang Budhkar Marg in Lower Parel.[4] Bandra Kurla Complex and Nariman Point the Mumbai business districts is in close proximity. High Street Phoenix, shopping malls and PVR Cinemas are with in a driving distance.[5]

Project launch[edit]

In September, the real estate company announced that Aishwarya Rai Bachchan is the brand ambassador for this project. It has also been reported that the actress has bought a 4-BHK residence in the project worth more than INR 5 Cr.[6] After a billion dollar pre-launch, Lodha Group launched The Park project in September and it got bookings worth INR 2500 Cr on Day 1.[7] A launch was then spread across Dubai and in 6 Indian cities Mumbai, Delhi, Kolkata, Pune, Ahmedabad and Surat.[8] There was an interest from overseas buyers and applications to book property were received from NRI’s in the UAE and USA.[9]

Project Plan[edit]

The Park is planned to include premium residential and commercial developments, the deluxe hotels, luxury retail malls, entertainment hubs and a range of gourmet options. The project plan includes 7 acres of green landscapes set on top of a 70 feet tall ‘hill’ which is Inspired by the urban parks around the world.[10] This project will generate more than 5,000 direct jobs, including 1,000 white collar jobs like those of architects, engineers and interior designers. This large development will also support more than 10,000 indirect jobs in allied industries like cement, steel, tiles, cables, etc. Once The Park is completed, it will give rise to over 500 full-time jobs in the areas of facility management, housekeeping, horticulture and retail.[11] The project would be integrating Evander Holyfield gym within the complex. 'Trump Tower Mumbai' which is 800 feet high tower with three and four bedroom apartments is part of the project,[12][13] which Lodha Group plans to construct with Donald Trump's Trump Organization after signing a brand licensing deal in Aug 2014.[14]

See also[edit]

References[edit]

  1. ^ DLF to sell its 17.5-acre land in Mumbai's Lower Parel to Lodha Group for Rs 2,800 crore, Economic Times, Jul 30, 2012.
  2. ^ Donald Trump back in Mumbai, this time with Lodha Group | Business Standard
  3. ^ Lodha group set to erect world's tallest residential tower, Business Standard, Jun 9, 2010.
  4. ^ "Lodha’s luxury housing project The Park unveiled". Hindu Business Line. 19 August 2013. Retrieved 4 December 2013. 
  5. ^ Unnikrishnan, S. (19 August 2013). "Lodha Group eyes central Mumbai for premium residential towers". Retrieved 7 December 2013. 
  6. ^ Aishwarya Rai to endorse Lodha’s Lower Parel project, Economic Times, Aug 20, 2013.
  7. ^ Parel-launch-receives-bookings-worth-Rs-2500cr-on-Day-1/articleshow/22281292.cms Lodha's new Lower Parel launch receives bookings worth Rs 2,500cr on Day 1 - The Times of India
  8. ^ parel-launch-gets-bookings-worth-rs25k-crday-1_943827.html "Lodha's Lower Parel launch gets bookings worth Rs2.5k cr on day 1" Check |url= value (help). 3 September 2013. Retrieved 7 December 2013. 
  9. ^ Parel-launch-gets-bookings-worth-rs25k-crday-1_943827.html "Lodha's Lower parel launch gets bookings worth Rs2.5k cr on day 1" Check |url= value (help). 3 September 2013. Retrieved 7 December 2013. 
  10. ^ "Lodha launches Mumbai's largest landscape, 'The Park'". India Infoline. 19 August 2013. Retrieved 7 December 2013. 
  11. ^ Muzumdar, Jharna (21 August 2013). parel-264 "Lodha launches luxury housing project at Lower Parel" Check |url= value (help). Financial Chronicle. Retrieved 7 December 2013. 
  12. ^ "Donald Trump ties up with Lodha Group for Mumbai project". PTI. 17 September 2013. Retrieved 7 December 2013. 
  13. ^ "Trump, Lodha tie up for luxury housing project". Times of India. 17 September 2013. Retrieved 8 December 2013. 
  14. ^ "SC: Trump Joins Hands With Lodha". Bloomberg TV India. 

External links[edit]