MUMBAI: Indiabulls Real Estate, through its subsidiary Citra Developers, on Tuesday outbid Gammon India to acquire 134 acres of land in Dombivili belonging to auto major Pal Peugeot, for Rs 676 crore. Gammon’s bid was reportedly for Rs 675 crore.
On Tuesday, the Bombay High Court receiver conducted the auction after the court on March 4, clarified points pertaining to future liabilities of Pal Peugeot, paving the way for the auction. Apart from Indiabulls and Gammon, local firms such as Rohan Developers also participated in the auction.
When contacted, an Indiabulls spokesperson did not offer any comments on its development plans. According to industry experts, the deal would give Indiabulls access to 1.5 crore square foot of saleable land if the company opts for a mixed use integrated township kind of project that would take at least 4 to 5 years to complete.
134 x 25 fl. bld.'s with 2 bhk for Rs. 1 Cr., that would be the most optimal turn-around on this parcel with lots of land to spare for public/pvt. use.
However, if the height was varied between 40-60 even 75 or higher floors; Indiabulls can do some real magic. Hell, with a landmark project here it can ... Ib will do well anyways. With gr8 infra. like highways, metro and new train's (meaning bijli/pani/road=infrastructure) coming up it's going to be sweet for Thane.
Mumbai side, even in outlying areas the thing is - You build it, they'll come!
The gov. did it in China, Mumbai side it's all pvt. builders and therefore the problem.
Pvt. builder's are even now thinking narrow mind, short term, max. profit, right now.
Mumbai is gateway to India and India is not regressing to old times anymore, builder's should get over their Papa's thinking of 'cut-&-run' speculation. I have hopes from the foreign educated, new gen. builder sons taking over from their dying fly-by-night operations type father's of the bad old Socialist days.
For eg., I'd be happy to see 1/2 dozen builder's come together to re-build or do a new project to reflect India's huge scale. This 1-off building nonsense is just not for Indian cities. Need scale.
a question?Names Borivalli, daharavi etc. Do bombay names mean anything?
Eg theres a villiage near here called 'temple cloud'.Another 'godmanstone' plus others less esoteric.
Mumbai-based real estate developer Lodha Group has launched its new 'Casa Univis' residential project for the middle-income group in neighbouring Thane. The group said that it would invest Rs 500-700 crore in the next 30 months for developing 26 residential towers of 18 to 27 stories and spread over 55 acres in the Mumbai suburb. Flat prices will start from Rs 10-50 lakh or Rs 2,997 per sq. ft.
"The project will lead to more opportunities to the MIG segment. We have selected Kapadia Architects, Mumbai, as our landscape designers," Abhisheck Lodha, Director, Lodha Group, told Projectmonitor. "Phase-I of the project will be complete within 18 months starting January 2009 and the overall timeframe of completion will be 30 months."
The size of two and three 3 BHK flats will be 1,000 sq. ft with a built-up area of 850-900 sq. ft. There are even select 1-BHK flats starting from 650 sq. ft.
Funds will be raised through bank loans and advance sale of houses. Lodha has estimated that Mumbai and its hinterland will annually need 170 million sq. ft of new residential space for the next 10 years.
Welcome to Thane's first high-rise residential township… Lodha Paradise. The township ushers in unprecedented luxury by introducing for the first time in Thane - select fully air-conditioned residences graced with elegant Italian marble floors.
Tastefully decorated entrance lobbies welcome you to the buildings. The Vaastu-compliant residences are luxuriant in beautifully designed contemporary spaces with sterling features. The living areas extend out to wide sundecks commanding spectacular views.
Set amid 72 acres of pristine natural environs, Lodha Paradise is far removed from the city's bustle and pollution. The air here is crisp and invigorating and you feel a liberating sense of space in the extensively green and sprawling surroundings.
This self-contained township features a Ganesha Temple, world class ICSE School, exquisite landscaped gardens, excellent sports & recreational facilities, Olympic-sized swimming pool, Creche/ Day-care center and an international shopping mall within its precincts.
Designed for the upwardly mobile, Lodha Paradise is Thane's finest residential development, celebrating unparalleled luxury amid the beautiful natural locale. Come and discover your own piece of paradise at Thane's premiere residential township -- Lodha Paradise!
Raj Metropolitan is a mixed-use development arcade that will include retail and commercial spaces apart from an international-class hotel. Located in fast growing city of Thane, Raj Metropolitan is abound with thoughtful planning and amenities making it ideal for small and medium scale enterprises.
Now Thane will stay in luxury. Courtesy, one of the finest luxury business hotel this side of town. Offering a sleek business ambience coupled with ultra-modern rooms. And adorned with a swimming pool, spacious banquet halls, world-class gym and understated elegance. This international standard hotel marks the arrival of Thane as an important hospitality destination. Housed in a magnificently designed premise adjacent to the commercial and retail complex, this hotel offers the best in terms of luxury that Thane can offer.
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