Aishwarya Rai endorses Lodha's Worli project

New Delhi: Mumbai-based Lodha group has roped in actor and former Miss World Aishwarya Rai Bachchan as brand ambassador for its 17.5-acre premium project ‘The Park' in central Mumbai's Worli. Besides associating with the project,
aishwarya rai endorses lodha s worli project -...
India TV News Desk 23 Aug 2013, 11:42 AM IST
New Delhi: Mumbai-based Lodha group has roped in actor and former Miss World Aishwarya Rai Bachchan as brand ambassador for its 17.5-acre premium project ‘The Park' in central Mumbai's Worli.



Besides associating with the project, the actor has also bought a 4-bedroom apartment in the project for more than Rs 5 crore.

Lodha is planning to build high rises, town house, luxury retail and a few bungalows on the plot. The location is located at the start of the Golden Mile – a mix of the most premium residential and commercial developments.

The developer had earlier done a soft launch of the same project under the codename Blue Moon in January. But now it has announced the master plan for the entire project.

The project with total development potential of 4 million sq ft will be developed over the next 5-7 years. Lodha had bought the land parcel from DLF in 2012 for around Rs 2,725 crore.

The real estate developer has already tasted success in the project by selling 700 apartments under two towers with apartments priced between Rs 5.5 to Rs 6 crore. The buyers were selected through a lottery system.

Abhisheck Lodha, MD, Lodha Group said the the number of the sold apartments are worth Rs 3000 crore and they are mainly bought by the NRIs (30 per cent).

He said 'The Park' will offer an ideal urban lifestyle, one that is currently not possible in Mumbai. The Park will be a fully-integrated community with a choice of playgrounds and a tree house for children, a retail plaza, concierge services, a range of gourmet dining options to choose from, a magnificent clubhouse framed with hanging gardens and trees, and India's first Evander Holyfield gym.

He said the company will invest around $1 billion into the project and expects revenues to the tune of Rs 18,000 crore.
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