Lodha sells 2000 flats during pre-launch
Realty player Lodha Group has claimed to have sold 2,000 flats worth Rs 1,600 crore at its township project in the Thane district during its pre-launch phase.
The group received interest from over 3,000 home buyers across India to book flats during the pre-launch phase and it sold nearly 2,000 flats worth Rs 1,600 crore, the city-based company said in a statement.
“The project has not only created super normal demand in a highly competitive market such as Thane but has also revived its real estate landscape by reinforcing people’s trust towards appreciation
and investment in real estate,” company’s Chief Sales Officer Prashant Bindal said.
Lodha acquired the property admeasuring 87 acres from Clariant for Rs 1,154 crore in December, 2014. The company has proposed to develop 3,500 apartments of 1 and 2 BHK housed in 27-30 storeyed towers.
e-auction of Bengaluru project
Property portal Magicbricks.com has tied up with Bengaluru’s Birla Apple Aroma to pre-launch its properties via its newly launched e-auction platform.
As part of the auction, buyers get a chance to bid for properties of Birla Apple Aroma at rates lower than usual pre-launch rates. Only 48 properties are available for auctions, so only the highest bidders for these units will get to own the property.
Pre-launch prices are usually pre-set by builders. In this case, the promoters have a ‘reserve price’ of Rs 4050 per sq ft, which is lower than the intended pre-launch price and the auction model will allow consumers to bid for prices at or above this reserve price. The intent is to allow consumers to participate in the price-discovery at the time of pre-launch and make this process fair and transparent to consumers.
Through this platform, consumers can register themselves to bid for a property. Bids are binding and therefore, registration as a bidder requires to remit a refundable deposit of Rs 5000. The registration is open from March 10 to 20. Users can make & modify bids in this period also. Commenting on the tie-up Sudhir Pai, CEO, Magicbricks.com, said, “Auctions as a process brings in much-needed transparency into the pre-launch sales process. This would also throw up successful allottees in a transparent manner.” — Agencies
Godrej Properties eyes Rs 700-cr revenue from new project
Realty firm Godrej Properties expects a sales revenue of about Rs 700 crore from the second phase of its luxury housing project at Vikhroli in Mumbai launched last week The company, which is real estate arm of the Godrej Group, had in November last launched the first phase of its housing project 'The Trees' comprising 374 units.
“We have launched the second phase of The Trees comprising 256 apartments. We got a very good response for the first phase with 95 per cent of the total unit already being sold,” Godrej Properties MD and CEO Pirojsha Godrej told PTI.
Asked about the expected sales realisation, he said: “the revenue potential of the second phase of Trees is about Rs 700 crore”. He hoped that the company would sell a "good part" of the second phase of the project in this fiscal only.
‘The Trees’ is a mixed used development project, spread over 34 acres, which houses Godrej One, the Godrej Group's global headquarters.
It would have residential, commercial, a 5-star luxury hotel, cultural buildings and a high street retail park. Asked about the plans for the Noida market where the company has recently forayed partnering with local developer Lotus Greens, Godrej said the project would be launched in the next fiscal after getting the necessary approvals.
