Lodha Codename: Bluemoon - 2, 3 and 4 BHK apartments next to Shri Simadhar Jain Temple, Pandurang Bhudkar Marg, Worli, Mumbai 400018 by Lodha Group
Largest Luxury Residential Development in South Mumbai - Worli
An 18 acre development with a 6 acre central park with quiet retreats of soothing and refreshing gardens, picnic spots to relax and unwind, which is a rare luxury in this fast spaced mega-polis.
Architecture Designed by WOHA, Singapore. Spectacular Landscapes by P. Landscapes, Thailand
Pursuit of Receration, Pursuit of Friendship, Pursuit of Sports
- Mega Club-house with world class gymnasium, jacuzzi, covered heated swimming pool and a world class spa.
- Challenge your friends to a game of tennis, basket-ball, volley-ball, badminton or squash.
- For all of those who love the outdoors, there is a jogging track, a cricket pitch and open air seat outs.
- Hone your golf skills on the putting green.
- Let your kids have a blast in a dedicated kids play area with world class facilities, smart games inspired by GoGo Bambini, Singapore.
- Entertain your guests in a lavish banquet hall, gourmet restaurants, cinema, amphi-theatre.
- Service your international life style with a business center, library, concierge service, lounge with cafe and a convenience store.
Specifications:
- Full height french windows.
- Fully air-conditioned residences with imported marble flooring.
- Duravit and Laufen sanitary-ware.
- Grohe / Gessi fittings, four fixture master bathroom.
- A fully fitted German - Bulthaup Kitchen in Select residences.
- Multi-level Security
Apartment Sizes & Price
- 2 BHK : 1368 sq. ft built up
- 3 BHK : 1674 sq. ft built up
- Price: 23,391/- per sq. ft + Floor Rise : Rs. 90/-
- 3 BHK (Luxe) : 1998 sq. ft built up - 2043 sq. ft built up
- 4 BHK : 2286 sq. ft built up - 2349 sq. ft built up
- Price: 24,471/- per sq. ft + Floor Rise : Rs. 90/-
- Construction Linked Payment Schedule.
Mumbai-based Lodha Group to use an innovative IPO allotment-like automated algorithm system to sell apartments at its latest 17.5 acre premium project Lodha Blue Moon at Lower Parel in central Mumbai.
This type of draws to sell residential apartments is nothing new and government agencies like MHADA and DDA have done it for years in the past. But this is for the first time that a private builder has adopted this strategy, and in this case, for high-end premium apartments.
Unlike earlier projects, Lodha is not charging any premium for a specific view and therefore also not promising one. Based on the buyers' application, the system will be given inputs like typology, floor preference and most importantly, the ticket price range.
Based on these inputs, the automated pre-programmed algorithm system will allot an apartment to a buyer. "We are making this a very open and transparent process. There won't be any different rate and terms for any customer. The pricing is almost 45-50% lower than the ticket price for any three or four-bedroom apartments available in the vicinity. We hope to get a solid response to our offering," said Abhisheck Lodha, managing director of Lodha Group.
When asked if there's a possibility of more investors entering the project other than just end users, Lodha clarified that the buyer won't be allowed to sell an apartment until the possession formalities are over. In the backdrop of a sluggish scenario in realty market, developers are pulling all stops to improve sales volumes.
According to property consultants, given the large size of the Mumbai Textile Mills plot, Lodha is getting the flexibility to use volume strategy even in the luxury product segment.
The proposed project Blue Moon is coming up on Mumbai Textile Mills plot that Lodha recently acquired from DLFBSE -0.36 % for Rs 2,725 crore. The builder is currently launching two towers out of a total six that are planned on this plot.
The offer will remain open from January 18 to January 27 for prospective customers. Under this launch, customers can bid for four typologies covering 2-bedroom spread over around 1,370 sq ft, 3-bedroom of 1,670 sq ft and 2,000 sq ft size and 4-bedroom of around 2,300 sq ft.
The special prelaunch pricing for a 2-bedroom apartment will start at around Rs 3.5 crore, a 3-bedroom flat for around Rs 4.5 crore, while a 4-bedroom for Rs 6.75 crore.
Around 500 apartments will be launched under this offering and Lodha expects total bookings of nearlyRs 3,000 crore though this first phase. Certain special limited apartments will not be released in this offer, he added.
Construction of the project has already started and Lodha expects it to be delivered by 2017. According to property consultants, Lodha's pricing is very aggressive compared with other projects in central Mumbai, especially Lower Parel and Worli and the ticket sizes are nearly similar to those currently offered in suburbs like Andheri and Vile Parle.
"It will be interesting to check the exact response to the product later. If it turns out to be a successful launch, given the aggressive pricing and new approach, the offering is likely to change the way projects are developed and sold," said a property consultant. Lodha is confident that when the launch starts at around April 2013, prices will be at least 25% higher than the pre-launch prices offered now.
