Status Under construction Location Lower Parel
Mumbai Start date September 2013 | Type Luxury Residential Developer Lodha Group Architecture firm WOHA | |
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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.
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Developer
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.
Location
The Park is located on the Pandurang Budhkar Marg in Lower Parel. 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.
Project launch
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. 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. A launch was then spread across Dubai and in 6 Indian cities Mumbai, Delhi, Kolkata, Pune, Ahmedabad and Surat. There was an interest from overseas buyers and applications to book property were received from NRI’s in the UAE and USA.
Project Plan
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. 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. 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, which Lodha Group plans to construct with Donald Trump's Trump Organization after signing a brand licensing deal in Aug 2014.