Lodha returns to Pune housing market with a 400-unit premium project

24 Aug 2021 CW Team

Lodha Group, a Mumbai-based real estate firm, is returning to the Pune market with an initial 400-unit premium project in the city's south, hoping to profit from the premium housing boom and historically low-interest rates.

It is the Lodha Group's second project in Pune and its return to the local market after the luxury Belmondo project in Gahunje nearly a decade ago.

The project, which has yet to be named, is being built in the NIBM area, and they are collaborating with another city-based real estate firm on it. The first phase of the project, which will include 25 storey-high towers, is expected to cost up to Rs 700 crore. According to Lodha, construction will begin in the next six weeks, with completion expected in three years.

The Lodha Group, also known as Macrotech Developers (formerly Lodha Developers), is an Indian real estate company based in Mumbai. Mangal Prabhat Lodha founded it in 1980.

In Mumbai, Thane, Hyderabad, Pune, and London, it has built residential and commercial properties. Lodha Altamount, The World Towers, Lodha Bellissimo, Trump Tower Mumbai, and Lodha Park are just a few of the company's notable projects. Palava, an integrated smart city near Mumbai, is also credited to the company. On 19 April 2021, the company was renamed, Macrotech Developers.

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Also read: Tata Realty plans to invest Rs 4,000 cr in real estate business

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