DPIL to start construction in Lavasa city after NCLT approval

Mumbai-based Darwin Platform Infrastructure Ltd (DPIL), which won the bid for Lavasa city in December, told the media that the construction would begin only after National Company Law Tribunal (NCLT) approval.

Darwin Platform Group of Companies Group CEO Raja Roy Choudhary told the media that there would be a proposed payment schedule as per the resolution once the certificate of clearance is received.

All settlements related to corporate insolvency, resolution process, property delivery, operational creditors, secure financial creditors, and homebuyers will be done within the ambit of the process. The breakup cannot be disclosed once the NCLT approval is received. The clearance is expected to come by June, and then there will be a proposed payment schedule according to the resolution, he said.

According to Choudhary, the group will invite people to invest in various domains in Lavasa.

After Gujarat International Financial Tec-City (GIFT City), Lavasa Smart City is likely to host campuses of reputed foreign universities. The interest shown by four reputed Universities from the USA has driven realty prices at Lavasa northward.

Choudhury said institutions like Brandeis University, University of Wisconsin, University of Dallas, and Northeastern Illinois University have shown immense interest in establishing a base in India because of the student potential we have for international degrees.

Discussions are also going on with institutions in the UK and Israel in the area of liberal arts and high-tech education, and very soon announcements will be made. There has been a lot of talk in the real estate market with prices rising high with such international interest in Lavasa Smart City, said Choudhury.

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Also read: Darwin Platform wins for Lavasa Corporation resolution bid