By Varun Singh

Lodha, has announced its expansion into the ultra-modern Mumbai suburb, Powai. With the launch of Lodha Bellagio, Lodha aims to bring desirable lifestyle for aspiring homebuyers in the neighborhood.

Powai has achieved the moniker of Mumbai’s most elite suburb and Lodha’s entry into  the location will allow the home-seekers in the area to leap towards their dream home and experience the finest  lifestyle. 

Renowned for building the world’s finest developments,  Lodha has created several iconic landmarks across the  globe, including No.1 Grosvenor Square London, Lodha  Altamount, The World Towers, among others. The brand  will now bring its most sought-after expertise in design,  construction, and service to Powai with a vision to expand  in one of Mumbai’s most prime residential locations.  Commenting on the expansion, Rajib Das, President – Eastern Suburbs and Navi Mumbai, Lodha, says, “Powai is  well-established and one of the preferred residential  locations in Mumbai. With Powai emerging as a thriving  market, we want to play a pivotal role in this journey of  aspiring homebuyers by bringing our expertise in  delivering the world’s finest developments and redefining  luxury living in the locality. We are looking forward to  fulfilling the requisites of the elite set of homebuyers in  the Powai market who are wishing to upgrade and are  looking for aspirational homes that are spacious, amidst  greenery, have world-class amenities, high-end services,  and are well-managed. With an aim to provide exclusive  luxurious living and unique experiences reserved for a rare  few, the project comes with limited inventories. The fast paced developments in the area certainly make Powai  quite inviting for potential homebuyers as well as  investors.”

Lodha Bellagio is located near the Hiranandani Hospital  and with direct access to the area’s magnificent  infrastructure. With its classical imperial architecture and  red brick façade, the project will provide impeccably  designed spacious residences with its very own corner  office, and large decks commanding

Lodha Bellagio has a host of facilities in the vicinity including top educational institutions like IIT Bombay, multiple  renowned schools, healthcare facilities like LH Hiranandani Hospital, retail hubs like Galleria, and  entertainment/recreational outlets like R-City Mall, Westin Hotel and Powai Lake; to name a few. Well connected  to Western Express Highway, Eastern Express Highway, JVLR, LBS Marg, and International Airport, the project will  also ensure smooth connectivity to the residents. 

Home to the corporate bigwigs and dynamic entrepreneurs, Powai is an inviting location for Mumbai’s elite to live  and work at one address, providing the perfect work-life balance. With rich European architecture, serene lakes  and greens, fine-dining restaurants, quaint cafes, great connectivity, and robust infrastructure, this cosmopolitan  neighborhood is a promising area that has the potential for providing a premium-luxury lifestyle to the luxury  patrons. 

Lodha Bellagio briefly: 

1. Spacious residences with decks & home  office 

2. Limited inventories 

3. 3 and 4 bed apartments  

4. 40,000 sq. ft. of open landscapes, greens & amenity spaces 

5. World class amenities: 

a. Rooftop lounge with scenic views  of the hills and Powai & Vihar  

Lake 

b. Swimming pools (25m lap pool &  kids’ pool) 

c. Grand clubhouse with: 

6. Gymnasium 

7. Library lounge and café 

8. Squash and badminton court 

9. Indoor games area with table tennis,  pool, carrom, chess, etc. 

10. Indoor play area for kids 

11. Best educational institutions, retail  stores, business hubs, medical facilities in  the vicinity 

12. Saint Amand curated residency &  hospitality services 

13. Well connected to Western Express  Highway, Eastern Express Highway, JVLR,  LBS Marg and International Airport 

Also Read: Lodha delivers 88% YoY growth in pre-sales with strongest ever Q2 performance

The post Lodha forays into Powai, with Lodha Bellagio appeared first on Square Feat India.

By Varun Singh

The nation wide lockdown, has impacted the real estate industry severely. The number of new launches, and even units sold has drastically reduced in the second quarter (Q2) of of 2020.

Mumbai Metropolitan Region, which comprises of a major chunk of real estate in the country, saw a severe downfall in sales and new launches.

According to ANAROCK Property Consultants, no new launches in MMR were recorded in the Q2 of 2020.

The situation was same in NCR, Hyderabad and Chennai in Q2 2020, with no new launches.

Bengaluru added approx. 590 units (in 2 projects) in Q2 2020, witnessing a yearly decline of 95% and quarterly by 93%.

Pune added approx. 750 units (in only one project) in Q2 2020 compared to 10,700 units in Q2 2019 and 7,800 units in Q1 2020 – a drop of 93% and 90% respectively.

Kolkata added only one project consisting of approx. 50 units in Q2 2020, declining by 98% on y-o-y basis and 95% over Q1 2020.

Anuj Puri, Chairman – ANAROCK Property Consultants says, “A massive drop in both new launches and housing sales were, of course, expected on the back of a complete lockdown for most of this quarter (Q2).”

MMR saw a major drop even in sales, it stood at 3,620 in Q2 2020, compared to 13,910 units sold in Q1 2020. A drastic drop of 74%.

Sales in Hyderabad decreased by 85% in a year – from 4,430 units in Q2 2019 to 660 units in Q2 2020. On a quarterly basis, sales declined by 75%. The city saw sales of approx. 2,680 in Q1 2020.

Pune and Kolkata witnessed a 79% yearly decline each, and a almost 70% quarterly decrease each in Q2 2020. Pune sold 2160 units and Kolkata 730 units in Q2 2020.

Approx. 2,990 units were sold in Bengaluru in Q2 2020, against 13,150 units a year ago and 8,630 units in the preceding quarter of Q1 2020. The y-o-y decline was 77% and Q-o-Q was 65%.

Puri added, “Interestingly, MMR – one of the most COVID-19-affected cities – witnessed maximum housing sales of nearly 3,620 units among all cities, followed by Bengaluru with approx. 2,990 units. Technology adoption has played a big role in housing sales of late, with many developers now strengthening their digital sales capabilities.”

Things do not look good for the sector, even when the first half of 2020 is compared with he second half of 2019.

In H1 of 2020 only 17,530 units were sold in MMR. The figure was 35,500 in H2 of 2019, a clear 51% drop in sales in H1 2020.

In H1 of 2019, the number of units sold in MMR stood at 45,370. When compared with H1 2020 it was a 61% drop.

Even new launches in the first half of 2020 in MMR declined, it came down to 10,490 units compared to 28,100 launched in H2 of 2019. A drop of 54%.

All the new launches in the first half of 2020 in MMR are from Q1 2020, as there were no launches in Q2 2020.

Also Read: Registration revenue in Mumbai touch Rs 179 Cr mark highest in 3 months

The post MMR saw ‘Zero’ new launches in Q2 of 2020 appeared first on Square Feat India.