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Homebuyers Lap Up L&T Realty’s Upcoming Navi Mumbai Project



Homebuyers Lap Up L&T Realty’s Upcoming Navi Mumbai Project

L&T Realty’s upcoming project in Navi Mumbai receives 1,800 applications from homebuyers for the first 500 units on offer

L&T Realty’s upcoming real estate project located in Navi Mumbai is estimated to fetch the company a revenue of Rs 3,200 crore. An official working for the company confirmed the news. “Bookings for the phase-1 of the project have finished and we are looking at revenues of around Rs 3,200 crore, once completed,” a company official said.

The project, located near the Seawoods Darave railway station, will be spread across 10 acres. It will be India’s maiden transit-oriented development. The project has a development potential of 1.5 million square feet and is slated to be developed in a phased manner.

The project’s first phase has already gotten approximately 1,800 booking applications for the 500 residences on offer. This is nothing short of good news in a market which is plagued by uncertainty. L&T Realty’s managing director and chief executive Shrikant Joshi confirmed the news. “The project has received an unprecedented response from the customers, brokers, corporate houses and international markets at a time when the market is muted,” Joshi said.

A channel partner activation drive was kickstarted by L&T Realty. 400 brokers responded and they are working to market the project.

According to Joshi, the reason for such a positive response from homebuyers can be linked to the location of the project which clubs a shopping mall and is connected with to the railway station via a pedestrian concourse. Seawoods also has many established corporate offices in the well-known office towers of Seawoods Grand Central. Seawoods railway station provides connectivity to Panvel, CBD Belapur, CSMT, Vadala Road, Thane, Andheri, Kharkopar and Nerul. This is also another reason why it is becoming hugely popular amongst homebuyers.

The project’s first phase will have five towers with 2 BHK and 3 BHK apartments. Phase 2 will comprise of three towers.


Source: Money Control

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