Realty developer Lodha Group has roped in actor and former Miss World Aishwarya Rai Bachchan as brand ambassador
for its 17.5-acre premium project The Park in central Mumbai's Worli.
Apart from being associated with the project as her latest assignment,
the actor has bought a 4-bedroom apartment in the project for more than
Rs 5 crore. The developer had earlier done a soft launch of the same project under codename Blue Moon in January. On Monday, Lodha unveiled the master plan for the entire project that will be developed around a landscape garden spread over 7 acres.
The project with total development potential of 4 million sq ft will be developed over the next 5-7 years. Lodha had bought the land parcel from DLF in 2012 for around Rs 2,725 crore.
"We sold apartments worth Rs 3,500 crore during our pre-launch offer for the first two towers. Around 30% of these buyers were NRIs. We expect around 20% of buyers in this entire project to be from this segment," said Abhisheck Lodha, MD, Lodha Group.
According to Lodha, the company realised around Rs 28,000 per sq ft through bookings launched for first two towers in January. The company is planning to invest around $1 billion for the entire development of the project that has total revenue potential of over Rs 18,000 crore, he said.
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