September 20, 2014 - Lodha Palava
Lodha Palava City Price
Lodha Palava has been an investor’s haven for quite some years now. Lodha Group started with Casa Bella in March, 2009. In the next two years, Lodha Group expanded the project with Casa Bella Gold, Casa Rio and Casa Rio Gold. All these are township projects within Palava City. The price in Casa Bella in 2009 was 1800 per square feet. A person with 13 lakh rupees could buy a 1 BHK flat in Palava at that time.
Slowly, the rates of the property increased and it started giving returns to investors. Lodha Group has given 33% year on year returns to its investor’s in Palava City. The flat which costs 13 lakhs in 2009 has increased in value and is now 45 lakhs as on September, 2014. Currently the rates in Lakeshore Greens, Palava City is around 5800 per square feet.
Lodha Group will open up new sector during the festive season of Diwali. The prices for the new sector will be little less than the current prices. All those who wanted to invest in Palava, but couldn’t buy due to price factor can book a flat at that time.
Lodha Group has projected that the rates in Palava City will shoot up to 7000-8000 in the next 2 years that is by 2016. Various infrastructure projects near Dombivali will further increase the rated. Government of Maharashtra has lined many projects exclusively for Palava. Some of the projects are Ghatkopar-Ghansoli link road, Airoli Dombivali tunnel project, Monorail from Kharghar to Kalyan, local train service on Virar-Diva-Panvel line, international airport in Navi Mumbai.
Once these projects are completed it will reduce the travelling distance from Palava to parts Thane, Navi Mumbai and Mumbai.
By the end of 2016, Lakeshore Greens will be completed in Phase 2 of Palava City and by 2018 Lodha Group plans to complete the entire Phase 2. This will also increase the rates in Palava City. Already the investors are getting a much higher rate of return from phase 1 of Palava City.
In ten years time from now, Palava City will on the likes of South Mumbai. The rates of South Mumbai is around 30,000 to 80,000 per square feet as of now. But it is stagnant for the past couple of years as there is no major development going on in South Mumbai. In couple of years from now, Palava City can match South Mumbai rate’s given the vast development going in Palava.