Ravi Karandeekar's Pune Real Estate Market News Blog: Lavasa

Showing posts with label Lavasa. Show all posts

Saturday, November 27, 2010

Lavasa will have to stop construction work immediately

1) Fault in leasing 141 hectares of MKVDC land at throwaway rates

2) Not paying the price of land to Maharashtra Government

3) Link to Union agriculture minister Sharad Pawar

4) Using Money Matters, a debt arranger at the heart of the scandal, for some property transactions and now,

5) Violation of environmental laws

The 31-storey Adarsh Housing Society building, which soars over the South Mumbai skyline as a symbol of corruption in India’s bodypolitic, will be razed.

Would you let Lavasa get away by paying a “hefty penalty”?

The Union environment ministry has issued a show-cause notice to Lavasa Corporation, which is constructing a 25,000-acre hill township near Pune, alleging myriad violation of environmental laws. The company, promoted by a clutch of investors led by Hindustan Construction Co, will have to stop construction work immediately.

The notice from the ministry continues a high-profile crackdown by Jairam Ramesh , the environment minister, on violators of India’s hitherto loosely-enforced environmental laws. The high-profile project, described as independent India’s first hill city, may get away by paying a “hefty penalty” according to sources in the environment ministry.
To read more, please, visit The Economic Times

TUESDAY, NOVEMBER 2, 2010

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Tuesday, November 2, 2010

Lavasa opens booking of Mugaon!

Mugaon at Lavasa Properties:
Studio Apartment, 1 BHK, 1.5 BHK, 2 BHK & 3 BHK Flats
Saleable area 500 sq ft to 2000 sq ft.

Mugaon at Lavasa - Property Rates:
Rs 3450 /- per sq ft for front view and Rs 3150 /- for rear view!

Housing finance from 1) HDFC Bank 2) Union Bank of India

Possession 24 months from the registration of agreement

Maintenance Rs. 3 per sq.ft. on saleable area

Mugaon, second town at a close distance from Dasve, first town, at Lavasa:

Mugaon at Lavasa

Mumbai to Lavasa

Mugaon at Lavasa - a residential, educational, business and commercial hub:

Lavasa - Mugaon Sales Brochure

View more presentations from lavasacommunity.

Views of Residential Lavasa:

Lavasa 1

Lavasa 2

Lavasa 3

Lavasa 4

Mugaon at Lavasa - Floor Plans of Studio Apartment, 1 BHK, 1.5 BHK, 2 BHK & 3 BHK Flats :

Lavasa Brochure:

Lavasa on Google Maps:

View Lavasa in a larger map

Mugaon at Lavasa - Contact for Bookings:

Mumbai Office: 022 - 4025 6000 (extn. Nos. 6211/6212/6214)

Lavasa Site Office: 020 - 6473 1020

Email: customerrelations@lavasa.com

Website: www.lavasa.com

1) TUESDAY, NOVEMBER 2, 2010

October 2010 - Most popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

76,856 Page Views from 1st to 30th October 2010 - According to Google Analytics

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Saturday, July 31, 2010

Lavasa to raise up to Rs 2,000 crore through an initial public offering (IPO)

Hindustan Construction Company (HCC) today said its arm Lavasa Corporation, would raise up to Rs 2,000 crore through an initial public offering.

The company’s board has approved the plan, making Lavasa the first township project in the country to go for an IPO. Though the company did not divulge how much stake it would dilute and when it would tap the markets, analyst reports said the issue could happen in October-November.

HCC holds 65 per cent in Lavasa through its wholly-owned subsidiary, HCC Real Estate. Eight banks, including Bank of India, Axis Bank, ICICI Bank and financial institutions, have 11 per cent stake in Lavasa, through convertible debentures. Avantha Group, Venkateshwara Hatcheries and some private investors hold the remaining equity.

Lavasa’s revenue rose 94 per cent to Rs 181 crore during the June quarter, while net profit jumped 87 per cent to Rs 49 crore.

According to a report by Elara Securities, Lavasa Corporation has already sold 1,850 apartments and villas, spanning over 3.5 million square feet and is confident of handing over keys to buyers by March 2011.

To Read more, please, visit: business-standard

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Thursday, March 11, 2010

Can cities be manufactured?

While manicured urban dreams, Amby Valley and Lavasa, are attractive, they miss the energy that comes from the way people, work, fun and commerce enmesh into each other in cities like Mumbai and Pune.

Mumbai and Pune are overseeing the birth of two new cities growing in between their long, expressway-connected urban sprawl. These are Amby Valley and Lavasa. Both these urban dreams have been conceived in the mode of planned cities even though they have very different starting points.

One is an out and out imitation of American suburbia while the other uses very sophisticated rhetoric about new urbanism. The interesting thing is that they began with the idea of containing their membership, of controlling the process through which they would get users to come to the city, but may well land up eventually opening their doors. After all, no city in the world can afford to have gateways, no matter how exclusive the original intention.

The problem with cities that like to think of themselves in utopian terms ultimately find their unrealistic vision coming undone for three basic reasons – money, investment and sustainability

I wanted to share this story with you: http://digg.com/d31LET4?e

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Sunday, March 7, 2010

Lavasa Women’s Drive - Today, 1,200 women to take off in 300 cars at Bandra Reclamation Grounds in Mumbai for Lavasa

Bombay Times Women’s March initiative, supported by the Women’s Cancer Initiative — Tata Memorial Hospital to celebrate Women’s Day!

"Today the city of Lavasa will welcome the participants of the Lavasa Women Drive in celebration of the 100TH year of International Women's Day," the ad says. The 1,200 participants are from 43 countries. Ladies will drive, approximately 225 Kms, from Bandra Reclamation Grounds in Mumbai to Lavasa, to show their support for the cause of Cancer Prevention through Early Detection. And to prove that "women make good drivers too!" The day long event will have live performances, makeovers, treats.

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Saturday, January 23, 2010

Lavasa becomes architectural testing ground for the fashionable new “science” of biomimicry

A new architectural science that mimics nature: hope or hype?

It may not even be the most sensible endeavour, but it’s what HOK, an American design firm, and the Biomimicry Guild, a “consultancy for bio-inspired design”, have set out to do at Lavasa, billed as “Free India’s Largest Hill City”

It’s been tried in a few parts of the world, but on a much smaller scale. The Swiss Re building in London, designed by Lord Norman Foster, is modelled on the structure of a sea sponge, with gaps in each floor creating shafts that ventilate the building. The Eastgate Center in Zimbabwe uses ventilation structures similar to those found in termite mounds.

In India, however, the goal is much bigger; a “bio-inspired city” has never been attempted earlier.

The guiding principles of the new science are fairly straightforward. Nature knows best; the “greenest” constructions are those that emulate natural design. The Biomimicry Guild believes that the way to making the city sustainable is to emulate the processes and design strategies of the moist deciduous forests of the region, which they say are “locally attuned, benign, interdependent and optimized”.

Shuttling between Lavasa and offices in Mumbai and St Louis, the architects at HOK have been working frantically to translate those principles into practise. Biologists from the Biomimicry Guild have been flown in from across the world; and extensive three-way discussions held between the unlikely combination of biologists, architects and HCC site engineers.

To read more, please, visit livemint.com

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Friday, November 13, 2009

Sir Nick Faldo to create 18-hole championship golf course at Lavasa City

He has traveled jungles, surveyed forests, walked on seashores and traversed deserts and converted them into golf courses. Sir Nick Faldo, six-time Major winner on Thursday began a new venture of setting a golf course amidst Sahayadri mountain ranges in the backwaters of Panshet reservoir-the Lavasa Lake City.

"My first impression of this facility is spectacular and unbelievable. I hope I can create something as spectacular as this scenery is," Sir Nick said on his maiden visit to the Lake City where he will create 18-hole championship golf course on a 270 acre land. The golf course will be up and functional by 2013 on a playing area of roughly 150 acre as a cost of Rs 150 crore, informed Ajit Gulabchand, chairman of Lavasa Corporation.

Faldo shared his vision for the project. Having done close to 50 golf courses around the world in all continents, Faldo says it was his dream to set up one in India and when he saw the scenic beauty of Lavasa he decided to take up the challenge.

Two days ago he was at the Windsor Castle where the British Queen Elizabeth knighted him. Read More

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Monday, November 2, 2009

The Times of India and Lavasa launch the Lavasa Future Cities Campaign

To encourage citizens' active participation in making a city ‘‘liveable’’:

Click to Enlarge

If history has taught us one thing, it’s that great cities go beyond inspiring architecture and overwhelming skyscrapers. A well-networked transport system, green space and above all a planned township that provides its inhabitants that seemingly elusive quality of life are the hallmarks of a vibrant metropolis.

All this and much more can only become reality if citizens are involved in the planning of their home. And as citizens’ groups and infrastructure experts debate any city’s upcoming development plan with municipal authorities, they argue that a long-term proposal for a city can hardly succeed unless it involves local participation at each level.

In other words, it’s the people whose active participation defines the pulse of a city, not just urban planners and government bodies. Going one step ahead, private players who are in the business of infrastructure and real estate across Maharashtra and beyond say that public-private partnership also works best for urban planning and making a city ‘‘liveable’’.

In a bid to encourage such initiatives, The Times of India and Lavasa have launched the Lavasa Future Cities Campaign, www.lavasafuturecities.indiatimes.com an extensive programme that intends to kickstart a journey towards developing ‘‘future cities’’ in India

To read more, please, visit History inspires 'future cities'

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Sunday, October 25, 2009

Lavasa to raise Rs 2,000 crore through IPO next year

Lavasa Corporation, a subsidiary of Mumbai-based Hindustan Construction Company, plans to raise around Rs 2,000 crore through an initial public offering during the second half of next year.

Now, Lavasa near Pune has commenced laying infrastructure for the second phase of the project.

Lavasa aims at developing five 'towns' in the hill-station project and expects to sell commercial and residential space in the second town at a 15-20 per cent premium.

To read more, please, visit The Economic Times

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Tuesday, June 2, 2009

Lavasa rocks with protests

India's biggest lake city project planned on 12,500 acres in the outskirts of Pune by Lavasa Corporation has begun to rock on a different note.

Land acquisition from farmers and transparency-related issuesrelating to agreements signed by Lavasa with the state government have come into sharp focus. These issues are likely to become larger in the run up to the coming assembly elections.

Right to Information (RTI) crusaders and Magsaysay awardees such as Anna Hazare, Arvind Kejriwal, Aruna Roy and Medha Patkar are among those who have demanded an independent probe to set the record straight.

Driven by Lavasa Corporation, a subsidiary ofthe Mumbai-based HCC Real Estate Ltd., the project was in the limelight in the past due to its association with NCP chief Sharad Pawar's family and speedy clearances from Congress-NCP government.

The project has now begun to witness flashes of conflict between company officials and affected farmers led by National Alliance of People's Movement (NAPM) leader Medha Patkar and others.
To read more, please, visit - DNA: Mumbai

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Saturday, January 24, 2009

Lavasa to set up first space-themed park by 2010

Lavasa Corporation Ltd., a subsidiary of infrastructure major Hindustan Construction Company (HCC) is gearing up to offer the country its space-themed park, complete with a space camp, an aviation camp, fun rides demonstrating weightlessness, robotics, rocketry and even scuba diving near Pune. For this, the Company recently signed an agreement with Dubai-based Space Investment Company an investment of Rs 400 crore.

The space-themed park will be named SpaceWorld, the 65-acre park will come up near Warasgaon Dam at Lavasa Hill City, near Pune.

The park will be operational in 2010. SpaceWorld India will have educational programmes prepared with inputs from representatives of National Aeronautics and Space Administration (NASA) and veteran astronauts. It will also draw upon the Dubai firm's US partner and license, the United States Space and Rocket Centre.

“As India takes giant steps with its space exploration programme, we expect SpaceWorld at Lavasa to provide a lifetime experience that will fascinate researchers, students, tourists, both adults and children alike,” said Ajit Gulabchand, Chairman, Lavasa Corp.

It will have an entertainment area for live communication with the International Space Station, and lectures by astronauts and simulation of various missions.
Travel Biz Monitor

Hindustan Construction Company surprises market expectations negatively with its performance in the December 2008 quarter

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Friday, January 2, 2009

Hindustan Construction Company advances phase-II development of Lavasa

Buoyed by the Phase-I success, Hindustan Construction Company has started work on the second phase development of its hill-station destination Lavasa to triple the number of residential units, even as it plans to open ITC Fortune hotel within the project this month.

'Phase II development was initially planned to commence in 2010. However, looking at the positive response from the market, the company has advanced its plans and has already started work on infrastructure development for the second phase,' a senior HCC official told PTI.

A majority of the 1,400 apartments and villas in the first phase were sold in the current calendar year, a period when the real estate and housing sector witnessed lower demand.

4,000 Apartments and Villas:

The second phase will include around five million square feet development over next three to four years which will take the number of apartments and villas in the project from 1,400 in the first phase to 4,000 units at the end of the next phase.

2,000 Hotel rooms:

The hotel occupancy capacity of 1,000 rooms will also double to 2,000 over the next three to four years.

60-room ITC Fortune hotel:

The company will also hand over the ITC Fortune hotel to the hotel management for launch this month. The 60-room property will be the first full fledged three star hotel to commence its operation in the 12,500-acre hill-station.

Currently Lavasa Corporation runs a 20-room 'Ekaant' retreat.

Transport hub:

It also plans to start operating a transport hub in the second phase which will link Lavasa with major cities through alternative road routes.

13,000 Students:

HCC would also take student base in the educational institutions in Lavasa to 13,000 from 10,000 planned in the current phase.

Conceived as India's first post-independence hill town, Lavasa surrounds 20 sq km Varasgaon lake near Pune in Maharashtra.

The Rs 40,000-crore project would have a total of four phases of development to be completed by 2020.

HCC Real Estate, a subsidiary of HCC, owns 60 per cent of Lavasa.

The project has already tied up with Symbiosis to develop an educational campus, a UK-based IB school, Ecole htelire de Lausanne (EHL) for setting up a hospitality learning centre and Apollo Hospitals to develop a world-class health and wellness centre.

To read more, please, visit - tradingmarkets

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Sunday, December 14, 2008

Lavasa - bookings for the 2nd phase to open in the coming festive season

(Property rates would not be less than the 1st phase!)

"Lavasa overcame the tremendous temptation to hike prices when the going was good. Bookings for the second phase would begin in the coming festive season and it would not be priced below that of the first phase, where villas were sold at Rs 2,750-3,500 a sq ft and apartments Rs 2,450-3,000 a sq ft," says Mr Rajgopal Nogja, President, Lavasa Corporation.

In times, when real estate developers are facing a fund crunch, the promoters of Lavasa say they have tied up close to 1,000 crore

Spread across 11 villages, comprising 25,000 acres, Lavasa's development has been curbed to 12, 500 acres to preserve the pristine picturesque environs of the Sahayadri Mountain.

The real estate exposure is anchored to the needs of hospitality, education, entertainment, leisure and tourism. The outlook is that the town is to attract half a million visitors by next fall and 20 lakh tourists annually, with a permanent population of 1.5 lakh, a decade later.

The residential area of villas and studio apartments will total to about 40,000 units, of which office space will account for 10 per cent. Eighteen hotels with 4,000-4,500 room have been planned.

Serviced apartments are slotted for opening sometime next year. Lavasa has six hotels under development including properties managed by hotel chains Accor and ITC Group, with a combined capacity of about 1,000 rooms. A convention centre with a plenary capacity of 1,500 people will be ready next year and an ITC hotel is slated for opening in a couple of months.

The company is in talks with a three biotech multinationals to set up their research there. A 200-acre health and wellness centre, including hospital, R&D and long-term care of Apollo Hospitals would be up and running in 2010. Lavasa has a 49 per cent stake in it, with land forming a major component.
To read more, please, visit - The Hindu Business Line

A modern township nestled in the Sahyadris

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Saturday, October 25, 2008

Hindustan Construction Company’s upcoming townships in Pune, Nashik and Thane on hold

Given the current turmoil in the market and subsequent impact on real estate, Hindustan Construction Company has decided to put on hold its planned townships in Pune, Nasik and Thane. Land acquisitions for these projects have been deferred for now given the high interest rates and low liquidity in the market.

HCC will focus more on government projects in power and water sectors and will look to bid for PPP projects with caution.

Ajit Gulabchand, chairman and managing director, HCC, said while the Lavasa and IT park in Mumbai is on schedule, the company has decided to go slow on the township projects in Pune, Nasik and Thane given the current market environment. to read more, please, visit - India Real Estate Monitor

Saturday, November 27, 2010

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Tuesday, November 2, 2010

Mugaon at Lavasa Properties: Studio Apartment, 1 BHK, 1.5 BHK, 2 BHK & 3 BHK Flats Saleable area 500 sq ft to 2000 sq ft.

Mugaon at Lavasa - Property Rates: Rs 3450 /- per sq ft for front view and Rs 3150 /- for rear view!

Housing finance from 1) HDFC Bank 2) Union Bank of India

Possession 24 months from the registration of agreement

Maintenance Rs. 3 per sq.ft. on saleable area

Mugaon, second town at a close distance from Dasve, first town, at Lavasa:

Mugaon at Lavasa - a residential, educational, business and commercial hub:

Views of Residential Lavasa:

Mugaon at Lavasa - Floor Plans of Studio Apartment, 1 BHK, 1.5 BHK, 2 BHK & 3 BHK Flats :

Lavasa Brochure:

Lavasa on Google Maps:

Mugaon at Lavasa - Contact for Bookings:

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Saturday, July 31, 2010

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Thursday, March 11, 2010

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Sunday, March 7, 2010

Bombay Times Women’s March initiative, supported by the Women’s Cancer Initiative — Tata Memorial Hospital to celebrate Women’s Day!

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Saturday, January 23, 2010

A new architectural science that mimics nature: hope or hype?

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Friday, November 13, 2009

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Monday, November 2, 2009

To encourage citizens' active participation in making a city ‘‘liveable’’:

Related Stories:

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Sunday, October 25, 2009

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Tuesday, June 2, 2009

India's biggest lake city project planned on 12,500 acres in the outskirts of Pune by Lavasa Corporation has begun to rock on a different note.

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Saturday, January 24, 2009

Related Story:

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Friday, January 2, 2009

Buoyed by the Phase-I success, Hindustan Construction Company has started work on the second phase development of its hill-station destination Lavasa to triple the number of residential units, even as it plans to open ITC Fortune hotel within the project this month.

4,000 Apartments and Villas:

2,000 Hotel rooms:

60-room ITC Fortune hotel:

Transport hub:

13,000 Students:

Related Stories:

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Sunday, December 14, 2008

(Property rates would not be less than the 1st phase!)

In times, when real estate developers are facing a fund crunch, the promoters of Lavasa say they have tied up close to 1,000 crore

Related Story:

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Saturday, October 25, 2008

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Mugaon at Lavasa Properties:
Studio Apartment, 1 BHK, 1.5 BHK, 2 BHK & 3 BHK Flats
Saleable area 500 sq ft to 2000 sq ft.

Mugaon at Lavasa - Property Rates:
Rs 3450 /- per sq ft for front view and Rs 3150 /- for rear view!