26 January 2015

In Mumbai, the 'it' place is Worli

Worli, located at the entry to South Mumbai, is emerging as the preferred luxury district of Mumbai. Property development The Park, located at this central hub clocked over Rs250 crores in a single weekend, said developer Lodha Group.

Source: Lodha Group. Mrs Aishwarya Rai Bachchan, future President and Brand Ambassador for The Park, a 17-acre residential investment by the Lodha Group.

According to Lodha, Worli has become hub for business with many offices and conglomerates headquartered in the area. There are also a number of luxury hotels in Worli, including the Palladium Hotel, and the Four Seasons, as well as shopping areas such as the Phoenix Mills and Palladium mall. 

Abhinandan Lodha, Deputy Managing Director of the Lodha Group said, "Mumbai desperately needs a world class live-work-play destination, which is easily accessible from all parts of the city. Worli enjoys great connectivity with Malabar Hill and Nariman Point as well as Bandra and the airport. With the focus of the government on making significant improvements in the investment climate in Maharashtra, we expect that Worli will become the hub to showcase how Mumbai can offer a world-class mixed use location."

Shveta Jain, Executive Director, Residential Services, Cushman & Wakefield added, "The area has outrun our expectations for 2014 and we expect decent returns in terms of market lease rates as well as capital gain rates year on year."