India’s Lodha Developers needs Rs. 2,000 crore for starting project

India’s Lodha Developers needs Rs. 2,000 crore for starting projectThe premium residential project to be started by Lodha Developers needs a capital expenditure of Rs. 2,000 crore.

Known as the Lodha World Place, this is supposed to be the world's tallest residential building. And it is going to be set up in Mumbai.

The money thus required will be fulfilled by an internal accrual system and also pre-launch sales systems. The option of private equity funding has not been negated as well. There were also plans of coming out with an IPO, but the company later postponed it after looking at the cold response given to other IPOs.

World Place, says Lodha Developers, will be adding Rs. 10,000 to Rs. 15, 000 crore to the top line of the company.

Each flat is expected to be sold for Rs. 7-7.5 crore and the building will have three towers which will be full of these flats. The tallest tower will have 2 and 3 BHK flats besides villas and mansions.

The 3-4 BHK flats will be made in between the 7-41 floors and the total carpet area would be 3,420-3,465 sq ft. This means that per sq ft price will be Rs. 22,000-24,000 and an additional 180 sq ft will be charged.