The Lodha Group, a Mumbai-based realty player, has decided to enter the Hyderabad market with an estimated investment plan worth Rs 800-crore.

The company plans to build a project christened ‘by Invitation’ to focus on the ‘luxury’ market segment, which would be its first major initiative for the group outside Maharashtra.

Under the project, it would offer an individual tower of 45 floors, with each floor housing one apartment of roughly 5,000 sq ft to especially selected community. The project would be implemented in a joint venture with HDFC. 

The company quoted in a release that its objective is to identify educated, well-travelled, global Indians in the CXO category (CEO, CIO, CFO etc), and offer them the apartments.

About two months earlier, the group had acquired 12.9 acres of land for the project in a Government auction in Cyberabad area.