How Lodha Developers’ $750M Mumbai residential project was ‘over-subscribed’ within hours | VCCircle
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How Lodha Developers’ $750M Mumbai residential project was ‘over-subscribed’ within hours

BY  Pooja Sarkar
The response to the luxury project in the financial capital shows market appetite despite a contrarian perception; but analysts say it is a punt by agents.

Is the Mumbai real estate market headed for big revival or is it a one-off incidence where fence-sitters and agents have jumped in to lap up a big-budget luxury project within hours of opening for pre-booking? Whatever the final verdict, the overbooking of Lodha Developers’ luxury residential project worth Rs 4,000 crore within hours of opening for ‘subscription’ does signal a positive undercurrent in the Mumbai property market.

Most analysts observe that the project has seen revival of agents punting in a market, rather than end-consumers buying the 700 flats on offer from the Lodha project, codenamed Blue Moon. But...

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