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.
he 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.