~The truly affordable housing brand had a successful year and continues to see great momentum~
Mumbai, October 02, 2020: Lodha Group, India's largest real estate developers, clocks sales of over 2500 units from its affordable brand CROWN in a span of one year. Since its launch, both CROWN projects situated in Thane & Taloja have received an overwhelming response from homebuyers selling over 80% of its launch inventories in Thane & 60% of its launch inventories in Taloja. The projects have collectively witnessed great response since launch, which is a testament to the growing desire for world-class housing with differentiated offerings proposition at affordable price-points. This coupled with the recent Covid-19 outbreak and reinstating the importance of home-ownership also acted as a catalyst to rapid business growth for CROWN.
As a trademark of building the world's finest development, projects under CROWN by Lodha have been continuously delivering the best living experience with excellent design, world-class amenities, well-connected locations and a complete social ecosystem in affordable prices. The Thane project has sold about 888 units in FY 19-20 with a revenue of INR 444 Crores, whereas CROWN Taloja has sold 1127 units with a revenue of INR 347 Crores. Despite the pandemic outbreak and its impact this year, the CROWN brand continued with the same momentum accumulating combined revenue close to 240 crores.
Speaking about the business, Prashant Bindal, Chief Sales Officer, Lodha Group said, "Today, home buyers are aspiring a home at a desirable location with essential amenities in a preferable budget. At Lodha, we have always aimed at catering to changing consumer requirements. As we successfully step in the first year anniversary of Crown, we are seeing an upsurge in demand for integrated offerings at a great location with world-class facilities at affordable prices. People are looking forth to lead a secured, convenient life with no compromises, and CROWN just makes these requisites easily accessible to much larger group of homebuyers at budget-friendly plans.”
As the largest real estate player, Lodha has observed a noticeable shift in consumer preferences. Safety and comfort is the top priority for every consumers, but there is also considerable shift towards homes within developments that offer open spaces & amenities in the affordable segment. Keeping in lines with our honourable Prime Minister's vision of ‘Housing for All’, CROWN has been delivering high quality homes at convenient locations and affordable prices, making Lodha a significant contributor towards Indian real estate market’s development in affordable segments since the past few quarters.