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Coordinates: 19°10′05″N 73°04′26″E / 19.168°N 73.074°E / 19.168; 73.074
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'''Palava''' is an integrated [[smart city]] located near [[Dombivli]] in Maharashtra state. It is developed by real estate developer [[Lodha Group]] and is built on a 4,500-acre land located between [[Thane]], [[Navi Mumbai]] and [[Kalyan]].<ref>{{Cite web |url=https://businesswireindia.com/news/fulldetails/palava-introduces-9dx-give-customers-glimpse-their-life-at-indias-no1-liveable-city/61643 |title=Archived copy |access-date=27 February 2019 |archive-url=https://web.archive.org/web/20190227182008/https://businesswireindia.com/news/fulldetails/palava-introduces-9dx-give-customers-glimpse-their-life-at-indias-no1-liveable-city/61643 |archive-date=27 February 2019 |url-status=dead }}</ref><ref>{{cite web|url=https://www.palava.in/residential|title=Palava City Offers Residential Spaces with World-Class Amenities|website=www.palava.in}}</ref> Palava City is also referred to as the City of Opportunity.<ref>{{cite web|url=https://www.indiainfoline.com/article/news-top-story/lodha-launches-‘palava’-the-city-of-opportunity-114020502072_1.html|title=Lodha launches ‘Palava’- The City of Opportunity|website=www.indiainfoline.com}}</ref> It was listed as India's No.1 [[smart city]] by [[Jones Lang LaSalle]] India's proprietary research report.<ref>{{cite web|url=https://zeenews.india.com/real-estate/palava-city-navi-mumbai-mohali-top-emerging-cities-jll-2045699.html|title=Palava City, Navi Mumbai, Mohali top emerging cities: JLL|date=26 September 2017|website=Zee News}}</ref><ref>{{cite web|url=https://www.financialexpress.com/industry/lodha-groups-palava-ranked-indias-no-1-city-to-live-in-by-jones-lang-lasalle/849446/|title=Lodha Group’s Palava ranked India’s No. 1 City to Live In by Jones Lang LaSalle|date=10 September 2017|publisher=}}</ref>
'''Palava''' is an integrated [[smart city]] located near [[Dombivli]] in Maharashtra state. It is developed by real estate developer [[Lodha]] and is built on a 4,500-acre land located between [[Thane]], [[Navi Mumbai]] and [[Kalyan]].<ref>{{Cite web |url=https://businesswireindia.com/news/fulldetails/palava-introduces-9dx-give-customers-glimpse-their-life-at-indias-no1-liveable-city/61643 |title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City |access-date=27 February 2019 |archive-url=https://web.archive.org/web/20190227182008/https://businesswireindia.com/news/fulldetails/palava-introduces-9dx-give-customers-glimpse-their-life-at-indias-no1-liveable-city/61643 |archive-date=27 February 2019 |url-status=dead }}</ref><ref>{{cite web|url=https://www.palava.in/residential|title=Palava City Offers Residential Spaces with World-Class Amenities|website=www.palava.in}}</ref> Palava City is also referred to as the City of Opportunity.<ref>{{cite web|url=https://www.indiainfoline.com/article/news-top-story/lodha-launches-‘palava’-the-city-of-opportunity-114020502072_1.html|title=Lodha launches 'Palava'- The City of Opportunity|website=www.indiainfoline.com}}</ref> It was listed as India's No.1 [[smart city]] by [[Jones Lang LaSalle]] India's proprietary research report.<ref>{{cite web|url=https://zeenews.india.com/real-estate/palava-city-navi-mumbai-mohali-top-emerging-cities-jll-2045699.html|title=Palava City, Navi Mumbai, Mohali top emerging cities: JLL|date=26 September 2017|website=Zee News}}</ref><ref>{{cite web|url=https://www.financialexpress.com/industry/lodha-groups-palava-ranked-indias-no-1-city-to-live-in-by-jones-lang-lasalle/849446/|title=Lodha Group's Palava ranked India's No. 1 City to Live In by Jones Lang LaSalle|date=10 September 2017|publisher=}}</ref>


==Development==
==Development==
The first phase of Palava City, spread over approximately {{convert|300|acres}}, was completed in 2016. By 2016, the company had sold 1,350 homes worth {{INR|690 crore}} within the township of Palava.<ref>{{cite web|url=https://zeenews.india.com/business/realestate/latest-news/lodha-group-sells-flats-worth-rs-690-crore-in-palava-township_1939552.html|title=Lodha Group sells flats worth Rs 690 crore in Palava township|date=13 October 2016|website=Zee News}}</ref>
The first phase of Palava City, spread over approximately {{convert|300|acres}}, was completed in 2016. By 2016, the company had sold 1,350 homes worth {{INR|690 crore}} within the township of Palava.<ref>{{cite web|url=https://zeenews.india.com/business/realestate/latest-news/lodha-group-sells-flats-worth-rs-690-crore-in-palava-township_1939552.html|title=Lodha Group sells flats worth Rs 690 crore in Palava township|date=13 October 2016|website=Zee News}}</ref>
The handover of 18,026 units to the customers was completed by December 2017. The second phase of the development began in 2014.<ref>{{cite web|url=https://www.magzter.com/news/394/635/012019/aqh82|title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India’s No.1 Liveable City|website=www.magzter.com}}</ref><ref>{{cite web|url=https://article.wn.com/view/2019/01/25/Palava_Introduces_9DX_to_Give_Customers_a_Glimpse_of_Their_L/|title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India’s No.1 Liveable City|website=article.wn.com|language=en|access-date=2019-02-27}}</ref><ref>{{cite web|url=http://www.ptinews.com/pressrelease/33460_press-subPalava-Introduces-9DX-to-Give-Customers-a-Glimpse-of-Their-Life-at-India-s-No-1-Liveable-City |title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India’s No.1 Liveable City - Press Trust of India |publisher=Ptinews.com |date=2017-12-31 |accessdate=2019-03-11}}</ref>
The handover of 18,026 units to the customers was completed by December 2017. The second phase of the development began in 2014.<ref>{{cite web|url=https://www.magzter.com/news/394/635/012019/aqh82|title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City|website=www.magzter.com}}</ref><ref>{{cite web|url=https://article.wn.com/view/2019/01/25/Palava_Introduces_9DX_to_Give_Customers_a_Glimpse_of_Their_L/|title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City|website=article.wn.com|language=en|access-date=2019-02-27}}</ref><ref>{{cite web|url=http://www.ptinews.com/pressrelease/33460_press-subPalava-Introduces-9DX-to-Give-Customers-a-Glimpse-of-Their-Life-at-India-s-No-1-Liveable-City |title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City - Press Trust of India |publisher=Ptinews.com |date=2017-12-31 |accessdate=2019-03-11}}</ref>


The entire project is expected to be completed over 4 phases by the year 2025.<ref>{{cite web|url=https://zeenews.india.com/business/realestate/latest-news/lodha-set-to-launch-2nd-phase-of-mega-city-project-in-mumbai_92313.html|title=Lodha set to launch 2nd phase of mega city project in Mumbai|date=2014-01-09|website=Zee News|language=en|access-date=2019-02-27}}</ref>
The entire project is expected to be completed over 4 phases by the year 2025.<ref>{{cite web|url=https://zeenews.india.com/business/realestate/latest-news/lodha-set-to-launch-2nd-phase-of-mega-city-project-in-mumbai_92313.html|title=Lodha set to launch 2nd phase of mega city project in Mumbai|date=2014-01-09|website=Zee News|language=en|access-date=2019-02-27}}</ref>


== Population ==
== Population ==
There are currently 2 lakh residents<ref>{{Cite web|date=2020-05-28|title=Mixed use developments to see an upsurge; Here’s why|url=https://www.financialexpress.com/money/integrated-townships-may-remain-a-preferred-choice-of-homebuyers-post-covid-19/1973810/|access-date=2020-08-24|website=The Financial Express|language=en-US}}</ref> in this city.
There are currently 2 lakh residents<ref>{{Cite web|date=2020-05-28|title=Mixed use developments to see an upsurge; Here's why|url=https://www.financialexpress.com/money/integrated-townships-may-remain-a-preferred-choice-of-homebuyers-post-covid-19/1973810/|access-date=2020-08-24|website=The Financial Express|language=en-US}}</ref> in this city.


==Finances==
==Finances==
Lodha Group received the approval to hit the capital market with an [[initial public offer]] (IPO) of about {{INR|5,500 crore}}. Upon the success of share sales, this would become the second biggest IPO in the real estate sector after [[DLF (company)|DLF]] that raised close to {{INR|9,200 crore}} in 2007.<ref>{{cite web|url=https://economictimes.indiatimes.com/industry/services/property-/-cstruction/lodha-may-raise-rs-700-cr-from-canadian-fund-cdpq-for-township-project-palava-city/articleshow/66869460.cms|title=Lodha may raise Rs 700 cr from Canadian fund CDPQ for township project Palava City|date=29 November 2018|publisher=|via=The Economic Times}}</ref> In early 2018, [[Kotak Mahindra Bank|Kotak]] Realty Fund, which had invested around {{INR|540 crore}} in Palava from its $400 million offshore fund exited with around {{INR|838 crore}}, at an IRR of 18%.<ref>{{cite web|url=https://www.livemint.com/Companies/9rVmOkIuwSMYB5OXuS5qrN/Kotak-Realty-Fund-exits-Lodhas-Palava-township-project-in-M.html|title=Kotak Realty Fund exits Lodha’s Palava township project in Mumbai|first=Madhurima|last=Nandy|date=9 March 2018|website=Mint}}</ref><ref>{{cite web|url=https://economictimes.indiatimes.com/markets/stocks/news/kotak-realty-fund-makes-rs-838-crore-exit-from-lodhas-palava-city/articleshow/63237026.cms|title=Kotak Realty Fund makes Rs 838 crore exit from Lodha’s Palava City|first=Kailash|last=Babar|date=9 March 2018|publisher=|via=The Economic Times}}</ref> As of 2019, [[Piramal Group#Piramal Enterprises|Piramal Enterprises Ltd]] (PEL) and [[Ivanhoé Cambridge]], a real estate subsidiary of [[Caisse de dépôt et placement du Québec]] (CDPQ) have made an equity investment of {{INR|500 crore}} in the project.<ref>{{cite web|url=https://www.livemint.com/Companies/ZZNzFe91wKANgptIeDhTtL/Lodha-to-launch-14000-crore-township-project-in-Mumbai.html|title=Lodha to launch `14,000 crore township project in Mumbai|first=|last=Unnikrishnan.S|date=9 January 2014|website=Mint}}</ref><ref>{{cite web|url=https://www.moneycontrol.com/news/business/piramal-canadian-fund-cdpq-invests-rs-500-cr-in-lodhas-palava-city-3485131.html|title=Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'|website=Moneycontrol}}</ref><ref>{{cite web|url=https://economictimes.indiatimes.com/markets/stocks/news/piramal-ivanhoe-cambridge-residential-equity-fund-invests-rs-500-crore-in-lodhas-palava/articleshow/67848328.cms|title=Piramal, Ivanhoe Cambridge Residential Equity Fund invest Rs 500 crore in Lodha’s Palava|first=Kailash|last=Babar|date=5 February 2019|publisher=|via=The Economic Times}}</ref><ref>{{cite web|url=http://www.dailyexcelsior.com/piramal-canadian-fund-cdpq-invests-rs-500-cr-in-lodhas-palava-city/|title=Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'|first=Daily|last=Excelsior|date=5 February 2019|publisher=}}</ref>
Lodha Group received the approval to hit the capital market with an [[initial public offer]] (IPO) of about {{INR|5,500 crore}}. Upon the success of share sales, this would become the second biggest IPO in the real estate sector after [[DLF (company)|DLF]] that raised close to {{INR|9,200 crore}} in 2007.<ref>{{cite web|url=https://economictimes.indiatimes.com/industry/services/property-/-cstruction/lodha-may-raise-rs-700-cr-from-canadian-fund-cdpq-for-township-project-palava-city/articleshow/66869460.cms|title=Lodha may raise Rs 700 cr from Canadian fund CDPQ for township project Palava City|date=29 November 2018|publisher=|via=The Economic Times}}</ref> In early 2018, [[Kotak Mahindra Bank|Kotak]] Realty Fund, which had invested around {{INR|540 crore}} in Palava from its $400 million offshore fund exited with around {{INR|838 crore}}, at an IRR of 18%.<ref>{{cite web|url=https://www.livemint.com/Companies/9rVmOkIuwSMYB5OXuS5qrN/Kotak-Realty-Fund-exits-Lodhas-Palava-township-project-in-M.html|title=Kotak Realty Fund exits Lodha's Palava township project in Mumbai|first=Madhurima|last=Nandy|date=9 March 2018|website=Mint}}</ref><ref>{{cite web|url=https://economictimes.indiatimes.com/markets/stocks/news/kotak-realty-fund-makes-rs-838-crore-exit-from-lodhas-palava-city/articleshow/63237026.cms|title=Kotak Realty Fund makes Rs 838 crore exit from Lodha's Palava City|first=Kailash|last=Babar|date=9 March 2018|publisher=|via=The Economic Times}}</ref> As of 2019, [[Piramal Group#Piramal Enterprises|Piramal Enterprises Ltd]] (PEL) and [[Ivanhoé Cambridge]], a real estate subsidiary of [[Caisse de dépôt et placement du Québec]] (CDPQ) have made an equity investment of {{INR|500 crore}} in the project.<ref>{{cite web|url=https://www.livemint.com/Companies/ZZNzFe91wKANgptIeDhTtL/Lodha-to-launch-14000-crore-township-project-in-Mumbai.html|title=Lodha to launch '14,000 crore township project in Mumbai|last=Unnikrishnan.S|date=9 January 2014|website=Mint}}</ref><ref>{{cite web|url=https://www.moneycontrol.com/news/business/piramal-canadian-fund-cdpq-invests-rs-500-cr-in-lodhas-palava-city-3485131.html|title=Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'|website=Moneycontrol}}</ref><ref>{{cite web|url=https://economictimes.indiatimes.com/markets/stocks/news/piramal-ivanhoe-cambridge-residential-equity-fund-invests-rs-500-crore-in-lodhas-palava/articleshow/67848328.cms|title=Piramal, Ivanhoe Cambridge Residential Equity Fund invest Rs 500 crore in Lodha's Palava|first=Kailash|last=Babar|date=5 February 2019|publisher=|via=The Economic Times}}</ref><ref>{{cite web|url=http://www.dailyexcelsior.com/piramal-canadian-fund-cdpq-invests-rs-500-cr-in-lodhas-palava-city/|title=Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'|first=Daily|last=Excelsior|date=5 February 2019|publisher=}}</ref>


==References==
==References==
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[[Category:2000s establishments in India]]
[[Category:2000s establishments in India]]
[[Category:Mumbai]]
[[Category:Thane district]]
[[Category:Smart cities in India]]
[[Category:Smart cities in India]]
[[Category:Planned cities in India]]
[[Category:Planned communities in India]]
[[Category:Cities in Maharashtra]]
[[Category:Cities in Maharashtra]]
[[Category:Kalyan-Dombivli]]

Latest revision as of 10:57, 4 January 2025

Palava City
Residential and Commercial
Map
Coordinates: 19°10′05″N 73°04′26″E / 19.168°N 73.074°E / 19.168; 73.074
CountryIndia
StateMaharashtra
DistrictThane
Founded byLodha Group
Government
 • BodyPalava City Management Association
Area
 • Total
18.21 km2 (7.03 sq mi)
Elevation
10 m (30 ft)
Time zoneIST
PIN
421204
Telephone code0251
Vehicle registrationMH-05
Websitewww.palava.in

Palava is an integrated smart city located near Dombivli in Maharashtra state. It is developed by real estate developer Lodha and is built on a 4,500-acre land located between Thane, Navi Mumbai and Kalyan.[1][2] Palava City is also referred to as the City of Opportunity.[3] It was listed as India's No.1 smart city by Jones Lang LaSalle India's proprietary research report.[4][5]

Development

[edit]

The first phase of Palava City, spread over approximately 300 acres (120 ha), was completed in 2016. By 2016, the company had sold 1,350 homes worth ₹690 crore within the township of Palava.[6] The handover of 18,026 units to the customers was completed by December 2017. The second phase of the development began in 2014.[7][8][9]

The entire project is expected to be completed over 4 phases by the year 2025.[10]

Population

[edit]

There are currently 2 lakh residents[11] in this city.

Finances

[edit]

Lodha Group received the approval to hit the capital market with an initial public offer (IPO) of about ₹5,500 crore. Upon the success of share sales, this would become the second biggest IPO in the real estate sector after DLF that raised close to ₹9,200 crore in 2007.[12] In early 2018, Kotak Realty Fund, which had invested around ₹540 crore in Palava from its $400 million offshore fund exited with around ₹838 crore, at an IRR of 18%.[13][14] As of 2019, Piramal Enterprises Ltd (PEL) and Ivanhoé Cambridge, a real estate subsidiary of Caisse de dépôt et placement du Québec (CDPQ) have made an equity investment of ₹500 crore in the project.[15][16][17][18]

References

[edit]
  1. ^ "Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City". Archived from the original on 27 February 2019. Retrieved 27 February 2019.
  2. ^ "Palava City Offers Residential Spaces with World-Class Amenities". www.palava.in.
  3. ^ "Lodha launches 'Palava'- The City of Opportunity". www.indiainfoline.com.
  4. ^ "Palava City, Navi Mumbai, Mohali top emerging cities: JLL". Zee News. 26 September 2017.
  5. ^ "Lodha Group's Palava ranked India's No. 1 City to Live In by Jones Lang LaSalle". 10 September 2017.
  6. ^ "Lodha Group sells flats worth Rs 690 crore in Palava township". Zee News. 13 October 2016.
  7. ^ "Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City". www.magzter.com.
  8. ^ "Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City". article.wn.com. Retrieved 27 February 2019.
  9. ^ "Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India's No.1 Liveable City - Press Trust of India". Ptinews.com. 31 December 2017. Retrieved 11 March 2019.
  10. ^ "Lodha set to launch 2nd phase of mega city project in Mumbai". Zee News. 9 January 2014. Retrieved 27 February 2019.
  11. ^ "Mixed use developments to see an upsurge; Here's why". The Financial Express. 28 May 2020. Retrieved 24 August 2020.
  12. ^ "Lodha may raise Rs 700 cr from Canadian fund CDPQ for township project Palava City". 29 November 2018 – via The Economic Times.
  13. ^ Nandy, Madhurima (9 March 2018). "Kotak Realty Fund exits Lodha's Palava township project in Mumbai". Mint.
  14. ^ Babar, Kailash (9 March 2018). "Kotak Realty Fund makes Rs 838 crore exit from Lodha's Palava City" – via The Economic Times.
  15. ^ Unnikrishnan.S (9 January 2014). "Lodha to launch '14,000 crore township project in Mumbai". Mint.
  16. ^ "Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'". Moneycontrol.
  17. ^ Babar, Kailash (5 February 2019). "Piramal, Ivanhoe Cambridge Residential Equity Fund invest Rs 500 crore in Lodha's Palava" – via The Economic Times.
  18. ^ Excelsior, Daily (5 February 2019). "Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'".
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