Lavasa, India’s first private hill station, has been sold to Darwin Platform for Rs 1814 crore. The sale was announced on March 8, 2023.
Lavasa was developed by Hindustan Construction Company (HCC) in 2006. The hill station is located in the Western Ghats near Pune, Maharashtra. It is spread over an area of 2,300 acres and has a population of around 30,000 people.
Darwin Platform is a real estate investment firm that is backed by the Piramal Group. The company plans to invest Rs 2,500 crore in Lavasa over the next five years. Darwin Platform plans to develop Lavasa into a world-class tourism destination.
Here are some additional details about the story:
- The sale of Lavasa is the largest real estate deal in India in 2023.
- Darwin Platform is the first company to acquire a private hill station in India.
- The sale of Lavasa is a sign of the growing interest in the Indian real estate market.
Here are some quotes from Darwin Platform and HCC executives:
- “We are excited to acquire Lavasa,” said Ajay Harinath Singh, CEO of Darwin Platform. “We believe that Lavasa has the potential to be a world-class tourism destination.”
- “We are confident that we can develop Lavasa into a vibrant and sustainable community,” said Singh.
- “We are pleased to have sold Lavasa to Darwin Platform,” said Ajit Gulabchand, chairman of HCC. “We believe that Darwin Platform is the right company to take Lavasa to the next level.”
- “We are confident that Lavasa will continue to grow and prosper under the ownership of Darwin Platform,” said Gulabchand.
Overall, the sale of Lavasa to Darwin Platform is a significant development in the Indian real estate market. The deal shows that there is a strong interest in investing in the Indian real estate market, and it also shows that there is potential for development in the tourism sector. It will be interesting to see how Darwin Platform develops Lavasa over the next few years.”