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Jones Lang LaSalle to market India’s Lavasa hill city development

KUALA LUMPUR: International real estate services provider Jones Lang LaSalle Meghraj (JLLM) in India has been appointed the international marketing and retail consultant to Lavasa (near Pune), India’s first planned hill city since independence,.

Covering 25,000 acres, Lavasa is set amidst seven hills with a 60km lake front in the Sahayadri Mountains and is constructed by Hindustan Construction Company (HCC Group), which owns a 65.01% stake of the development. The master plan was designed by renowned design consultant HOK, USA.

“Lavasa is being developed as the ultimate corporate training, wellness and lifestyle vacation destination in India, and we are very excited to market this brand to the discerning occupiers of tomorrow. We have begun fine-tuning the project’s marketing campaign in line with Lavasa’s phase-wise development plan, which we agree is a intelligently strategised one,” said Ash Sharma, vice president, Jones Lang Lasalle Meghraj.

JLLM’s real estate marketing and advisory role will include the leasing and sales of offices, retail and the capital markets services.

A selection of villas, apartments and studios are available for sale starting from RM180 psf, while villa lands are priced at RM7.40 psf.

Lavasa, also India’s largest urban infrastructure project, will consist of five towns; Dasve, Mugaon, Dhamanohol, Sakhari-Wadavali and Central Business District (CBD). The first of the towns, Dasve is scheduled to be completed in 2010-11. The entire development is expected to be ready in 2020, with 70% completion by 2015.

The city is planned to house a population of around 300,000 with an estimated inflow of two million tourists per year. The economic drivers of the city will include R&D and training centres, IT and biotech industry, knowledge process outsourcing, tourism and those related to art, fashion and animation, generating around 95,000 jobs.

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