Real Estate Mumbai
Pune's Luxury Penthouse Market Hits New Heights: 'Emperor Palace' Sold for Rs 37 Crore
By GeoSquare News Desk · Published 2024-07-09
In a recent development, Lodha, a leading real estate developer, has sold its luxury penthouse, 'Emperor Palace', for a staggering Rs 37 crore, marking the most expensive property deal in the luxury apartment segment in Pune. Located in the upscale Bund Garden area, this 12,000 sq/ft penthouse is part of the Lodha One project, developed by Macrotech Developers, which operates under the brand name Lodha.
The Emperor Palace, situated at the top of a residential tower, offers breathtaking views of the surrounding 500 acres of greenery. With its opulent design and picturesque location, the Lodha One project has set a new standard for luxury living in Pune. Over the past two years, Pune has witnessed 32 apartment registrations in the luxury segment, valued above Rs 10 crore, with the highest value being Rs 18.5 crore. The Lodha One penthouse, with a per-square-foot price range of Rs 28,000-29,000, has now become the most expensive in this segment.
Lodha One is the developer's first luxury project in Pune, designed to cater to the growing demand for luxury gated residential communities equipped with world-class amenities and services. The project features exclusive services provided by Lodha's private hospitality service, Saint Amand, which caters to all hospitality needs of the residents. The project is spread across three levels, with features like a private terrace and pool for the homeowners. Designed by Singapore-based Sitetectonix firm, the project aligns with Lodha's philosophy of providing exceptional living experiences.
The sale of the Emperor Palace penthouse reflects the growing demand for luxury apartments in Pune, driven by the city's rising popularity as a hub for business and entrepreneurship. As the city continues to experience a shortage of land, developers like Lodha are responding to the demand by creating luxury projects that offer the finest living experiences.