Development area of 157msf, spread over 18,000 acres - Revised business plan of Lavasa now factors in development area of 18,000 acres, vs initial 13,500 acres. This entails development of 157msf, FSI of ~0.20x. The project now envisages 300,000 permanent residents and 2m visitors pa. Lavasa has a lake line length of 60 kms, and is spread across 100sq kms; equivalent to the size of Paris and one-fourth the size of Mumbai.
As per the Hill Station Regulations, Lavasa has been declared as a Hill Station over a proposed area of ~ 25,000 acres. The current business plan is for development of 18,000 acres out of the same and the company has purchased so far ~ 10,000 acres of land and further ~ 2,000 acres of land are in the agreement stage.
Development plan entails 4 periods, with Period 1 comprising of Dasve, Mugaon and Bhoini to be largely completed by FY13/14. Each of the periods would then have phase wise development. Dasve, the first town in this Period 1 will be ready by 2010.
Future launches to be primarily residential / commercial development; vs current largely comprising of institutional, hospitality and social infrastructure - Of the 157msf development plans, residential is expected to account for 64% and commercial (including offices, etc) to account for 20% while the balance 16% of the FSI development is towards hospitality, education and other social developments.
