Giorgio Armani To Design Supertech’s Real Estate Project:

The well acclaimed success in Dubai prompts Giorgio Armani to launch superior luxury apartments in India too. The Italian fashion designer will join hands with Noida-based real estate group Supertech with this purpose.
Giorgio Armani Sets new horizons for luxury real estate

Giorgio Armani, renowned fashion designer, is all set to design new horizons for luxury real estate in India.

Giorgio Armani is all set to give a new dimension to the luxury real estate of India. Collaborating with Supertech, Italian fashion designer Giorgio Armani will develop some superior and ultra-luxury apartments in Noida.

Previous year witnessed Armani tying up with Lodha, a Mumbai-based real estate developer Group. This year the Italian fashion designer is joining his hands together with the Noida-based Supertech for designing Armani Tower.

Lodha developers had signed on Armani for designing their 117-storey residential project. The project comprises apartments and villas. The prices range from Rs.7.5 Cr to Rs.50 Cr.

Armani Tower, comprising 100 luxury housing units, will be designed in Supernova one of the most notable luxury projects of Supertech. The project will spread over 4,00,000 sq. ft. Armani will design the interiors and furniture of the project.

The project will have apartments of two sizes — 3,000 sq. ft. and 5,000 sq. ft. The estimated rate of each unit will be near to Rs.20,000 per sq. ft. These housing units which cost nearly Rs.10 Cr will be the most expensive in Greater Noida. Continue reading

Lodha may buy DLF’s Mumbai land-sources

India’s Lodha Group is in advanced talks to buy a plot of land in Mumbai from DLF, the country’s largest listed real estate developer, for about $500 million, two sources with direct knowledge of the situation said.

Sale of the 17-acre plot is seen as part of DLF’s plan to sell some of its assets to pare its debt of about $4 billion. DLF bought the land for about 7 billion rupees ($129 million) in 2005.

Mumbai-based developer Lodha has emerged as the front-runner for the land parcel in central Mumbai said the sources, declining to be named as the matter is not public yet.

DLF declined to comment, while a spokesman for Lodha said the company was not in talks with DLF.