Real Estate

Nirmal Lifestyle, which develops malls and realty projects, plans to create 20 townships, under the brand name Lifestyle City, across India. Each Lifestyle City will be spread across 300-1,000 acres of land. Lifestyle City is expected to provide housing at affordable prices.
To begin with, the company plans to develop five townships in phase-I at a cost of $5 billion. It has already identified the locations: Two in Mumbai and one each in Pune and Panvel (Maharashtra), and Indore (Madhya Pradesh). These projects are expected to generate a revenue of $10 billion.
Lifestyle City townships will feature some of the best-known brands in leisure, hospitality, sports, shopping etc. Each of the mixed-use townships, featuring an IT SEZ, will have a total builtup area of approximately 20 million sq. ft. Of this about 75 per cent will be residential and around 25 per cent commercial, which will include office space, retail, hospitality and social infrastructure such as education, sports and entertainment.
All 20 Lifestyle City projects will have more than 60 per cent of total area as green space.
Nirmal Lifestyle, a two-decade old company, has developed several residential and commercial projects such as Nirmal Lifestyle, Mulund, in Mumbai. The company is also building a 1,080-room hotel and convention centre in India with Accor group of France.

Contact: Nirmal lifestyle, L.B.S. Marg, Opp. Nirmal Nagar, Mulund (W), Mumbai, Maharashtra 400080. Tel: 022-67973180/81, 25905122/23 & 66430383; Fax: 022-67973182; E-mail: info@nirmallifestyle. com or lifestylecity@nirmallifestyle.com