Lavasa City Hill Station, a picturesque hillside township, has been recently sold to Darwin Platform Infrastructure (DPI) for a considerable amount of INR 1814 crores, as per the order of the National Company Law Tribunal (NCLT). The development project, previously undertaken by Hindustan Construction Company Limited (HCCL), has now changed ownership, marking a significant development in the real estate and infrastructure sectors.
About Lavasa City:
Lavasa City is a meticulously planned hillside development situated in the scenic Western Ghats region of India. The project was envisioned to create an urban oasis amidst the natural beauty of the landscape. With a harmonious blend of residential, commercial, recreational, and leisure spaces, Lavasa City aimed to offer a unique living experience to its residents. The township’s strategic location and well-designed infrastructure made it an attractive destination for both residents and tourists seeking an escape from the hustle and bustle of city life.
About Hindustan Construction Company Limited (HCCL):
Hindustan Construction Company Limited (HCCL) is a renowned Indian infrastructure development and construction company.HCCL has been involved in executing various large-scale projects in the country, ranging from transportation and power infrastructure to urban development. Lavasa City was one of HCCL’s flagship projects, showcasing the company’s expertise in creating well-planned urban spaces in challenging terrains.
About Darwin Platform Infrastructure (DPI):
Darwin Platform Infrastructure (DPI) is a prominent player in the infrastructure and investment sector in India. The company has earned a reputation for its diversified portfolio, which includes investments in infrastructure, real estate, financial services, and more. Known for its strategic approach to investments and operations, DPI has been actively involved in acquiring and managing assets across various sectors. The acquisition of Lavasa City Hill Station marks a significant step for DPI in expanding its presence in the real estate segment and further diversifying its portfolio.
The NCLT Order:
The acquisition of Lavasa City Hill Station by Darwin Platform Infrastructure was carried out under the oversight of the National Company Law Tribunal (NCLT). NCLT is a specialized quasi-judicial body in India that handles corporate legal matters, including insolvency and bankruptcy cases. The NCLT order ensured a fair and transparent process for the sale of Lavasa City, following HCCL’s financial challenges that led to the initiation of insolvency proceedings.
The sale of Lavasa City Hill Station to Darwin Platform Infrastructure for INR 1814 crores under the NCLT order marks a significant development in the Indian real estate and infrastructure sectors. DPI’s acquisition presents new opportunities for the future development and growth of Lavasa City, while also reflecting the changing landscape of the infrastructure industry. With DPI’s strategic approach and experience, Lavasa City is poised to witness further progress and may become an even more sought-after destination for residents and tourists alike.