HCC plans Rs 50,000cr investment in Lavasa in a decade

MUMBAI: Realty major Hindustan Construction Company (HCC) has plans to invest around Rs 50,000 crore in its township project in Lavasa, near here, over the next 10-12 years, a top company official said here on Tuesday.

HCC, through its group company Lavasa Corporation, has already invested around Rs 2,500 crore in the project, Lavasa Corporation president Rajgopal Nogja told reporters.

"We have done an investment of around Rs 2,500 crore in the company so far. Our investment over the next 10-12 years is likely to be around Rs 50,000 crore," Nogja added.

On the possibility of hitting the primary markets, he said the company may look at that option if the need arises.

The company has entered into an agreement with renowned biologist Janine Benyus to incorporate an 'international model for architecture inspired by nature' in the project.

"Lavasa City's second town, Mugaon, will become the world's first region to draw inspiration from the concepts of biomimicry in design and architecture," HCC chairman and managing director Ajit Gulabchand said.

Lavasa is the country's first 'hill city' being developed by Lavasa Corporation.