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{{Use dmy dates|date=March 2019}}
{{Use Indian English|date=March 2019}}
{{Infobox settlement
| name = Palava City
| native_name =
| native_name_lang =
| other_name =
| nickname =
| settlement_type = Residential and Commercial
| image_skyline = Aerial view of completed developments at Palava today.jpg
| coordinates = {{coord|19.168|73.074|type:city_region:IN|display=inline,title}}
| subdivision_type = Country
| subdivision_name = [[India]]
| subdivision_type1 = [[States and territories of India|State]]
| subdivision_name1 = [[Maharashtra]]
| subdivision_type2 = [[List of districts of India|District]]
| subdivision_name2 = [[Thane district|Thane]]
| established_title = 
| established_date = 2009
| founder = [[Lodha Group]]
| named_for =
| government_type =
| governing_body = Palava City Management Association
| unit_pref = Metric
| area_footnotes =
| area_rank =
| area_total_km2 = 18.21
| elevation_footnotes =
| elevation_m = 10
| population_total =
| population_as_of = 2019
| population_rank =
| population_density_km2 =
| population_demonym =
| population_footnotes =
| demographics_type1 =
| demographics1_title1 =
| leader_title1 =
| leader_name1 =
| leader_title = Member of Legislative Assembly
| leader_name =
| demographics1_info1 =
| timezone1 = [[Indian Standard Time|IST]]
| utc_offset1 =
| postal_code_type = [[Postal Index Number|PIN]]
| postal_code = 421204
| area_code_type = Telephone code
| area_code = 0251
| registration_plate = MH-05
| website = {{URL| https://www.palava.in/}}
| footnotes =
| official_name =
}}
'''Palava''' is an integrated [[smart city]] located near Thane in Maharashtra state. It is developed by real estate developer [[Lodha Group]] and is built on a 4500-acre land located between [[Thane]], [[Navi Mumbai]] and [[Kalyan]].<ref>{{Cite web |url=https://businesswireindia.com/news/fulldetails/palava-introduces-9dx-give-customers-glimpse-their-life-at-indias-no1-liveable-city/61643 |title=Archived copy |access-date=27 February 2019 |archive-url=https://web.archive.org/web/20190227182008/https://businesswireindia.com/news/fulldetails/palava-introduces-9dx-give-customers-glimpse-their-life-at-indias-no1-liveable-city/61643 |archive-date=27 February 2019 |url-status=dead }}</ref><ref>{{cite web|url=https://www.palava.in/residential|title=Palava City Offers Residential Spaces with World-Class Amenities|website=www.palava.in}}</ref> Palava City is also referred to as the City of Opportunity.<ref>{{cite web|url=https://www.indiainfoline.com/article/news-top-story/lodha-launches-‘palava’-the-city-of-opportunity-114020502072_1.html|title=Lodha launches ‘Palava’- The City of Opportunity|website=www.indiainfoline.com}}</ref> It was listed as India's No.1 [[smart city]] by [[Jones Lang LaSalle]] India's proprietary research report.<ref>{{cite web|url=https://zeenews.india.com/real-estate/palava-city-navi-mumbai-mohali-top-emerging-cities-jll-2045699.html|title=Palava City, Navi Mumbai, Mohali top emerging cities: JLL|date=26 September 2017|website=Zee News}}</ref><ref>{{cite web|url=https://www.financialexpress.com/industry/lodha-groups-palava-ranked-indias-no-1-city-to-live-in-by-jones-lang-lasalle/849446/|title=Lodha Group’s Palava ranked India’s No. 1 City to Live In by Jones Lang LaSalle|date=10 September 2017|publisher=}}</ref>

==Development==
The first phase of Palava City, spread over approximately 300 acres, was completed in 2016. By 2016, the company had sold 1350 homes worth Rs 690 crore within the township of Palava.<ref>{{cite web|url=https://zeenews.india.com/business/realestate/latest-news/lodha-group-sells-flats-worth-rs-690-crore-in-palava-township_1939552.html|title=Lodha Group sells flats worth Rs 690 crore in Palava township|date=13 October 2016|website=Zee News}}</ref>
The handover of 18,026 units to the customers was completed by December 2017. The second phase of the development began in 2014.<ref>{{cite web|url=https://www.magzter.com/news/394/635/012019/aqh82|title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India’s No.1 Liveable City|website=www.magzter.com}}</ref><ref>{{cite web|url=https://article.wn.com/view/2019/01/25/Palava_Introduces_9DX_to_Give_Customers_a_Glimpse_of_Their_L/|title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India’s No.1 Liveable City|website=article.wn.com|language=en|access-date=2019-02-27}}</ref><ref>{{cite web|url=http://www.ptinews.com/pressrelease/33460_press-subPalava-Introduces-9DX-to-Give-Customers-a-Glimpse-of-Their-Life-at-India-s-No-1-Liveable-City |title=Palava Introduces 9DX to Give Customers a Glimpse of Their Life at India’s No.1 Liveable City - Press Trust of India |publisher=Ptinews.com |date=2017-12-31 |accessdate=2019-03-11}}</ref>

The entire project is expected to be completed over 4 phases by the year 2025.<ref>{{cite web|url=https://zeenews.india.com/business/realestate/latest-news/lodha-set-to-launch-2nd-phase-of-mega-city-project-in-mumbai_92313.html|title=Lodha set to launch 2nd phase of mega city project in Mumbai|date=2014-01-09|website=Zee News|language=en|access-date=2019-02-27}}</ref>

== Population ==
There are currently 2 lakh residents<ref>{{Cite web|date=2020-05-28|title=Mixed use developments to see an upsurge; Here’s why|url=https://www.financialexpress.com/money/integrated-townships-may-remain-a-preferred-choice-of-homebuyers-post-covid-19/1973810/|access-date=2020-08-24|website=The Financial Express|language=en-US}}</ref> in this city.

==Finances==
Lodha Group received the approval to hit the capital market with an [[initial public offer]] (IPO) of about Rs 5,500 crore. Upon the success of share sales, this would become the second biggest IPO in the real estate sector after DLF that raised close to Rs 9,200 crore in 2007.<ref>{{cite web|url=https://economictimes.indiatimes.com/industry/services/property-/-cstruction/lodha-may-raise-rs-700-cr-from-canadian-fund-cdpq-for-township-project-palava-city/articleshow/66869460.cms|title=Lodha may raise Rs 700 cr from Canadian fund CDPQ for township project Palava City|date=29 November 2018|publisher=|via=The Economic Times}}</ref> In early 2018, [[Kotak Mahindra Bank|Kotak]] Realty Fund, which had invested around Rs 540 crore in Palava from its $400 million offshore fund exited with around Rs 838 crore, at an IRR of 18%.<ref>{{cite web|url=https://www.livemint.com/Companies/9rVmOkIuwSMYB5OXuS5qrN/Kotak-Realty-Fund-exits-Lodhas-Palava-township-project-in-M.html|title=Kotak Realty Fund exits Lodha’s Palava township project in Mumbai|first=Madhurima|last=Nandy|date=9 March 2018|website=Mint}}</ref><ref>{{cite web|url=https://economictimes.indiatimes.com/markets/stocks/news/kotak-realty-fund-makes-rs-838-crore-exit-from-lodhas-palava-city/articleshow/63237026.cms|title=Kotak Realty Fund makes Rs 838 crore exit from Lodha’s Palava City|first=Kailash|last=Babar|date=9 March 2018|publisher=|via=The Economic Times}}</ref> As of 2019, [[Piramal]] Enterprises Ltd (PEL) and [[Ivanhoé Cambridge]], a real estate subsidiary of CDPQ (Caisse de Dépôt et Placement du Québec) have made an equity investment of Rs 500 crore in the project.<ref>{{cite web|url=https://www.livemint.com/Companies/ZZNzFe91wKANgptIeDhTtL/Lodha-to-launch-14000-crore-township-project-in-Mumbai.html|title=Lodha to launch `14,000 crore township project in Mumbai|first=|last=Unnikrishnan.S|date=9 January 2014|website=Mint}}</ref><ref>{{cite web|url=https://www.moneycontrol.com/news/business/piramal-canadian-fund-cdpq-invests-rs-500-cr-in-lodhas-palava-city-3485131.html|title=Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'|website=Moneycontrol}}</ref><ref>{{cite web|url=https://economictimes.indiatimes.com/markets/stocks/news/piramal-ivanhoe-cambridge-residential-equity-fund-invests-rs-500-crore-in-lodhas-palava/articleshow/67848328.cms|title=Piramal, Ivanhoe Cambridge Residential Equity Fund invest Rs 500 crore in Lodha’s Palava|first=Kailash|last=Babar|date=5 February 2019|publisher=|via=The Economic Times}}</ref><ref>{{cite web|url=http://www.dailyexcelsior.com/piramal-canadian-fund-cdpq-invests-rs-500-cr-in-lodhas-palava-city/|title=Piramal, Canadian fund CDPQ invests Rs 500 cr in Lodha's 'Palava City'|first=Daily|last=Excelsior|date=5 February 2019|publisher=}}</ref>

==References==
{{reflist}}

[[Category:2000s establishments in India]]
[[Category:Mumbai]]
[[Category:Smart cities in India]]
[[Category:Planned cities in India]]
[[Category:Cities in Maharashtra]]

Palava City - Revision history

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