16 July,2024 06:43 AM IST | Mumbai | Sanjeev Shivadekar
The hotel, later known as Tulip Star, being razed at Juhu; (inset) An undated photo of the Centaur hotel on Juhu Tara Road. Pics/Shadab Khan
A luxury high-rise is likely to replace Juhu's Tulip Star hotel, formerly known as the iconic Centaur hotel. The sea-facing property near the JW Marriott, Juhu, which is said to be around six acres in area, was recently acquired by the Macrotech Developers, popularly known as Lodha Developers. There is buzz in city-based real estate circles about the possibility of Mumbai's first sea-facing luxury homes with triplex units coming up on the spot.
The developer, however, has not revealed what it wants to do with the premium property in the western suburbs.
There is a talk among city-based real estate experts about the possibility of Mumbai having its first sea-facing luxury homes with triplex units. Experts told mid-day that a segment of flat-buyers prefer having large areas of flats but in the vertical format instead of a traditional horizontal spread. "Many buyers prefer duplexes or penthouses. If someone is planning to give the option of triplexes to such buyers, it would be an interesting change in the real estate sector. I believe if this plan
materialises in reality, in that case property will be sold out within no time," the real estate expert mentioned.
Another section of real estate brokers are of the opinion that the developer might prefer constructing one flat on each floor. "Even real estate players are not aware of the plan. But, we have been hearing about sea-facing premium flats that afford a 360-degree view," said one of the real estate players.
In April 2024, a bankruptcy court approved the acquisition of Mumbai-based V Hotels Ltd, the owner of Tulip Star, by Macrotech Developers.
"Lodha is known for its brand and the residential building that is coming up will be something that has never been seen before in Mumbai. Hence, the developer is not sharing many details. It will be a truly iconic place and reflect its earlier glory," another source from the real estate sector added.
Iconic Lodha projects such as the World Towers, Trump Towers and Altamount have made their mark on Mumbai's skyline.
Lodha is also behind large-scale projects including Pallava, 7 Acre The Park and New Cuffe Parade as well as celebrated global projects No 1 Grosvenor Square in London, the first such endeavour by an Indian developer. The group recently launched Mumbai's first Six Senses Spa.
Lodha has worked with iconic designers Jade Jagger, Armani and Hadi Tehrani and architecture firm WOHA and launched Mumbai's first Six Senses Spa at Lower Parel.
Despite repeated attempts, Macrotech Developers was unavailable for comment by press time.
The hotel has been embroiled in litigation ever since hotelier Ajit Kerkar's Tulip Hospitality Services Pvt Ltd, now known as V Hotels Limited, acquired it (under the then-NDA govt's divestment programme) from Hotel Corporation of India for R153 crore in 2001. Later, Left parties demanded an inquiry into the sale of the hotel as well as the Airport Centaur Hotel, alleging irregularities. After the UPA came to power in 2004, a CBI inquiry was ordered. The agency did not find anything amiss and closed the case in 2008
