| Publication |
2014.
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| Summary/Abstract |
The global shift from rural to urban living will be the most important demographic transformation of the 21st century. All great shifts create the opportunity for great fortunes, especially for those with audacious visions who are positioned to capitalize on them. Indian industrialist Ajit Gulabchand runs Hindustan Construction Company (HCC), which is responsible for some of the country's most iconic infrastructure projects. In what might be the single biggest bet in the history of Indian real estate, Gulabchand has staked HCC's future - and his own family fortune - on a cluster of five planned cities perched along artificial fjords about four hours east of Mumbai. He calls it Lavasa. 300 million people are projected to move into India's already overcrowded cities over the next quarter-century. Lavasa is Gulabchand's US$6 billion dollar attempt to capitalize on this demographic shift - and turn a profit in the process. He even modeled Dasve, the first of Lavasa's five cities, after Portofino on the Italian Riviera. Lavasa's sales team speaks of a "stirring adventure", complete with French lessons and rock climbing, for the 300,000 residents that it hopes to attract. With Indian cities feeling increasingly like pressure cookers, Lavasa's promise of clean air, sidewalks, and personal space attracted huge investments.
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