“A city is a dream made visible.”
The conception of Lavasa was precisely in this spirit. Envisioned as a privately planned hill city in the Western Ghats, it aspired to translate the idea of urban living into reality by combining homes, public spaces and a shared civic life within a self-contained settlement. Inspired by the romances of the Italian town of Portofino, Lavasa represented an experiment in India’s urban imagination, where a private enterprise attempted to build a city and not just a project.
This vision, however, met an unfortunate fate of financial distress which led to insolvency proceedings against Lavasa Corporation Limited under the Insolvency and Bankruptcy Code, 2016 (IBC), putting an entire urban settlement…