K Raheja unveils 6-mn-sqft realty projects

K Raheja Infotech Parks
Adding to its project portfolio in the real estate sector, K Raheja Corp in a latest move has decided to build two InfoTech parks worth 6mn sq ft leasable space in Mumbai and Pune over the next two years thereby adding to the existing portfolio of the company, which is India's second largest developer of business parks spanning completely leased 20 million sq ft office space across Mumbai, Navi Mumbai, Hyderabad, and Pune, Managing Director, Vinod Rohira, said in a statement, adding that the company has entered into an agreement to acquire a 30-acre land parcel in Pune from builder Gera Developers to develop an IT park with total 3.5 million sq ft leasable space on this plot.

As a matter of fact, the company is taking aggressive position to build major supply of IT business parks across Mumbai and Pune and in the next few years, it is looking at developing 1 million sq ft of land with investment of Rs 250-cr every year. Till December 2015, the company had executed one of the biggest land transactions in Mumbai Metropolitan Region, when it acquired a 30-acre land parcel in Ghansoli locality for Rs 210-cr from US-based specialty chemicals company Cabot Corporation and that the second proposed IT Park will be developed on this land parcel, he said.

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