Kolte-Patil plans 25-acre realty project in Pune

Real estate builder, Kolte-Patil Developers, has recently planned to build a residential housing project on an area of 25 acres at Kiwale in Pune. For the project, it has acquired Pune-based Sampada Realities, which owns the land parcel with residential development potential of about 2.5 million square feet, Rahul Talele, Group CEO, Kolte-Patil Developers, said adding that the development represents a revenue potential of over ₹1,400 crore for Kolte-Patil as the project has all the mandatory regulatory approvals in place. The acquisition will help further strengthen Kolte-Patil's market position in Pune. This acquisition is in line with the company's business development target worth ₹7,000 crore for the current fiscal and to go ahead it continues to evaluate more such opportunities to meet its growth objectives across Pune, Mumbai and Bengaluru. The company has developed over 50 projects, including residential complexes, integrated townships, commercial spaces and IT Parks, covering a saleable area of about 23 million square feet across Pune, Mumbai and Bengaluru, he claimed.