Kalpataru targets ₹350-cr real estate projects

Real estate builder, Kalpataru, a part of the diversified business house Kalpataru group, has targeted to invest ₹350 crore in the next couple of years to develop a premium housing project in Mumbai. The company has already started the second phase of its housing project 'Kalpataru Vienta' in Kandivali (East), where it will build more than 200 housing units on an area of 2.4 acres. Nearly 5 lakh sq ft area will be developed in the current phase with prices for the 2-BHK starting at ₹1.7 crore and for 3-BHK starting at ₹2.4 crore onwards. The first phase comprising over 170 units was launched in January 2020. The growing customer confidence has witnessed a strong turnaround on the back of interest rate softening, schemes and strong policy support of the government for the homebuyers. MD Parag Munot said that with average saving in the range of 8-10 per cent for the homebuyer, prices have hit a historic low, making this the best time to invest in real estate.