Kolte-Patil pushes three realty projects in Pune

Pune-based Kolte-Patil Developers has announced the signing of three new projects in Pune under the development management (DM) model. The company has targeted DM fees of ₹60-65 crore from projects over a period of 30-36 months. The projects located at Wagholi in East Pune and Kiwale and Ravet in West Pune, command a sale potential of 1.2 million sqft of its over 1,250 units. The developer will lend its brand name to these projects and collaborate with the landowners to oversee product design, sales and marketing, project quality, cash flow management and time-bound handover to buyers. The project costs would continue to be borne by the respective projects as the DM model will help diversify revenue stream with the inclusion of the fee-based income, and enhance customer reach across product categories and geographical micro-markets, said CEO Gopal Sarda.