Poddar Housing plans 102-acre affordable project

Making the most out of the emerging real estate demand scenario in the region, Poddar Housing and Development is in the process of acquire 102.5 acres land in Pune to develop an affordable housing project, said official sources, elaborating that its subsidiary Poddar Habitat has executed an agreement to acquire a land admeasuring approx 102.5 acres at Chakan, Pune from Autoline Industrial Parks Ltd. The land is being acquired along with trunk infrastructure facilities, on a deferred payment terms. Autoline Industrial Parks is a subsidiary of Autoline Industries Ltd. The company is proposing to build a residential affordable housing project with a potential development of more than 8 million sq.ft over a period of time. With this acquisition, the company continues to expand its geographical presence in Tier II cities in addition to its existing presence in Mumbai region, they added.