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With a total saleable area of approximately 5 million square feet, the project is expected to have a Gross Developable Value (GDV) of around ₹4,000 crore, Kolte-Patil Developers said in a stock exchange filing.
Shares of Kolte-Patil Developers Ltd rose as much as 4.4% in the morning trade on Friday to touch an intraday high of ₹319.95 apiece on the BSE.
The development will be spread across 22 acres within the Pune Municipal Corporation limits, located in the southwestern part of the city. This prime location offers scenic views of the Mutha River to the north and a serene garden reservation to the south, ensuring uninterrupted vistas the company stated.
The area also boasts seamless connectivity to both the Central Business District (CBD) and the West Pune zone. A 90-meter proposed ring road alongside park reservations to the west is set to enhance the area’s accessibility further.The project is located within a two-kilometer radius of essential amenities including schools, hospitals, shopping malls, and entertainment hubs, ensuring a high-quality living experience for potential residents.
“Pune’s real estate market continues to present significant opportunities for growth. As a market leader, we remain committed to expanding our presence in key micro-markets through our well-calibrated diversification strategy. This new project highlights our focus on thoughtfully designed, community-centric developments that cater to the growing aspirations of the city’s residents,” Yash Patil, Joint Managing Director of Kolte-Patil Developers, said.
Brokerage firm Antique anticipated subdued real estate sales bookings few real estate players including Kolte-Patil Developers, Aditya Birla Real Estate, Prestige Estates, Sobha, and Sunteck Realty, in the third quarter of financial year 2025, citing limited or no new project launches.
Shares of Kolte-Patil Developers were trading 0.47% higher at ₹ 307.8 on the BSE around 10.12 am.
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