Kolte Patil Developers Signs 2 New Projects in Pune
Kolte Patil Developers announced the signing of two new projects in Pune under the Development Management (DM) model. As the development manager, Kolte-Patil will lend its brand to these projects and jointly collaborate with the land owners to oversee product design, sales and marketing, project quality and cash flow management leading to time-bound handover to buyers. The project costs would continue to be borne by the respective projects. Both locations of the new projects are established micro-markets within Pune and are strategically located with multiple schools, hospitals, retail and residential spaces in close proximity.
Hinjewadi – plot area 8.4 acres; saleable area 0.75 million sq. ft; Residential use; DM structure. Tathawade – plot area 5.4 acres; saleable area 0.55 million sq. ft; Mixed use; DM structure. In February 2021, Kolte-Patil had signed three new projects with a combined saleable area of ~2.2 msf in Pune under capital light models. These new DM projects will further strengthen the Company’s market position in Pune.