Kolte-Patil Developers Limited, Pune’s largest residential real estate developer, has received ‘Location Clearance’ from the Urban Development Department (UDD) for the first phase of its Sanjivani Integrated Township project in Pune located at Urse, on the Mumbai-Pune Expressway.
The project represents an opportunity to create an outstanding residential and recreational location in close proximity to Pune city, driven by multiple employment and economic drivers, and India’s financial capital, Mumbai. It is ideally located in one of world’s most vibrant Information Technology growth corridors and is also in close vicinity to several prestigious educational institutes.
Phase I of the project is spread across an area of 242 acres with a saleable area of approximately 6.0 million square feet. The first sub-phase launch is expected in H2 FY15 and will involve the construction of villas and residential towers together with a golf course, commercial space, school and hospital. Kolte-Patil has 51% stake in the project.
Sujay Kalele, CEO, Kolte-Patil Developers Ltd.said, “Following the receipt of ‘Location Clearance’ for the second phase of Life Republic, we are delighted to announce that we have received ‘Locational Clearance’ for the ‘Sanjivani Integrated Township’ at Urse as well. Both the townships have already received pre-certification from the Indian Green Building Council (IGBC) and we are confident of launching these projects in the second half of the year. These projects add substantially to our saleable inventory and will provide a great fillip to our growth in coming years.”