Kirloskar Industries arm Avante Spaces nods revised plan for its land parcels in Pune

This will consist of a mixed-use development of approximately 1.8 million sq. ft. leasable area, the company said.

Jul 26, 2021 04:07 IST India Infoline News Service

Kirloskar Industries Limited informed the exchanges Friday that the Board of Directors of Avante Spaces Limited (formerly known as Wellness Space Developers Limited), Wholly-Owned Subsidiary of the Company, have considered and approved the revised plan in respect of mixed-use development on its land parcels at Kothrud, Pune.

This will consist of mixed-use development of approximately 1.8 million sq. ft. leasable area, as per the revised Concept Design Drawings and strategies presented before the Board of Directors of Avante Spaces Limited.

This has been done pursuant to the Unified Development Control Regulation notified on December 2, 2020, which has impacted positively on project development for Floor Space Index (FSI) and leasable area.

Kirloskar Industries Ltd ended at Rs1,697 per piece down by Rs4.8 or 0.28% from its previous closing of Rs1,701.80 per piece on the BSE.

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