Kolte Patil Developers (KPDL) through its subsidiary -- Kolte-Patil I-Ven Townships (Pune) (KPIT) has entered into an agreement with Planet Smart City, a UK based Proptech Company, for the second and final leg of strategic land monetization at Sector R10 in KPDL’s Pune-based township project Life Republic for Rs 81.29 crore. This portion of land measuring 4.92 acres in Sector R10 has a residential development potential of 6.8 lakh sq. ft. in terms of saleable area.
This agreement follows the initial transaction of Rs 91 crore between the two companies announced in April this year, for monetization of 5.42 acres in Sector R10 with residential development potential of 7.6 lakh sq. ft. based on saleable area. Aggregate value of both these transactions over two phases is Rs 172 crore.
Kolte Patil Developers is a leading real estate company. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of approximately 15 million square feet across Pune and Bengaluru.
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