Kolte-Patil Developers Limited announced today it has signed a joint development agreement for a 22-acre residential and mixed-use project in Wadgaon Khurd, Pune, with an expected Gross Developable Value of ₹4,000 crore.
The shares of Kolte-Patil Developers Limited were trading at ₹301 down by ₹5.55 or 1.81 per cent on the NSE nearing the closing bell.
The project, located within Pune Municipal Corporation limits, will have a total potential saleable area of approximately 5 million square feet. The site is situated in South-West Pune and offers views of the Mutha River to the north and is bordered by a garden reservation to the south.
Joint Managing Director Yash Patil said the company aims to expand its footprint across key micro-markets through strategic partnerships and capital-efficient structures. Group CEO Atul Bohra emphasised the development’s strategic location and its proximity to essential social infrastructure.
The land parcel features connectivity to CBD Pune and the West-Pune zone, with schools, hospitals, shopping malls, and entertainment facilities within a 2-kilometer radius. The project will benefit from a 90-meter proposed ring road alongside park reservations to the west.
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Kolte-Patil, established in 1991, has developed over 64 projects covering more than 28 million square feet across Pune, Mumbai, and Bengaluru. The company markets its projects under two brands: ‘KoltePatil’ for mid-income segments and ‘24K’ for premium luxury segments.