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Pune-based Kolte-Patil Developers Limited has received Location Clearance from the Urban Development Department (UDD) for the first phase of its Sanjivani Integrated Township project at Urse on the Mumbai-Pune Expressway.
Phase I of the project is spread across an area of 242 acres with a saleable area of approximately six 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 per cent stake in the project.
The UDD nod for Sanjivani project follows Location Clearance for the second phase of Life Republic in Hinjewadi.
Sujay Kalele, CEO, Kolte-Patil Developers Ltd, said, “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 to our saleable inventory and will provide a great fillip to our growth in the coming years.”
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