Real Estate

Kolte-Patil enters into pact with Metropolitan Lifespace

Bindu Menon New Delhi | Updated on January 22, 2018 Published on December 11, 2015

Pune-based Kolte-Patil Developers Ltd has entered into a Rs 120-crore co-development agreement with Metropolitan Lifespace Real Estate Developers for its redevelopment project in Mumbai.

Metropolitan Lifespace Real Estate Developers Pvt Ltd. is promoted by IPFII Singapore 5 Pte Ltd, an offshore entity managed and advised by J P Morgan Asset Management-Global Real Assets.

The project, Jay Vijay CHS, has a plot area of 2.25 acres at a prime location off the Western Express Highway, with Kolte-Patil’s economic interest of approximately 1.65 lakh square feet.

According to a press release, requisite approvals are in place, members have been vacated and construction is expected to commence shortly. The project is expected to be delivered over the next 30-36 months.

Published on December 11, 2015
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