Shapoorji Pallonji Real Estate plans invest Rs 4,000 crore for the development of mixed use project in Pune
New Delhi: Mumbai-based Shapoorji Pallonji Real Estate plans invest Rs 4,000 crore for the development of mixed use project in Pune.
The project will e spread over 148 acres of land and will have total 6,000 flats, to be developed in phases. The project ''VANAHA'' will be located at Bavdhan, West Pune.
The flats will be priced at Rs 39 lakh to Rs 89 lakh for the first phase. This phase will have about 600 flats, the company said in a statement.
"Pune is a very important market for us and addition of this big project fits well with our strategy,” said Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate.
The firm has a development pipeline of about 80 million square feet space. It is planning to double its revenues in the coming 2-3 years.