Kolte-Patil Developers rose 2.31% to Rs 230.45 after the real estate developer announced the signing of two new projects in Pune under the development management model.The two projects have a combined saleable area of about 1.3 million square feet (msf). The company expects development management (DM) fees of approximately Rs 80 crore.
As the development manager, Kolte-Patil will lend its brand to these projects and jointly collaborate with the land owners to oversee product design, sales and marketing, project quality and cash flow management leading to time-bound handover to buyers. The project costs would continue to be borne by the respective projects.
The First project located at Hinjewadi has a plot area of 8.4 acres and a saleable area of 0.75 million square feet. The project is for residential use. The second project is located at Tathawade. It has a plot area of 5.4 acres and a saleable area of 0.55 million square feet. The project is for mixed purpose.
Kolte-Patil signs two new projects with a combined saleable area of ~1.3 msf in Pune under DM model
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Kolte-Patil signs two new projects in Pune under DM model
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