Kolte-Patil Developers plans to invest Rs. 1,500 crores in Bengaluru, Mumbai, and Pune over the next three years.
Rahul Talele, Group CEO of Kolte-Patil Developers, claims that the business is willing to take part in stalled projects for redeveloping slums in Mumbai with potential sales of between Rs 300 and Rs 800 crore. But it is only interested in projects where slum residents have left building sites.
The real estate consultants in Pune declared that it aims to continue growing in the residential market and that it would continue to concentrate on Bengaluru, Mumbai, and Pune during the following three years. “We intend to invest Rs 500 crore throughout the current fiscal.
This is how we want to invest Rs. 1,500 crores over the following three years. By entering those micro markets where we do not currently have a presence in Pune, we intend to increase our footprint there. We are focusing on Navi Mumbai, Mumbai’s core district, and the western suburbs of Mumbai. In these places, redevelopment projects are what we’re searching for.
The following two Mumbai projects will be completed soon:
The business will soon begin work on two further projects in Mumbai’s Khar and Kalina neighborhoods. It will then begin working on a renovation project in Navi Mumbai’s Vashi neighborhood. In the following two to four quarters, Kolte-Patil also intends to start a project in Mumbai’s Dahisar neighborhood.
“We already have a presence in Bengaluru, and we hope to expand it. We’re searching for places where we can be seen clearly. Projects with a minimum of 1-2 acres are preferred by us. Our method or plan is merely centered on three things: joint ventures, outright land deals, and housing society reconstruction.
May take slum redevelopment programs:
Table stated that if a slum rehabilitation project met their requirements, the corporation would not reject it. “We would favor slum restoration initiatives when the slum residents have already left the area. There is nothing available right now.
But rather than jumping into any type of market instability, we are carefully considering projects with sales values of between Rs 300 and Rs 800 crore. We are seeking this money for initiatives overall, not only slum redevelopment projects.”
The business will concentrate on projects for the middle-income group:
The corporation will favor starting projects in the middle-class and cheap sectors. Since COVID-19, Pune’s apartment sizes have changed.
“At least in Pune, COVID-19 has resulted in a 10% increase in the saleable area of one of the apartments we developed. Before, we offered 550–600 square foot 1 BHK apartments. It has increased to, say, 700 sq ft now.
We used to provide 800-900 square feet for 2 BHK in Pune, but consumers are now even requesting about 1,000 square feet. However, there is no significant difference when it comes to 3 BHK flats. “
“We are thinking about providing more amenities for open areas in Mumbai and Bengaluru. Balconies are in high demand in Mumbai. According to the real estate developers Pune, also intends to include EV charging stations in its home developments whenever practical.”
Conclusion:
We are offering the EV charging station that we recently collaborated on with Tata Power, depending on the size and functionality of the installation. Given our size in Pune, I believe we will eventually give it to all projects, but for the remainder, a variety of criteria will be involved.”
Over 23 million square feet of real estate projects have already been completed by the corporation, and over 10 million housing units, mostly in the residential market, are in the process of being built.
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