Real estate firm Kalpataru will invest Rs 250 crore to develop a premium housing project in Pune as part of its expansion plan.
The Mumbai-based company said that it has launched its premium residential project ‘Kalpataru Aurum’ in Baner, Pune.
The project, which is spread over 2.33 acres, comprises close to 450 apartments. The prices start at Rs 1.10 crore.
The construction of the project will commence in March 2022 and the apartments will be ready for possession by December 2026.
“Baner is witnessing a huge influx of knowledge and service industries spurring the development of world class homes, citizen amenities and a diverse culture,” said Parag Munot, MD, Kalpataru.
The 500-acre Pashan-Baner Bio Diversity Park also makes it one of the greenest micro markets, he added.
“On the one hand real estate is at the beginning of an upcycle, while on the other, interest rates have bottomed out, making this the most opportune time to acquire real estate,” Munot said.
According to real estate brokerage firm PropTiger, Pune saw a 9 per cent increase in sales to 42,425 units in 2021 from 39,086 units in the previous year.
Anarock reported that housing sales in Pune increased by 53 per cent to 35,980 units in 2021, from 23,460 units in 2020.
According to a report by realty firm Gera Developments, housing sales in Pune rose 12 per cent to 92,896 units last year on better demand.
Kalpataru has interests spanning real estate, power transmission and distribution, civil infrastructure and logistics.
