Kolte-Patil signs two new projects in Pune under DM model
Published: May 17, 2021
By TIOLCORPLAWS News Service
PUNE, MAY 17, 2021: REAL estate major Kolte-Patil Developers (KPDL) on Monday said they signed two new projects in Pune under the Development Management (DM) model with a combined saleable area of 13 lakh square feet.
KPDL 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, on the other hand, would continue to be borne by the respective projects.
Both locations are established micro-markets within Pune in Hinjewadi and Tathawada, and are strategically located with multiple schools, hospitals, retail and residential spaces in close proximity.
In February, the developers had also signed three new projects with a combined saleable area of 22 lakh square feet in Pune under the capital light models.
Group CEO Mr Gopal Sarda said, "These two new project additions along with three announced in February earlier are in line with our business development strategy of expanding our market share in our core markets of Pune, Mumbai and Bengaluru.”
An increasing number of landowners and developers are looking to partner with large real estate companies given their brand equity, balance sheet strength, faster execution and cash flow generation record.