Kolte-Patil Developers is trading higher by 5% at Rs 78.40 after real estate developer, has announced the closure of the acquisition of a 34 acres land parcel at Wakad, Pune for approximately Rs 350 crore.
The project is 100% owned by Kolte-Patil with a total saleable area of 2.3 million sq ft. The company will develop a mixed-use residential housing project with some commercial aspect, Kolte-Patil Developers said in a statement.
This land parcel is the largest contiguous plot within the city municipal limits and has a prime location on the Mumbai-Pune highway.
The Wakad land parcel lies in close proximity to the Rajiv Gandhi Hinjewadi IT Park that houses global IT companies like Infosys, Wipro, TCS, IBM, Tech Mahindra etc.
The stock opened at Rs 75.45 and hit a high of Rs 80.35 on the BSE. A combined 408,000 shares changed hands on the counter till 1010 hours on the BSE and NSE.
The project is 100% owned by Kolte-Patil with a total saleable area of 2.3 million sq ft. The company will develop a mixed-use residential housing project with some commercial aspect, Kolte-Patil Developers said in a statement.
This land parcel is the largest contiguous plot within the city municipal limits and has a prime location on the Mumbai-Pune highway.
The Wakad land parcel lies in close proximity to the Rajiv Gandhi Hinjewadi IT Park that houses global IT companies like Infosys, Wipro, TCS, IBM, Tech Mahindra etc.
The stock opened at Rs 75.45 and hit a high of Rs 80.35 on the BSE. A combined 408,000 shares changed hands on the counter till 1010 hours on the BSE and NSE.
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