Realty firm Kolte-Patil Developers has received clearance from Maharashtra Government for the first phase of its 'Sanjivani' integrated township project in Pune, where work will begin next year.
"Kolte-Patil has received location clearance from the State Urban Development Department for the first phase of its Sanjivani integrated township project in Urse off the Mumbai- Pune Expressway," a company statement said here today.
The first phase is spread across 242 acres with a saleable area of around 6 million sq ft, it said.
Initially, the company will construct villas and residential towers along with with a golf course, commercial area, school and hospital and the work is expected to start in the second half of 2015, the statement said.
Kolte-Patil holds 51 per cent stake in the project, while the rest is held by Sanjivani Remedies, it said.
"With the receipt of location certificate for the township, we are confident of commencing construction work in H2 of 2015. We have also received clearance for the second phase of another township 'Life Republic' and we expect to start work on this project in the second half of next year as well," the company's Chief Executive, Sujay Kalele, said.
Both projects would add substantially to our saleable inventory and provide a great fillip to our growth in coming years, he said.
