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Shapoorji Pallonji Real Estate to invest Rs4,000 cr on new project in Pune
1 min read.Updated: 28 Jan 2021, 12:05 PM ISTPTI
Shapoorji Pallonji Real Estate has launched a 148-acre project 'VANAHA' near Bavdhan, West Pune. The project will be a mixed-use development and will be a part of one of the largest townships in India.
Shapoorji Pallonji Real Estate on Thursday said it will invest around ₹4,000 crore to develop a large mixed-use project in Pune as part of its expansion plan.
Shapoorji Pallonji Real Estate, which is the realty arm of business conglomerate Shapoorji Pallonji, has launched a 148-acre project 'VANAHA' near Bavdhan, West Pune.
"VANAHA will be developed with an estimated investment of around ₹4,000 crore," the company said in a statement.
The project will be executed in phases and will have more than 6,000 apartments on completion.
In the first phase, over 600 apartments have been launched. The residences are available between the price range of ₹39 lakh to ₹89 lakh.
Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate, said, "Pune is an important market for us and the addition of this large project fits well within our strategy of strengthening our presence across the country's leading real estate markets".