Akruti Plans Rs 1,500cr for Pune Realty

October 25, 2007	(Be the first to rate this story!)  Loading ...
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Akruti City (formerly known as Akruti Nirman), a prominent name in Indian real estate is considering expanding its activities in Pune by developing high end buildings to cater to commercial as well as residential requirements, IT Parks, and Special Economic Zones (SEZs).

The company has already started the development of a SEZ for IT sector in a joint venture with DLF, the real estate major. The project will come up at Hinjewadi near Pune.

The first phase of the project is already sold, informs Hemant Shah, Chairman, Akruti City. The company holds a land bank of around 150 acres around Pune and will commission a multitude of other real estate projects which are schedule to be completed over the next three years, says Shah.

The total area of development will be around 12 million sq ft for which a capital of Rs 1,500 crore is planned, he adds.

Akruti City plans to enter high growth property markets of Bangalore, Delhi, Gurgaon, and Gujarat. The land acquisition in these markets is being actively pursued and some projects are likely to be announced in near future.

News Published Under:   Real Estate Developers |

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