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Monday, May 19, 2008

Kolte Patil Developers' to launch integrated townships and SEZs at Hinjewadi, Wagholi and Kharadi in Pune

1) 400-acre integrated township at Hinjewadi:

Kolte-Patil Developers Limited (KPDL) has formed a Joint Venture with ICICI Venture Funds Management Co. Ltd. (ICICI Ventures), the largest venture capital fund, promoted by largest private sector bank of the country to develop a 400-acre integrated township project near Hinjewadi.

Phase I of 168 acres of this project has been approved by the Government of Maharashtra, and is designed by the renowned architect B V Doshi.

Residential and Commercial: The project will be a mix of residential and commercial spaces with a total investment of Rs 2000 crore.

Launch: The 1st phase of the project is expected to launch in the fourth quarter of FY '09.

2) 70 acre IT-SEZ Hinjewadi, Phase III:

KPDL also plans to launch an IT-SEZ close to Phase III of Hinjewadi IT Park by the end of this calendar year. The SEZ will be spread over an area of 70 acres with a total investment of Rs. 1000 crore.

3) Coming Soon - Mini Township at Wagholi:

KPDL is soon launching 1st Phase (53 acres) of total 80 acres Community Mini Township at Wagholi, Pune with an investment of Rs 400 crores.

4) Office park at Kharadi:

KPDL has plans to launch an ultra modern office park complex at Kharadi, Pune. The project will have a total saleable area of 8.50 lakh sq. ft. with an investment of Rs 250 crores.
Moneycontrol India


  1. Hey Ravi,

    I have been reading your blogs for a long time now. It has been very informative and helped a lot of my friends and relatives on buying decisions. Keep up with the good work.
    I am about to book a flat at Megapolis. But on reading about Kolte patil I am confused. I am looking at a good investment with time frame of 5-7 years. I have not planned to stay for now, but may change my mind after a few years.
    So should i wait for Kolte patil or book a 3Bhk at Megapolis.
    When is the Kolte patil township going to be launched? Is it Fourth quater of FY' 08 or FY' 09 ???

  2. Kolte Patil is a crook.Never buy a property in their township. They promise lot of things at the time of booking but go back on their commitments at the time of possession.

  3. They are offering pre-launch price of Rs. 2500/- psft. Is it good?

  4. If the joint venture was formed in 2008, why has the project not taken off yet? Why was it stalled for the past two years? I believe Kolte Patil is offering pre-launch rate of 2500 for apartments and 2850 for row houses/twin bunglows - is it a good rate, considering it will take a few years before that area becomes liveable?

  5. I called them yesterday,I was told the rate as 3150/-(Pre Launch). The township will be launched in Dec 2010. The location will be promising as Marunje road is proposed 120 feet and will be fastest route to Hinjewadi from Mumbai. The area is much promising than Megapolis. Even at 3150/-, i guess it will be good bet. I assume appreciation in couple of years. Kolte Patil delivered all products satisfactorily in recent times

  6. I want to book a 3BHK aparrtment at Kolte Patil I-Ven township. They are asking rate of Rs 2525/sqft. Possession is 2.5 years. They are planning to launch it on Dec end or Jan 1st week, right now they are constructing their sales office and model flat. It will be completed by dec end. I saw activities going on at site. Rs 2525 is the prelaunch offer

  7. Does anybody have information on how this township project compares with Paranjpe-BlueRidge and Megapolis ? It will be great if a detailed comparison is available - Tushar Jogdand

  8. Hi, I have booked a 2 BHK in this project @ 2575psf. Currently the prices @ Megapolis are 3200 + floor rise and at Paranjape its around 4000psf.

    One of the things i liked about Kolte Patil's project is its location which is very strategic. It has connectivity directly from the Mumbai - Pune expressway, so you don't have to take the internal Hinjewadi road to get to the project. The distance from the expressway is around 3 -4 kms. There is lots of space for future development around that place, whereas i felt that Paranjape doesn't have anywhere further to go as the river is right next to its project. As with Megapolis, the mountain is right behind the project, so again, there's no scope for future development. Kolte Patil is equidistant from Hinjewadi Phase 1 & 2, so that's why i call the location strategic.

    Apart from that, the builder is great, and this particular project is a tie-up with Icici Ventures. And at this price its a very very viable price when compared to othe projects in the same area and even when compared to Wakad and the adjoining areas, 2575psf is a great price!!

    Best of Luck and I hope you decide to buy like i have.

    Ashish Jha

  9. I was quoted Rs.1 Cror for 4BHK twin bungalow 2 months ago.

    I think it is great location for it proximity to IT park, to be built education insititutes in Nere area and being able to hop on to express way.

    I wish I could have bought two. Looks like they are running behind on their launch by 1 month.

  10. Hi, I wasn't able to contact the builder and they don't have anything abt this project on their website. Can someone give me a contact number and site address to book I-Ven Hinjewadi project.


  11. Hi Chandra,

    They haven't officlly launched it as they are awaiting final approvals/ clearances from the relevant authorities. The last time i spoke to them i was told that it may take another month for the official launch.

    There is some info on ICICI Ventures website (this project is a tie-up with them) @ http://www.iciciventure.com/townships.html.

    There's some minor info on Kolte Patil's website as well. But yes if you're looking for details about the project/ floor plans etc, that is not on their website yet.

    Ashish Jha

  12. i have booked a 2bhk flat in dec 2010 .it was told that the project will launced on 10 dec 10 and possession is in dec 2013.today it is may 11 and kolte patil Representative are still not in the condition to tell us wid confidece that when they are going to launched the project.
    i am worried and hope that they will launched it soon .
    i have seen the sample flat and i was satisfied wid the construction but till now it is not clear about the specification about flat like bathroom fitware,granite work every thing is in dilemma in the name of "PRELAUNCHED OFFER"
    HOPE every thing will com on the surface in next few week.

  13. KPDL is doing KLPD it seems. 2008 ka 2011 ho gaya abhi. Why do we get blinded only by the low rate & book when there is not even a brochure for the project!!??
    Just think if whatever appreciation you get on your property is worth all the sleepless nights.