"Kolte-Patil inks deal for five-acre joint development in Pune."

Pune-based real estate developer Kolte-Patil Developers recently announced that it has entered into a joint development agreement for a residential project of about 1.1 million sq ft in Bhugaon, Pune. The project is expected to have a gross developable value (GDV) of ₹850 crore.

In a statement, the company said Bhugaon is emerging as a key residential destination in Pune, offering a blend of natural surroundings and strong urban connectivity. The project site is located near established premium residential markets such as Bavdhan and Kothrud, and enjoys proximity to the Mumbai-Pune Expressway and Shivaji Nagar railway station.

Commenting on the development, Rajesh Patil, Managing Director, Kolte-Patil Developers, said the transaction is in line with the company’s strategy to strengthen its presence in high-potential micro-markets aligned with evolving demand trends. He added that the Bhugaon project represents the next step in expanding the company’s portfolio through capital-efficient partnerships.