Shapoorji Pallonji Real Estate, the real estate arm of Shapoorji Pallonji Group, is looking to develop a township in the Mumbai-Pune corridor. Additionally, it is looking to monetize its landbank over an anticipated 3,000 Acres across Maharashtra. The company plans to develop a series of plotted development projects over the next three to four years.
The group owns these land parcels in the Mumbai Metropolitan Region, Pune, and Nagpur. The company will develop a plotted township on an anticipated 900 Acres land parcel in the Mumbai-Pune corridor. Additionally, the project will have an estimated Gross Development Value (GDV) of 6,000 INR-Crore. The first 200 Acres is expected to contribute 1,800 INR-Crore to the overall development potential. Meanwhile, the company has invested worth nearly 1,500 INR-Crore in the project.
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Furthermore, Shapoorji township will be located in Khopoli, surrounded by hills and water bodies. The proposed development will primarily focus on wellness-related facilities, along with sports and adventure components planned as part of subsequent phases. Moreover, the group has finalized the master plan for the entire land parcel. It has also secured all key approvals for the first phase spread across 200 Acres. The first phase is scheduled for completion within 30 months.
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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, the image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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