ABIL launches premium housing project in Pune.

ABIL, engaged in infrastructure, real estate and hospitality sectors, has launched a premium residential project called Avaanti Residences in the heart of Pune. Located at the Tilak Road and Bajirao Raod junction, the project's target audience is the business community of Maharashtra.

The Pune-based company is investing Rs. 130 crore in developing the property that excludes the land cost. It is aiming a sales revenue of Rs. 250 crore.

Spread over a two-acre complex, the 70m tower will comprise 17 floors and 33 apartments. The project offers three and four BHK apartments in 2,860 sq ft and 3,460 sq ft sizes and five BHK duplexes of 5,420 sq ft.

'We are happy to build a magnificent high rise in the heart of the city that will offer commercial and ultra premium residences at a strategic location,' Amit Bhosale, executive director at ABIL told Financial Chronicle.

Avaanti Residences has 17 floors with the first two floors dedicated to commercial spaces consisting of shops, offices and showrooms,' Bhosale said. With the base price of Rs. 16,000 to Rs. 17,000 per sq ft, the apartments will cost between Rs. 6 crore and Rs. 10 crore.

'We will also offer 20 commercial spaces, sizes of which range from 236 sq ft to 4,800 sq ft. These will be priced in the Rs. 30,000 to Rs. 32,000 per sq ft range,'
Bhosale said.

According to a company statement, work has already begun on the project and it will be ready for delivery in the next three years.

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