Sobha Developers to invest Rs. 250 crore in Pune project.

Bangalore-based real estate player Sobha Developers is expanding its footprints in Pune by developing new projects and tie ups with smaller developers. The company has targeted to develop over one million square feet of area primarily in residential space.

After developing three projects in eastern side of Pune, it is coming up with projects in the western suburb’s skyline indicating the rising demand of high end luxurious homes at Kothrud in Pune. To start of with, Sobha Developers is coming up with the total investment of Rs. 250 crore, the project will consist of three and four BHK apartments, duplex and a commercial lifestyle club.

'Our aim is to develop the company as one of the most trusted real estate player of Pune city. With three projects, we have built a strong reputation in city. Our plan is to develop over one million square feet of area in residential space in Pune in the next few years. We are also looking for joint ventures with local land owners for the projects. The Kothrud would be our fourth project in the city. We intend to reach million square feet sales milestone at the earliest. Development of that will also go hand in hand., said Surajit Chanda, Regional head, Sobha Developers. Since its foray into Pune market in 2007, the company has invested Rs. 300 crore in Pune. Our aim is to at 20-25 per cent on year-on-year basis.

BS