Realty developer Kalpataru has concluded a revenue-share agreement with an Indian Hume Pipe Company to develop an over 2.3 million sq ft mixed-use project on a nearly 15-acre land parcel in Pune's Vadgaon locality.
The company is planning to invest around Rs 1,000 crore in this project to be developed in two phases over the next 6-7 years.
The developer's subsidiary Kalpataru Gardens had earlier signed a memorandum of agreement for this development. The pact has now been revised and the developer's revenue share in the project is now increased to 67.50% from 66%, while Indian Hume Pipe Company will get the balance share.
Posted By
Ruchi Mane
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Ruchi Mane is the Senior Editor at Houssed, leading the platform’s real estate news coverage. She tracks trends in India’s luxury property market while overseeing editorial strategy, PR outreach, and social media communication.