Realty company Kolte-Patil Developers Ltd has purchased a 7.5-acre land parcel in Pune to develop a housing project valued at approximately Rs 1,400 crore. According to a regulatory filing on Friday, the land is located in Bhugaon, Pune.

The forthcoming project will additionally feature an estimated saleable area of around 1.9 million square feet, with a gross development value (GDV) of about Rs 1,400 crore. However, the company has not disclosed the seller’s name or the acquisition cost of the land.

Commenting on the development, Rajesh Patil, Managing Director, Kolte-Patil Developers Limited said, “Foraying into a new high-potential micro-market through outright acquisition of this strategically located land in Bhugaon strengthens our presence in Pune. With growing demand accelerated by improving infrastructure and rising end-user interest, our presence in Bhugaon aligns with our strategy of delivering well-planned, value-driven developments. Backed by our deep understanding of evolving lifestyles and a legacy of over three decades, this addition reinforces our commitment to creating thoughtful communities that enable better quality of life.”

Kolte-Patil has successfully developed over 68 projects, including residential complexes, integrated townships, commercial spaces, and IT parks, totaling more than 30 million square feet of saleable area across Pune, Mumbai, and Bengaluru.

Recognized as one of India’s leading real estate developers, Kolte-Patil continues to expand its footprint with high-value residential and commercial projects.