KUL Ecoloch is a mid-segment project, with offerings of 1BHK, 2BHK and 3 BHK apartments and total saleable area of more than 3 mm sqft. The township is a brownfield project with Phase 1 substantially delivered while Phase 2 and 3 currently under construction. It is located on the proposed link road between Hinjewadi and Baner and is well connected with these established markets.
Sanjay Grewal, CEO of Altico Capital mentioned that “The project location, specifications, sales and construction progress, promoter resourcefulness as well as significant track record of the KUL Group in the Pune market were the key drivers for Altico Capital’s investment in the project.”
KUL Group is one of the leading developers in Pune, having delivered residential and commercial projects totaling more than 8 mm sq ft. It is currently developing multiple projects in Mumbai and Pune markets with launched saleable area totaling more than 6 mm sq ft. Further, the group has funding relationships with various public sector and private banks, private equity investors and other financial institutions for developing its ongoing projects.
On the Pune market, Grewal commented that “Through this transaction, Altico Capital has further strengthened its presence in the Pune market. In the last couple of months Altico has concluded several transactions in Pune including the 240 cr investment with Marvel Realtors for the construction of a portfolio of projects followed by a Rs.180 crs transaction with Pharande for their L-Axis and Woods ville project on Spine Road.”
Altico Capital, an NBFC, sponsored by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, plans to deploy 3,000 – 4,000 crs on an annual basis into the residential and commercial real estate sectors across Tier-1 cities in India
Source: NewsVoir