Poddar Housing & Development To Buy 102.5 Acres Land In Pune

The company is proposing to build a residential affordable housing project at the same, having a potential development of more than 8 million sq ft over a period of 8-10 years.

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Poddar Housing & Development To Buy 102.5 Acres Land In Pune

Poddar Housing and Development has agreed to buy 102.5 acres land in Pune to develop an affordable housing project. In a filing to the BSE, the company said that its subsidiary Poddar Habitat Pvt Ltd has executed an agreement to acquire a land admeasuring approx 102.5 acres at Chakan, Pune from Autoline Industrial Parks Ltd.

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The land would be acquired along with trunk infrastructure facilities, on deferred payment terms, it said. Autoline Industrial Parks is a subsidiary of Autoline Industries Ltd.

The company is proposing to build a residential affordable housing project at the same, having a potential development of more than 8 million sq ft over a period of 8-10 years, the filing said.

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With this acquisition, the company continues to expand its geographical presence in Tier II cities in addition to presence in Mumbai region.

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Source Link- https://www.moneycontrol.com/

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