International property consultancy JLL India has closed a development deal between Bangalore-based Puravankara Projects Limited, Pune-based Oxford Group and Mumbai-based EKTA World, who will jointly develop close to 30 acre of prime residential land in Mundhwa, East Pune.
According to a press release, the arrangement structured by JLL India will yield an expected two million square feet of prime residential space.
Anuj Puri, Chairman & Country Head, JLL India, said, “In this joint venture, which brings into play the combined capabilities and expertise of three highly reputed real estate developers, the limelight falls squarely on one of Pune’s hottest real estate locations.”
From a residential real estate viewpoint, Mundhwa is now the location of choice for infotech employees from Pune’s IT hubs. Adding to the strategic value of this micro-market are major malls.
The project also marks the entry of South India’ developer Puravanakara Projects into the western market.
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