The first phase of this 400 acre township will be launched on December 9.
Kolte-Patil Developers Limited, one of the leading real estate developers in the country, unveiled a modern township, ‘Life Republic’, near the IT hub at Hinjewadi in a press conference held on December 7.
The first phase of this 400 acre township which is being developed under the Special Township Policy of the Government of Maharashtra will be launched on December 9. The total investment for the first phase will be about Rs600 crores. ICICI will be funding 49% of the project.
The township which has been designed by a mixture of national and international architects will be constructed in three phases. “As we have taken a cluster approach in constructing the township, the apartments and villas of phase I will be ready for possession from 2014 onwards,’’ said chairman and managing director of Kolte-Patil Developers Limited Rajesh Patil.
The first phase will consist of overall development and construction of about 2.5 million square feet consisting of 1/2/3/4 BHK apartments and 3/4/5 bedroom villas.
A school, healthcare facility, convenience retail, facilities for art, culture and sports are among the facilities included.
“Our team has really tried hard to refine each and every aspect of an integrated township development to offer best in class community living,’’ said Patil.
The size of apartments at ‘Life Republic’ ranges between 600-3,000 square feet, whereas the size of the villas would be in the range of 2,500-5,000 square feet. The budget of the houses range from Rs25 lakh to Rs5 crore.
“One of the main features of ‘Life Republic’ is the style in which the infrastructure and the social infrastructure is being developed,’’ said Sujay Kalele, vice president (Business Development). The nerve of this township would be its ‘Spine Boulevard’ (the main internal road) which would be nearly as wide as the Pune-Mumbai Expressway. A special pedestrian’s corridor, cycling track and plantation belt will be part of the infrastructure.
Sunita Kolte, executive director and Vijay Sane, project director of Kolte-Patil I-Ven Township (Pune) Private Limited were also present.
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