Pune-based Gokhale Constructions, a two decades-old renowned real estate developer of large commercial complexes and premium residential spaces, has acquired a 3.5-acre land of Seth Hirachand Nemchand Smarak Trust in Model Colony, right in the heart of the city of Pune for Rs.311 Cr.
Gokhale Constructions has completed the process of purchase of Seth Hirachand Nemchand Smarak Trust’s Seth Hirachand Nemchand Digambar Jain Boarding, and plans to undertake the development of a 16 Lakh square feet, ultra-premium residential space along with high-end retail at this top-notch location with a revenue potential of Rs.2500/- Cr. Here, the price of a condominium would start from Rs.7 Cr onwards. This proposed development will also integrate a hostel spread across 51,000 sq ft with all modern facilities, making the existing Jain temple bigger and better.
Founded by Vishal Gokhale, a first-generation entrepreneur, Gokhale Constructions is currently in the process of developing a 2 million sq ft of residential space and about 3 million sq ft of commercial space at some of most prime locations in Pune.
The company has successfully completed over 200 residential projects in Pune and has given homes to more than 5000 families at central locations. The company is also eying to foray in Mumbai’s real estate market and is in the advanced stages of negotiations for closing the deals of properties at some supremely prime locations in Mumbai.
