Kalpataru to Invest Rs 300 Cr in New Housing Project

Real estate firm Kalpataru Ltd will invest Rs 300 crore to develop a housing project in Mumbai as part of its plan to expand the business and tap rising demand for residential properties. The 2.4-acre project ''Kalpataru Park

BY Realty Plus
Published - Thursday, 18 Feb, 2021

Kalpataru to Invest Rs 300 Cr in New Housing Project

Real estate firm Kalpataru Ltd will invest Rs 300 crore to develop a housing project in Mumbai as part of its plan to expand the business and tap rising demand for residential properties. The 2.4-acre project ''Kalpataru Park Riviera'' at Panvel comprises over 400 apartment units. In the first phase, the company has launched 171 units with prices starting at Rs 73 lakhs. Apartments in the first phase will be ready for possession by June 2025. "The project is being developed at a cost of over Rs 300 crore, Kalpataru Ltd said in a statement. “Panvel is emerging as Mumbai Metropolitan Region''s new reality hub, due to its strategic location between the industrial hubs and business districts, and the enormous infrastructure development underway,"Kalpataru Ltd MD Parag Munot said. He said the housing demand has recovered on low-interest rates on home loans.

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