Planet Smart City, a leading global player in the affordable housing market integrating Proptech and ESG-compliant real estate solutions, has announced a near total sell-out of its flagship ‘Universe’ project in the Life Republic Township in Hinjewadi, Pune, in partnership with Kolte-Patil Developers Limited (KPDL). As Planet Smart City’s first development in the country, this milestone signifies an extraordinary achievement, with more than 88% of residential units and 91% of commercial units being sold as of the end of September 2023.
‘Universe’, the first project launched by Planet Smart City in India in December 2020, boasts a total saleable area of 1.3+ million sq. ft. in residential units and 85,000 sq. ft. in commercial units. Despite the challenges posed by the pandemic’s second wave, ‘Universe’ is already poised to achieve a total of INR 900+ crores in sales. This exceptional achievement comes from the great dynamics of the residential housing market in Maharashtra and to the tremendous response from homebuyers who value the extensive facilities and innovative smart solutions implemented throughout the project by Planet Smart City.
The project's success has extended beyond the borders of India, as international investors in the GCC region are responding to its unique selling points and potential for property value appreciation.
Marco Pilia, Managing Director India at Planet Smart City commented, “The successful sell-out of our first project in India is an incredible achievement for Planet Smart City globally. This performance is a great testimony to our business model and value proposition. Collaborating with best-in-class developers in India allows us to deliver high innovation in the residential market, remaining future-proofed and well within the right budget range for our customers."
Rahul Talele, Group CEO at Kolte-Patil Developers Ltd. added, "The strong customer acceptance of the Universe project is yet another validation of Kolte-Patil’s ability to bring innovative real estate solutions to the Indian market. Collaborating with brands of international repute in the real estate space, enable us to create deep value for customers with focus on sustainability and smart solutions. Universe project has been created as an urban living paradigm that imbibes two prominent trends of our time: PropTech and ESG. Going forward, we remain confident that the success of this project will be replicated across a wider canvas in our portfolio."
The project’s sales momentum has been ably supported by the important strategic partnership with ANAROCK Property Consultants, who have significantly contributed to its commercial success.
