In a significant milestone for affordable housing in India, Planet Smart City, a global leader in the sector, in collaboration with Kolte-Patil Developers Limited, has almost sold out its flagship project ‘Universe’ in the Life Republic Township, Hinjewadi, Pune. The accomplishment marks a remarkable success, with over 88% of residential units and 91% of commercial units being sold as of the end of September 2023.
Universe, launched in December 2020, encompasses a total saleable area of 1.3+ million sq. ft. in residential units and 85,000 sq. ft. in commercial units. Despite challenges posed by the pandemic, the project is on track to achieve sales exceeding INR 900+ crores, demonstrating the robust dynamics of the residential housing market in Maharashtra.
Mr. Marco Pilia, Managing Director India at Planet Smart City, expressed, “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.”
The project’s success has garnered attention beyond India, with international investors in the GCC region recognizing its unique selling points and potential for property value appreciation.
Mr. Rahul Talele, Group CEO at Kolte-Patil Developers Ltd., highlighted, “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.”
The strategic partnership with ANAROCK Property Consultants has played a pivotal role in the project’s sales momentum. Aditi Watve, President – Residential Sales at ANAROCK Group, mentioned, “It has been an absolute pleasure to work with Planet Smart City on their first project in India.”
About Planet Smart City: Founded in 2015, Planet Smart City is a leading proptech company that designs and builds smart and affordable neighborhoods globally. The company’s mission is to create smart, inclusive, and sustainable communities by integrating innovative economic, ecological, and social solutions. With operations in Brazil, India, and Europe, Planet Smart City aims to become the world leader in smart, affordable housing projects.
About Kolte-Patil Developers Limited: Established in 1991, Kolte-Patil Developers Ltd. is a leading real estate company with a dominant presence in the Pune residential market and growing footprints in Mumbai and Bengaluru. Known for high-quality standards, design uniqueness, and timely delivery, the company has developed over 58 projects covering a saleable area of >26 million square feet.
