Kolte-Patil Developers (KPDL) is implementing a redevelopment project at Khar (West) in Mumbai.
The Pune-based company would redevelop Link Palace Premises Co-operative Society Limited, which is spread over a 1,594-sq m plot with a total developable area of about 0.1 million sq ft.
With this project, the real estate developer has set foot in the thriving real estate market of Mumbai.
With a steep rise in the demand for property redevelopment in Mumbai and with the redevelopment market opening up with recent amendments in the Development Control rules, KPDL estimates substantial returns through this route.
Kolte-Patil Developers has also identified areas such as the Dadar-Chembur belt, Worli, Mulund and the Khar-Bandra-Santacruz areas as possible locations for their future redevelopment plans.