By Accommodation Times Bureau
An affordable housing project is going to develop in Pune for which Poddar Housing and Development has agreed to buy over 102 acres land. The company said in a filing to BSE that its auxiliary Poddar Habitat Pvt Ltd has executed an agreement to acquire a land from Autoline Industrial Parks Ltd admeasuring approx 102.5 acres at Chakan, Pune.
It further said the land would be acquired along with trunk infrastructure facilities, on deferred payment terms.
The filing also added that the company is initiating to build a residential affordable housing project at that location which will have a potential development of more than 8 million sq ft over a period of 8-10 years, an agency said.
The company will continue to expand its geographical presence with this acquisition in Tier II.