Latest News | Arvind SmartSpaces Buys 35 Acre Land in Pune for Rs 100 Cr

New Delhi, Feb 16 (PTI) Arvind SmartSpaces Ltd (ASL) has bought 35 acres of land in Pune for Rs 100 crore.

In a statement, ASL said it has finalised a binding agreement for an outright purchase of this land parcel at Bhugaon in Pune.

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The company will develop a luxury villas project with a development potential of 1.3 million square feet.

This will be the second residential project in the city.

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The company will fund the project with a mix of surplus from equity, internal accruals and fresh debt.

ASL has about 25 million square feet of real estate development across Ahmedabad, Gandhinagar, Bengaluru and Pune.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)