India, Oct. 10 -- Pune-based listed real estate developer, Kolte Patil, announced on October 10 that it has acquired a 7.5-acre land parcel in Bhugaon, near Pune, with a Gross Development Value (GDV) of Rs.1,400 crore.

According to the company, the land parcel has an estimated saleable area of 1.9 million sq ft.

The company, in a statement, said Bhugaon, Pune, is emerging as a desirable residential destination, with a blend of natural surroundings and excellent urban connectivity.

"This land parcel is surrounded by premium localities like Bavdhan and Kothrud, adjacent to the Mumbai-Pune Expressway and close to the Shivaji Nagar Railway station," the company said in the statement.

The company stated that major employment hubs are locat...