This agreement follows the initial transaction of Rs 91 crore between the two companies announced in April this year, for monetization of ~5.42 acres in Sector R10 with residential development potential of 7.6 lakh sq. ft. based on saleable area. Aggregate value of both these transactions over two phases is Rs 172 crore.
Similar to the previous agreement, this land parcel in Sector R10 will be jointly developed by KPIT and Planet Smart City in the profit sharing model.
