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Kolkata-based real estate group Merlin has announced its entry into the Pune residential and commercial real estate market with an investment of over Rs 2,000 crore, managing director Saket Mohta explained that it entered the Pune market through a project in Wakad. It will be completed in two phases with a completion time of four years. In fact, the Pune market is a growth corridor for IT and manufacturing units. Merlin is targeting the mid-end category of residential developments, with Wakad units expected to be priced between $650,000-$8.5 million. In addition, the company has identified properties in Baner, Koregaon Park and Jambhulwadi for an investment of Rs 2 billion in the Koregaon Park project, which is expected to be approximately 1,000 sq ft. Merlin’s core business is in the Kolkata metro area and has expanded to markets in other first- and second-tier cities across the country.
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