Mumbai: A realty fund managed by Motilal Oswal Private Equity Advisors (MOPE) on Thursday said it has tied up with two realty players to develop a 16-acre land parcel in Pune.
The land, located at Somatane on the city outskirts, has an estimated development potential of 7 lakh square feet, MOPE said in a statement.
Its India Realty Excellence Fund has formed a joint venture along with realty players Supreme Universal and Mirchandani Group, it said.
The joint venture will build villas and apartments on the land parcel, it said.
The location is close to the employment generating hubs of Hinjewadi, Talegaon and Pimpri-Chinchwad, it added.