Following the recent launch of our smart advisory services in India, our real estate first project in the country is to enhance the Life Republic township with our technological expertise and social innovation programmes. We are confident our model of affordable smart cities will meet the demands of Indian people looking to improve their quality of life.
The project is in partnership with leading BSE-listed Indian real estate developer, Kolte-Patil Developers Limited, and work is expected to begin in Q3 2020. The development will comprise of circa 1,000 affordable apartments over an area of 21,000 square metres within the existing township. Planet will provide smart affordable homes by integrating modern functional design with environmental solutions and Internet of Things (IoT) technology.
Residents will have access to a wide range of shared services, designed to improve quality of life and strengthen the community. These services will be powered by the free Planet App, through which residents can also control services in their smart homes, interact with the sharing economy and engage with each other to coordinate community activities.
Communal outdoor exercise class at Life Republic in Pune
With a growing population, according to the Royal Institution of Chartered Surveyors (RICS), India currently has one of the top five most pronounced housing shortages in the world and will need to build 25 million additional affordable housing units by 2030. The expansion into the Indian market supports Planet’s ambitious plans to develop 30 large-scale residential projects by the end of 2023, tackling one of the most pressing global issues.
Giovanni Savio, Global CEO of Planet Smart City, said: “We are delighted to launch, in partnership with Kolte-Patil Developers Ltd (KPDL), a very innovative project, building the first smart development accessible for the aspirational housing market, in Pune. Thanks to our digital platform, we will integrate an array of services, offering superior quality for our residents. The relevance and the volumes of the Indian market are key for Planet’s mission. KPDL immediately understood our multi-disciplinary approach and our investment with them represents the best possible way to launch our real estate operations in India.”
Gopal Sarda, Group CEO of Kolte-Patil Developers Ltd, said: “We are happy to partner with a global real estate developer like Planet Smart City. Another tie-up with a global brand allows us to benchmark our governance, operational excellence and product innovation standards. Life Republic, being our flagship integrated township project in Pune, continues to witness strong demand both in the launch as well as sustenance phase. The performance of project benefits from contemporary product offerings and best-in-class physical as well as social infrastructure.”