Kolte-Patil, JP Morgan-backed Metropolitan Lifespace in deal to redevelop Mumbai housing project

Kolte-Patil, JP Morgan-backed Metropolitan Lifespace in deal to redevelop Mumbai housing project

Pune-based real estate firm Kolte-Patil Developers Ltd on Friday said it had entered into an agreement with Metropolitan Lifespace Real Estate Developers Pvt. Ltd, an entity managed by JP Morgan Asset Management, to jointly redevelop a housing project in Mumbai’s suburbs.

As part of the agreement, Metropolitan Lifespace will invest Rs 120 crore into the redevelopment project titled Jay-Vijay Society at Mumbai’s Ville Parle area, Kolte-Patil said in a filing to the BSE.

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