Gera Developments to invest Rs 1,100 cr on wellness-centric housing project in Pune

New Delhi, Nov 16 (PTI) Realty firm Gera Developments will invest about Rs 1,100 crore to develop a new housing project in Pune as part of its expansion plan.

In an interview with PTI, Rohit Gera, Managing Director of Pune-based Gera Developments Pvt Ltd, said the company has entered into wellness-centric homes, starting with an 8-acre upcoming project in Pune.

"We have roped in Bollywood actor Hrithik Roshan as brand ambassador for Gera's WellnessCentric Homes," he added.

Elaborating on the first wellness-centric project, Rohit said the company will develop around 1,000 flats in the two phases of this 8-acre project.

In the first phase, the company will launch around 500 units for sale, with a starting rate of around Rs 1.25 crore per unit.

Asked about the project cost, Rohit said the investment would be around Rs 1,100 crore, including land.

The land cost is fully paid, and the company plans to meet the construction cost from internal accruals.

"We are planning to develop six more wellness-centric housing projects within the next few years," said Rohit.

In the first wellness-centric housing project, residents will have access to yoga and pilates sessions, aqua aerobics, nutrition consultations, personal fitness coaching and community wellness initiatives delivered through partnerships with wellness experts.

"From child-centric to wellness-centric Homes, Gera Developments continues its journey of transforming homes from static spaces to intuitive ecosystems that enable residents to thrive," said Rohit.

He noted that the construction cost of a wellness-centric project would be slightly higher than that of a regular housing project.

Gera Developments has a presence in Pune, Goa and Bengaluru property markets.

At present, five projects are under construction, of which four are housing. PTI MJH BAL BAL