Peninsula to develop township in Nashik

Real estate player Peninsula Land Ltd (PLL), an Ashok Piramal Group company, plans to develop a township in Nashik shortly as part of its expansion plans. According to sources, PIL also plans to build a large commercial complex in the city.

PLL has purchased 90 acres of land along Gangapur Road (near Sula Wines) in Nashik, where its will develop the township, sources told Business Standard. The commercial complex is likely to be spread across 19 acres of land in the city, sources said.

The company claims to have developed approximately 3 million sq ft of real estate so far and another 20 mn sq ft are in various stages of planning and development.

PLL plans to expand its presence in Goa and Pune as well. PLL has been allotted two plots of land by Goa "" one spread over 170 acres to develop Biotechnology SEZs and another plot of 30 acres, to develop a gems and jewellery SEZ.