In partnership with leading Pune-based developer Kolte Patil Developers Private Limited, ICICI Venture acquired 80 acres of land in Wagholi, Pune to develop high-end residential villas and apartments. Wagholi abuts Kharadi, where MIDC is building Pune's second IT park. This area is expected to see huge growth in the years to come due to the city's large IT-related population.

Kolte Patil Developers is one of the best-known developers in Pune, having developed 4.5 mn sq. ft. since 1989. They are currently developing an additional 2 mn sq. ft. and have large land banks as well. ICICI Venture invested in the Company in 2006 through IAF-III to fund land acquisition and development of the project.