In partnership with leading Pune-based developer Kolte Patil Developers Private Limited, ICICI Venture acquired 240 acres of land in Hinjewadi, Pune to develop an integrated township. Hinjewadi is the site for MIDC's IT park, and is home to most of India's large IT companies, such as Infosys and Satyam. This would be the first and largest such township in Pune and is expected to alter the real estate landscape in the city.

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.