Hiranandani Group Launches Rs 7,000 Cr Township in Pune | North Hinjewadi Real Estate

Joint Venture to Develop 105 Acre Integrated Township Over the Next Decade

Marking its entry into Pune’s booming real estate market, Mumbai-based Hiranandani Group has announced a large-scale township project in North Hinjewadi. The development, a joint venture with Krisala Developers, will span 105 acres and is expected to generate approximately Rs 7,000 crore in revenue over the next 10 years. The investment for the project is estimated at over Rs 2,000 crore.

Phase 1 to Cover 30 Acres with Rs 500 Crore Investment

The first phase of the township will span 30 acres and involve an estimated investment of Rs 500 crore. The projected turnover for this phase is expected to reach Rs 2,100 crore, with a minimum development potential of 3 million square feet (msf) of residential and commercial spaces.

A Strategic Revenue-Sharing Partnership

The project will be executed using a 50:50 revenue-sharing model between Hiranandani Group and Krisala Developers. Originally intended for sale, the land asset was instead retained for joint development, with Colliers India facilitating the deal. The township is set to feature a blend of residential apartments, villa plots, branded residences, commercial hubs, retail complexes, and recreational facilities.

Growing Infrastructure Connectivity Boosting Real Estate in Pune

Hiranandani Group Chairman Niranjan Hiranandani highlighted the impact of large-scale infrastructure projects that are strengthening connectivity between Mumbai and Pune. He noted that this enhanced connectivity is fueling real estate demand in both regions, particularly with Pune’s expanding IT hubs and the influx of skilled professionals.

A Sustainable Township with Advanced Air Quality Measures

Designed to cater to a diverse segment - including first-time homebuyers, second-home seekers, investors, and NRIs - the township aims to provide a high-quality living environment. Aakash Agarwal, Managing Director of Krisala Developers, stated that collaborations with leading energy and resource institutes would help maintain an Air Quality Index (AQI) of 40, ensuring a cleaner and healthier atmosphere for future residents.

News Disclaimer:This article is based on publicly available information and statements from company representatives. Readers are advised to conduct their own due diligence before making any investment or real estate decisions.