PUNE: Shriram Properties Limited (“SPL”), a leading mid-market and mid-premium focused residential real estate developer, has signed a Joint Development Agreement (“JDA”) for the development of a ~0.7 million square feet (“msf”) premium residential project in the highly sought-after micro markets of Hinjewadi, Pune.

This marks SPL’s second project in Pune, underscoring its strategic intent to deepen its presence and establish a strong foothold in one of India’s most vibrant real estate hubs. The Company forayed into the Pune markets with its maiden project at Undri in May’25, which met with an encouraging response by selling over 55% of available inventory within six months of launch already.

The Company is now embarking on the second project in Hinjewadi, Pune, in the form of a high-rise mixed-use development that redefines urban living and lifestyle experiences. The project comprises 6.5 lakh sqft of premium apartments complemented by thoughtfully designed retail and commercial spaces, aggregating to a total saleable area of over 7 lakh sqft. The project has a GDV potential of ~₹700 crores.

Strategically located in a high-demand residential corridor, the product is designed to set new benchmarks in vertical living. The development will feature a Sky Clubhouse offering panoramic views of the city, exclusive leisure amenities, and social spaces that elevate the residents’ experience. With its strategic location, integrated design, and contemporary architecture, the project is envisioned as a landmark destination within Hinjewadi. The addition of this new project reinforces SPL’s commitment to geographical diversification and capital-efficient growth through asset-light development models.

Hinjewadi, known as Pune’s largest IT and business district, has emerged as one of the city’s most preferred residential destinations, driven by its robust employment ecosystem, excellent connectivity, and strong social infrastructure. The micro-market continues to attract both end-users and investors, with sustained housing demand supported by steady rental yields and proximity to the Hinjewadi IT Park, the Mumbai-Pune Expressway, and key educational and healthcare institutions.

With this project, Shriram Properties is further strengthening its portfolio in the western region, building on the encouraging response to its maiden project in Pune. The company remains focused on expanding its footprint across high-growth micro-markets of Pune while maintaining its leadership in South India’s mid-market housing segment.

Commenting on the development, Akshay Murali, Vice President – Business Development at Shriram Properties, said, “Pune continues to offer strong demand fundamentals driven by its thriving IT and industrial ecosystem. The signing of our second project marks an important step in our expansion strategy and reflects our confidence in the city’s long-term potential. We are excited to strengthen our presence in Pune. This latest addition aligns with Shriram Properties’ broader growth strategy to scale up its presence across key residential markets through partnerships and development alliances, while maintaining its focus on delivering value-driven, high-quality homes.”

The post Shriram Properties Expands Its Presence in Pune appeared first on NRI News.

The Company is embarking on mixed-use development, comprising 650+ apartments and some retail/commercial spaces with an aggregate saleable area of over 1.0 msf, to be developed over the next 4 years. The project has an aggregate revenue potential of approx. ₹700 – ₹750 crores. The Company is targeting to launch this project during H2-FY25. SPL envisions crafting a landmark residential project in this upcoming micro market of Pune. The project promises effortless access to IT/ITeS spaces, retail, premium educational institutions, and central parts of the city.

The Project also comes with an option for the development of an additional 8 acres, predominantly retail and commercial. SPL is in the final stages of securing development rights to this additional land, expected to be completed shortly.

Commenting on the development, Murali Malayappan, Chairman & Managing Director, of SPL, said, “This investment is consistent with our asset-light strategy for accelerated growth. Pune is a promising market, and we see significant potential for large, established brands like Shriram. Owing to its proximity to IT/ITeS, Undri has emerged as a vital micro market witnessing significant demand in recent years. We are looking forward to the project launch during this quarter and remain committed to delivering top-notch quality swiftly and ensuring utmost satisfaction for our customers”.

SPL has decided on an entry into the Pune market, as it is the second-largest residential market that has grown strongly in recent years. Pune is predominantly mid-market focused and benefits from customer demography that is similar to SPL’s core markets of Bangalore and Chennai. It is supported by diversified and buoyant economic activity and growing infrastructure investments.

This project acquisition is an integral part of SPL’s pursuit of accelerated growth, whilst remaining asset-light, over the next few years. The project will further fortify its strong project pipeline and support growth momentum going forward. SPL has a strong pipeline of 42 projects with 42 msf of saleable area, including 26 ongoing projects with 24.3 msf of saleable area as of June 30, 2024. Nearly 75% of ongoing projects are already sold and the Company has ‘zero inventory’ in completed projects.

The post Shriram Properties Signs JDA for a prime 6-acre land parcel in Pune appeared first on NRI News.

HINJEWADI: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it will develop ~11-acre land parcels in Hinjewadi, Pune.

The development on this land will comprise primarily Group Housing & High Street Retail. The project will have a developable potential of ~ 2.2 million square feet with an estimated revenue potential of ~ INR 1,800 crore *

The land parcel is strategically located near the upcoming Megapolis Metro Station and offers good connectivity to Major IT hubs in Hinjewadi, Pune along with access to schools, hospitals, malls, restaurants, and premium hotels.

Gaurav Pandey, MD & CEO, of Godrej Properties, said, “Hinjewadi is an important micro market for us in Pune and we are happy to add this land parcel to our portfolio. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build an outstanding gated community that creates long-term value for its residents.”

The post Godrej Properties To Develop Around 11-acre Land Parcel In Hinjewadi At Pune appeared first on NRI News.

MUMBAI: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it had acquired a ~4-acre land parcel near Koregaon Park, an upmarket residential area in Pune. The development on this land will primarily be a luxury group housing project. 

Koregaon Park has an established physical and social infrastructure. The location offers excellent connectivity to all significant social and commercial hubs of Pune city.  

Gaurav Pandey, MD & CEO, of Godrej Properties, said, “We are happy to acquire this land parcel in one of the most premium locations in Pune. The demand for luxury realty has been strong over the past few years. This will be our first luxury development in the city, and we will aim to build an outstanding residential community that creates long-term value for its residents.”  

*based on the current business assumptions. 

The post Godrej Properties acquires land for a luxury residential project at Koregaon Park in Pune appeared first on NRI News.