The Niranjan Hiranandani Group has made headlines with its latest venture into the Pune real estate market through a strategic joint development deal with Krisala Developers. This significant partnership will focus on developing 105 acres of land in North Hinjewadi, a prime location known for its rapid urban growth and connectivity. The project is expected to be executed under the Integrated Township Policy, which encourages mixed-use developments, combining residential, commercial, and retail spaces. This marks a pivotal expansion for the Hiranandani Group, reflecting their confidence in Pune’s booming real estate sector. The first phase of development will span across 30 acres, with ambitious projections to deliver around 3 million square feet of real estate. The estimated investment for this phase stands at approximately Rs 500 crore, with an anticipated turnover of around Rs 2100 crore. This ambitious project aims to provide a diverse range of offerings, including apartments, villa plots, branded residences, and various recreational amenities, all designed to enhance the living experience for potential homebuyers. Dr. Niranjan Hiranandani, the Chairman of the Hiranandani Group, emphasized the importance of infrastructure in connecting Mumbai and Pune, which is essential for attracting talent and addressing the growing demands for aspirational living in the region.
Strategic Location and Development Goals
The choice of North Hinjewadi for this development is notable, as the area has become a hub for IT and technology companies, attracting a workforce that seeks quality living spaces. Dr. Hiranandani noted that the ongoing mega infrastructure projects are significantly improving last-mile connectivity, which serves to invigorate the real estate markets in both Mumbai and Pune. This connectivity not only facilitates a smoother commute for professionals but also enhances the overall appeal of Pune as a residential destination. The increasing influx of skilled professionals into Pune has resulted in a robust demand for housing, further driving the growth of the real estate sector. The integrated township will cater to various demographics, from first-time homebuyers to investors and NRIs, ensuring diverse options that meet the needs of a wide audience. Additionally, the commitment to sustainability and environmentally conscious urban planning sets this project apart from others in the region. This initiative is expected to redefine the standards of integrated residential developments in Pune, combining luxury and sustainability in a single package.
Commitment to Sustainability and Community Well-Being
Aakash Agarwal, Managing Director of Krisala Developers, highlighted the project’s vision of creating a self-sustained ecosystem that prioritizes liveability and community well-being. The development aims to provide a healthier living environment for residents, emphasizing the importance of sustainability in modern urban planning. By collaborating with renowned energy and resource institutes, the project aims to maintain an air quality index (AQI) of 40, which is a significant commitment to ensuring the well-being of its residents. The township will feature thoughtfully designed spaces that encourage community interaction and a sense of belonging, which are increasingly important factors for homebuyers today. The innovative approach to urban design and community-focused amenities will attract a variety of residents and create a vibrant living environment. This joint venture between the Hiranandani Group and Krisala Developers not only capitalizes on the current real estate market but also sets a benchmark for future developments in Pune and beyond. As the demand for integrated living spaces continues to rise, this project is positioned to play a crucial role in shaping the future of urban residential development.
This ambitious project is poised to address the growing needs of diverse homebuyers while promoting sustainability and community well-being.
- The project spans 105 acres in North Hinjewadi.
- Phase I will cover 30 acres, offering 3 million square feet of development.
- Investment for Phase I is estimated at Rs 500 crore with a turnover of Rs 2100 crore.
- The township focuses on sustainability and community engagement.
- Designed to cater to a wide demographic, including NRIs and investors.
- Commitment to maintaining a healthy living environment with AQI standards.
