After it charmed Mumbai and Thane residents, Niranjan Hiranandani Group has announced its much-anticipated entry into the Pune real estate market through a strategic joint development agreement with Krisala Developers.
The site for the real estate giant is in tech hub of Pune that is Hinjawadi. Under the Integrated Township Policy, a 105-acre land tract in North Hinjewadi would be developed for residential, commercial, and retail uses.
The land asset has a total investment value of Rs 2,000 crore, with an estimated future revenue of Rs 7,000 crore. It is projected that the 30-acre first phase of the project will yield roughly 2 million square feet of real estate space. In the first phase alone, an estimated Rs 500 crore will be invested, with an expected earnings of Rs 2,100 crore.
The planned development would include apartments, villa plots, branded houses, and a range of recreational activities to give buyers a complete living experience. By fusing the extensive industry experience of the Hiranandani Group with the local expertise of Krisala Developers, this strategic collaboration guarantees a seamless approach to site development, approvals, and implementation.
The chairman of the Hiranandani Group, Dr. Niranjan Hiranandani, discussed the development and emphasized how real estate is affected by large-scale infrastructure initiatives. "Real estate growth in both Mumbai and Pune is being driven by improved connectivity between the two cities. Unprecedented development opportunities have been created by Pune's thriving IT hubs, excellent connectivity, and the influx of skilled professionals," he said.
In order to achieve sustained growth in the Indian real estate industry, he also emphasized the significance of innovation and strategic partnerships.
