Hiranandani's Mega Move: Rs 7,000 Cr Township Rises in Pune

Mumbai-based Hiranandani Group has announced its foray into Pune through a joint development project in North Hinjewadi, with an estimated value of Rs 7,000 crore. Spanning 105 acres, this integrated township is being developed in partnership with Krisala Developers, based on a 50:50 revenue-sharing model. The project will include a mix of residential, commercial, and retail spaces.

The land investment totals Rs 2,000 crore, with the first phase covering 30 acres and requiring Rs 500 crore in funding. This phase is expected to yield 3 million sq. ft. of real estate space. Initially, the Hiranandani Group had considered selling the land but chose a joint venture instead, with Colliers India facilitating the arrangement. The township will feature a variety of residential options, including apartments, villa plots, branded residences, and leisure facilities.

Chairman Dr. Niranjan Hiranandani highlighted how infrastructure developments connecting Mumbai and Pune have significantly boosted the real estate markets of both cities. The Hiranandani Group is exploring additional expansion opportunities in Pune and is keen to collaborate on future ventures.

News by Rahul Yelligetti.