Pune: Hiranandani Group Enters Pune Real Estate Market with Rs 7,000 Crore, 105-Acre Township Project in North Hinjawadi
Pune/Mumbai (Maharashtra), February 20, 2025: Hiranandani Group has officially entered the Pune real estate market through a joint development agreement (JDA) with Krisala Developers. The agreement involves the development of a 105-acre integrated township in North Hinjawadi, under the Integrated Township Policy. The total investment for the project is valued at Rs 2,000 crore, with an estimated revenue potential of Rs 7,000 crore.
Project Overview
The integrated township will comprise residential, commercial, and retail spaces, catering to homebuyers, investors, and businesses alike. The first phase of the project spans 30 acres, with an estimated investment of Rs 500 crore and a projected turnover of Rs 2,100 crore. The development will feature:
- Apartments, villa plots, and branded residences
- Recreational amenities to enhance community living
- Sustainability-focused urban planning, aiming for an air quality index (AQI) of 40
The joint venture aims to combine the local expertise of Krisala Developers with the brand strength and execution capabilities of Hiranandani Group. Both companies will share a 50% equity stake in the project.
Hiranandani’s Expansion into Pune
Niranjan Hiranandani, Chairman of Hiranandani Group, emphasized Pune’s strong real estate market, driven by:
- Booming IT hubs
- Improved connectivity with Mumbai
- Growing demand from skilled professionals and investors
He added, “Mega infrastructure projects are enhancing last-mile connectivity between Mumbai and Pune, making this an ideal time to invest in Pune’s real estate market.”
Krisala Developers’ Perspective
Aakash Agarwal, Managing Director of Krisala Developers, highlighted that the township is designed as a self-sustained ecosystem, focusing on liveability, community well-being, and environmental consciousness. The project is expected to attract first-time homebuyers, second-home seekers, NRIs, and investors.
Future Plans & Industry Trends
The RERA approval process is currently underway, and the project launch is expected in the next 3-4 months. Hiranandani Group has also announced plans to develop additional projects in Mumbai, Chennai, and Alibaug.
With this strategic collaboration, Hiranandani and Krisala aim to redefine Pune’s real estate landscape, offering premium housing and commercial spaces within an integrated township model.
