Hiranandani Group Joins Hands for INR 7,000 Crore Township Development in Pune

Mumbai-based Hiranandani Group has announced its strategic entry into Pune with a joint development venture in North Hinjewadi. The ambitious INR 7,000 crore integrated township is being developed in collaboration with Krisala Developers, following a 50:50 revenue-sharing model. This large-scale project aims to redefine urban living with a mix of residential, commercial, and retail spaces.

Massive Investment in Land and Infrastructure

The total investment in the land asset stands at INR 2,000 crore, with the first phase of the development spanning 30 acres and requiring INR 500 crore in investment. This phase alone will contribute three million sq. ft. of real estate space, catering to the evolving demands of Pune’s growing urban population.

Shift from Land Sale to Joint Venture

Initially, Hiranandani Group considered selling the land asset but later opted for a joint development approach, facilitated by Colliers India. This strategic shift allows for greater control over the project’s vision and execution, ensuring that the township aligns with Hiranandani’s legacy of quality and innovation.

A Township with Modern Infrastructure and Premium Living Spaces

The proposed township will feature a mix of apartments, villa plots, branded residences, and state-of-the-art recreational amenities. Designed to cater to premium homebuyers and businesses, the development aims to offer a comprehensive urban ecosystem with world-class facilities.

Infrastructure Development to Strengthen Mumbai-Pune Connectivity

Commenting on the project, Dr. Niranjan Hiranandani, Chairman of Hiranandani Group, highlighted the infrastructure advancements that are enhancing connectivity between Mumbai and Pune. He emphasized that these improvements will not only boost the real estate market in both cities but also create new opportunities for investment and development.

Future Expansion Plans in Pune

Beyond this township, Hiranandani Group is actively exploring new opportunities for expansion in Pune. The company is open to further joint ventures and collaborations, ensuring its long-term presence in one of India's fastest-growing real estate markets.

Key Highlights:

• Hiranandani Group enters Pune with a joint development venture in North Hinjewadi.
• INR 7,000 crore project developed in partnership with Krisala Developers under a 50:50 revenue-sharing model.
• Total land investment of INR 2,000 crore, with the first phase covering 30 acres and requiring INR 500 crore investment.
• Township to feature residential, commercial, and retail spaces, including branded residences and villa plots.
• Colliers India facilitated the transition from a land sale to a joint venture.
• Dr. Niranjan Hiranandani highlights infrastructure improvements boosting Mumbai-Pune real estate.
• Hiranandani Group is open to further expansion in Pune, exploring new development opportunities.

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