Pune Skyline Set for Transformation with Tribeca 8 Lakh Sq Ft Development
Pune’s real estate sector is poised for a significant boost as Tribeca Developers, renowned for bringing the Trump brand to India, has announced the launch of a mixed-use project in Lullanagar, near the New Command Hospital at Pune Cantonment. The upcoming development, spanning 8 lakh sq ft, is projected to generate over ₹1,000 crore in revenue, reinforcing Pune’s position as a key investment destination.
In collaboration with Serianee Corrp—a consortium of Siddhivinayak Groups, Vision Skylish Group (VSG), and Kalash Properties—Tribeca’s latest venture will feature two iconic towers alongside premium retail spaces. The land for this landmark project is owned by Manikchand Group and Siddhivinayak Groups, marking a strategic partnership aimed at reshaping Pune’s luxury real estate market.
Kalpesh Mehta, Founder of Tribeca Developers, highlighted Pune’s importance in the company’s expansion strategy, noting the city’s strong demand for high-end residential properties. “Our focus has always been on crafting landmark projects that redefine luxury living. Pune has been a cornerstone market for us, and the remarkable success of our previous developments reinforces our commitment to creating another architectural marvel,” he said.
A Testament to Pune’s Real Estate Boom
Pune’s real estate market has witnessed robust growth, with property registrations surging by 25% in 2024 to reach 1,90,025 transactions, up from 1,52,323 in the previous year. Revenue collections from these registrations have also jumped by 33%, amounting to ₹7,098 crore, as per data from the Maharashtra Inspector General of Registration (IGR). In December 2024 alone, Pune recorded 17,348 property registrations, an 18% increase year-on-year, while revenue collections grew by 11% to ₹620 crore.
This upward trend underscores the increasing demand for both residential and commercial spaces, driven by improved infrastructure, rising employment opportunities, and a growing urban population. With major developers expanding their footprint in Pune, the city is cementing its status as one of India’s most lucrative real estate markets.
Sustainability and Urban Development at the Core
As Pune’s real estate sector expands, the emphasis on sustainability has become more pronounced. Developers, including Tribeca, are integrating green building initiatives, energy-efficient designs, and eco-friendly materials into their projects to align with global ESG standards. The upcoming development at Lullanagar is expected to incorporate sustainable elements, such as rainwater harvesting systems, solar power integration, and green landscaping, to enhance environmental resilience.
Pune’s civic authorities are also actively working towards improving public transport, road networks, and waste management systems to accommodate the city’s rapid urbanisation. The ongoing metro expansion and road infrastructure projects are expected to complement developments like Tribeca’s, ensuring that Pune remains a well-planned and sustainable urban hub.
Tribeca’s Expanding Presence in India
Beyond Pune, Tribeca Developers is scaling its operations across India, with six new projects in the pipeline spanning Gurugram, Noida, Mumbai, Hyderabad, and Bengaluru under the Trump brand. These ventures collectively cover 8 million sq ft and hold a sales potential exceeding ₹15,000 crore. Currently, Tribeca is developing over 6 million sq ft of branded residences with a total sales value of ₹6,000 crore, backed by leading financial institutions such as ICICI Bank, HDFC Capital, Tata Capital, and KKR.
The partnership with Siddhivinayak Groups is another testament to Tribeca’s commitment to delivering world-class developments. Rushabh Sakla, representing Serianee Corrp, stated, “With a 38-year history and more than 28,000 homes delivered, we wanted to create something truly iconic in Pune. Collaborating with Tribeca Developers is a milestone for us, and we believe this project will set new benchmarks for luxury and urban living in the city.”
With Pune’s real estate sector showing strong signs of continued growth, projects like Tribeca’s mixed-use development in Lullanagar are expected to shape the city’s future skyline while offering lucrative investment opportunities.
