The city’s residential property market continues to strengthen as a leading real estate developer has joined hands with a landowner to develop a ₹700 crore premium housing project in Hinjewadi. The partnership marks the firm’s second major venture in Pune, reaffirming its strategic intent to expand in western India’s fastest-growing housing corridor.
According to the company’s official filing, the new project—spread across 0.7 million square feet—is positioned as a premium residential enclave targeting young professionals and families drawn to Pune’s technology and manufacturing hubs. With a projected gross development value (GDV) of around ₹700 crore, the development is expected to further fuel the region’s reputation as a real estate investment hotspot. The project will comprise approximately 6.5 lakh sq ft of built-up area, with modern amenities and design features that align with Pune’s increasing demand for sustainable, high-quality housing. Located in Hinjewadi—the city’s most active IT and startup destination—the project will cater to a growing population of urban professionals seeking well-connected, green, and self-sustained living spaces.
Company officials said that the decision to expand in Pune reflects the city’s “robust demand fundamentals,” underpinned by its thriving industrial ecosystem and expanding infrastructure network. The development forms part of the company’s broader diversification strategy, following the signing of another Joint Development Agreement (JDA) earlier this year for a 7-acre premium row housing project in North Bengaluru, with a GDV of ₹600 crore. In recent years, Pune has witnessed a sharp rise in new launches and absorption rates across both premium and mid-income segments. Market experts highlight that integrated projects such as this one in Hinjewadi play a crucial role in redefining urban growth, offering residents energy-efficient infrastructure and better connectivity to major employment centres.
The company, which already holds a significant presence in Bengaluru, Chennai, Pune, and Kolkata, has so far delivered 48 projects with a cumulative saleable area exceeding 28 million square feet. It currently holds a development pipeline of 39 projects with an overall potential of nearly 36 million sq ft, including 19 million sq ft under execution. Industry observers note that such developments underscore the growing trend of joint ventures and joint development agreements, which allow developers to scale up operations without excessive land acquisition costs while ensuring equitable returns for landowners. For cities like Pune, such projects also support balanced urban growth through planned, high-density residential infrastructure.
The new project is expected to begin construction shortly after receiving regulatory approvals, contributing to Hinjewadi’s transformation into a mixed-use, live-work-play urban zone that could become a model for sustainable metropolitan development in India.
Pune Set For Major Boost As Shriram Properties Unveils Rs 700 Crore Housing Project
