Hiranandani’s $240M Township in Pune

22 Feb 2025 CW Team

Mumbai-based Hiranandani Group has officially entered the Pune real estate market by sealing a joint development deal with Krisala Developers for a 105-acre integrated township project in North Hinjewadi.

The total land asset investment is valued at Rs 20 billion ($240 million), with an estimated revenue potential of Rs 70 billion ($840 million), according to a joint statement released.

The first phase, covering 30 acres, is set to deliver 3 million sq. ft. of residential, commercial, and retail spaces. Phase 1 investment is projected at Rs 5 billion ($60 million), with an expected turnover of Rs 21 billion ($250 million).

The township will feature apartments, villa plots, branded residences, and recreational amenities to enhance homebuyers’ lifestyles. The development aligns with Pune’s booming IT sector and improved connectivity with Mumbai, driving demand for premium housing.

“Mega infrastructure projects are establishing crucial last-mile connectivity between Mumbai and Pune, invigorating the dynamic MMR and Pune real estate markets. This connectivity directly addresses the aspirational living demands of migrating talent,” said Niranjan Hiranandani, Chairman, Hiranandani Group.

Founded 45 years ago, Hiranandani Group has delivered 48 million sq. ft. across various real estate segments, including data centers, industrial parks, and logistics hubs.

Aiming for sustainability, the township will maintain an air quality index (AQI) of 40, in collaboration with leading energy and resource institutes, said Aakash Agarwal, Managing Director, Krisala Developers.

With over 13 years in Pune’s real estate market and 2.3 million sq. ft. of completed projects, Krisala Developers brings local expertise, while Hiranandani Group lends its brand strength and execution capabilities.

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