Colliers India, a leading global diversified professional services company, recently facilitated a significant Joint Development land deal in Pune between two prominent real estate developers, Hiranandani Group and Krisala Group. The land asset, spanning 105 acres, is located in North Hinjewadi, Pune, and is owned by Hiranandani Group. While the Group was initially looking to sell, the Colliers team advised that a Joint Development would be in the best business interests of both parties. Employing their nuanced and well-crafted capabilities in structuring complex deals, the Colliers experts developed an equal Joint Development solution for a mixed-use development that would warrant a lower outgo and maximized profits, ensuring an accretive outcome for both parties.

According to Dr Niranjan Hiranandani, Chairman, Hiranandani Group, ""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. Pune's real estate sector is experiencing robust growth, propelled by its booming IT hubs, outstanding connectivity, and an influx of skilled professionals. The seamless connection between these two major business cities has opened unprecedented opportunities for real estate development."" He additionally stated, “The Indian real estate landscape is evolving rapidly, and it's clear that innovation and strategic collaboration are essential to achieving exponential growth.”

Sagar Agarwal, Promoter – Krisala Group, adds “We are extremely delighted to have an opportunity to partner with Hiranandani Communities in Pune Market. With Krisala's on-ground expertise, strong know-how of Pune market and a mentor like Dr Niranjan Hiranandani, the proposed township will be one of its kind with unique design, quality product and timely delivery. Overall, it will be first of its kind development in Pune city”.

“We are pleased to announce the successful conclusion of a Joint Development deal between Hiranandani Group and Krisala Group. Our Capital Markets teams with deep market knowledge and handling complex business structures, could create value for all stakeholders. The mixed-use development will certainly go on to be a landmark establishment for the city of Pune, given the industry reputation and credibility of both the developers.”, said Piyush Gupta, Managing Director, Capital Markets & Investment Services, Colliers India.