Hiranandani Group has announced its entry into the Pune real estate market with a ₹7,000 crore joint venture project, marking a significant milestone in the city’s rapidly growing real estate sector. The company will develop a 105-acre integrated township in North Hinjewadi in collaboration with Krisala Developers, using a 50:50 revenue-sharing model. The total investment for the land asset is valued at ₹2,000 crore, and the first phase of the project will cover 30 acres with an investment of ₹500 crore, expected to generate a turnover of ₹2,100 crore. The township will feature residential apartments, villa plots, branded residences, commercial and retail spaces, as well as recreational amenities, making it a self-sustained ecosystem under Pune’s Integrated Township Policy.
The Hiranandani Group originally planned to sell the land asset but instead chose a joint development strategy. The deal was facilitated by Colliers India, a leading real estate consulting firm specializing in commercial real estate and investment management. This move aligns with the growing demand for integrated townships in Pune, where buyers are increasingly looking for sustainable and well-connected developments that offer a combination of work, living, and leisure spaces.
Pune continues to emerge as one of India’s most promising real estate markets, driven by its expanding IT sector, strong infrastructure growth, and increasing workforce migration. According to Anarock Research, Pune recorded a six percent decline in housing sales in 2024, with 81,090 units sold, making it the second-largest housing market among the top seven Indian cities. However, despite this short-term dip, Pune’s long-term real estate outlook remains strong. Infrastructure projects like the Pune Metro, the Mumbai-Pune Expressway expansion, and the Ring Road project are expected to improve connectivity, further fueling demand for residential and commercial properties.
Property prices in Pune have seen steady growth, with research by Knight Frank India indicating an eight to ten percent year-on-year increase. Areas such as Hinjewadi, Baner, Kharadi, and Magarpatta remain highly sought-after due to their proximity to IT hubs and business districts. The demand for integrated townships is rising as more homebuyers and investors seek self-sustaining communities with modern infrastructure, high-quality amenities, and easy accessibility to workplaces.
Dr. Niranjan Hiranandani, Chairman of Hiranandani Group, emphasized the strategic importance of Pune’s real estate market, stating that mega infrastructure projects are strengthening last-mile connectivity between Mumbai and Pune, creating new opportunities for real estate development. He highlighted Pune’s robust growth, driven by its booming IT sector, strong economic fundamentals, and an influx of skilled professionals seeking better living conditions.
With this development, Hiranandani Group has signaled its intent to expand its footprint in Pune, exploring further collaboration and investment opportunities in the city’s evolving real estate landscape. The group aims to capitalize on Pune’s position as a high-growth investment destination, where large-scale projects like this integrated township will play a key role in shaping the future of urban development.
