Hiranandani, Krisala ink development JV for 105-acre township in Pune’s Hinjewadi
Hiranandani Group has entered into a joint venture with Krisala Developers to develop an integrated township spread over 105-acre land parcel in Pune’s Hinjewadi area, marking its foray into the city’s real estate market.
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The entire project's investment will be Rs 2,000 crore and the revenue is estimated to be around Rs 7,000 crore.
The Niranjan Hiranandani Group company is planning to develop this project located in north Hinjewadi under the state government’s Integrated Township Policy, consisting of residential, commercial, and retail development in a phased manner.
Maharashtra’s Integrated Township Policy is a framework that encourages large-scale planned townships to be developed by private players. The goal is to reduce pressure on major cities like Mumbai and Pune while promoting sustainable urbanization.
The joint development’s first phase spanned across 30 acres of land will hold development potential of over 3 million sq ft of real estate spaces. As part of a joint development deal, the investment in this phase is estimated at around Rs 500 crore, with a projected turnover of Rs 2,100 crore.
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