Mumbai Pune, 20th Feb 2025: Niranjan Hiranandani Group announces its much-awaited foray into Pune real estate market by inking its first ever joint development deal of 105 acres with renowned Krisala developers. The project is located at North Hinjewadi, and will be developed under Integrated township policy, comprising of residential, commercial and retail development.
The joint development currently launches Phase I development spanned across 30 acres of land with minimum potential of delivering 3 million square feet of real estate spaces. As part of a joint development deal, the investment in phase 1 development is estimated at approximately Rs 500 crore, with a projected turnover pegged at approximately Rs 2100 crore. The proposed development comprises of apartments, villa plots, branded residences, and recreational amenities to enhance homebuyers holistic living experience.
This strategic joint development aims to leverage the strong local expertise of Krisala Developers and the extensive brand experience of the Hiranandani Group. Both organizations are committed to a seamless integration of vision and expertise, covering every aspect from land development and approvals to execution.
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.”
Sharing his excitement Mr Aakash Agarwal, Managing Director of Krisala Developers said, “Designed as a self-sustained ecosystem that emphasizes liveability, community well-being. and environmental consciousness, this township aims to offer a home for everyone. The development will cater to first-time homebuyers, second home seekers, investors, and NRIs, ensuring inclusivity and comfort for all demographics. This project differentiates itself through a steadfast commitment to sustainability and scientifically driven urban planning. Our collaborations with renowned energy and resource institutes aim to maintain an air quality index (AQI) of 40, ensuring a healthier living environment for residents.”
With its strategic locale, thoughtfully designed spaces, and unparalleled amenities, the township is poised to set a new benchmark for integrated residential real estate developments in Pune, promising a future where sustainability and luxury coexist seamlessly. Corroborated partnerships like this joint venture between the Hiranandani Group and Krisala Developers enable both organizations to capitalize on the flourishing opportunities in today’s bullish real estate market.
About Hiranandani Group
Founded over 45 years ago, the Hiranandani Group is India’s largest real estate conglomerate, pioneering mixed-use integrated township developments. Since its inception in 1978, the group has set benchmarks across residential, commercial, retail, hospitality, and healthcare sectors, blending excellence, innovation, community well-being, and environmental sustainability.
Under the visionary leadership of Dr Niranjan Hiranandani, the group has delivered nearly 48 million square feet of residential and commercial space. Further, to capitalize on the burgeoning real estate industry growth, the group has forayed into emerging asset classes such as Data Centres, Industrial parks, and Logistics parks marking its pan India footprint.
About Krisala Developers:
With quality, affordability, and tradition as its foundations, Krisala Developers is known for delivering quality homes and innovative construction solutions for over 13 years in Pune. The organization has completed over 2.3 million sq. ft. of construction through various residential and commercial projects, earning trust through transparency and consistency. Pioneering quality construction in the real estate industry, Krisala Developers aims to provide world-class property experiences.
For Further media queries, reach out to
Pratiksha Lade-8655899958-[email protected]
Ms Ritika – Hiranandani Group- [email protected]
Ms Sonali Krisala Developers –[email protected]
