For most of its four-decade history, Hiranandani Group built its reputation within Maharashtra's Mumbai Metropolitan Region. Established in 1978 by brothers Niranjan Hiranandani and Surendra Hiranandani, the group focused on real estate as its foundational business, developing large-scale integrated townships that combine residential, commercial, retail, and institutional spaces within self-sustaining communities. The results — Hiranandani Gardens Powai, which permanently changed what luxury residential meant in Mumbai, arriving in a part of the city considered peripheral and making it aspirational — gave the group a track record that no marketing language could manufacture.
The group expanded the city's horizon to Thane by developing around 350 acres of land into a thriving global township with world-class amenities. Beyond MMR, they completed Hiranandani Signature, India's first IFSC tower at GIFT City in Gujarat, and built a 360-acre township at Oragadam near Chennai. Under the visionary leadership of Dr. Niranjan Hiranandani, the group has delivered nearly 48 million square feet of residential and commercial space. Pune was the logical next move — and in February 2025, they made it.
Mumbai-based Hiranandani Group announced its entry into the Pune market with a joint development project that the firm said has an estimated revenue potential of ₹7,000 crore. The company will develop a 105-acre integrated township in North Hinjewadi, Pune, in collaboration with Krisala Developers, using a 50:50 revenue-sharing model. The total investment for the land asset of 105 acres is valued at ₹2,000 crore.
The location choice is deliberate rather than opportunistic. Rajiv Gandhi IT Park, Embassy Techzone, Quadron Business Park, and Qubix SEZ Blueridge make Hinjewadi a hub for IT professionals. With more than 800 companies in Rajiv Gandhi Infotech Park, there is steady demand for homes and rentals. This is precisely the kind of captive, employed, income-stable buyer base that Hiranandani has built townships around in Powai and Thane.
Connectivity has been the corridor's historic weak point, and that is changing materially. The 23.3 km elevated corridor connecting Hinjewadi to Shivajinagar is expected to redefine urban mobility, reduce travel dependency on private vehicles, and create a major shift in the Pune property market. The 23.3 km Red Line (Line 3) has hit 94% completion, with the first 11-km IT Stretch from Megapolis Circle (Hinjewadi Phase 3) to Balewadi Stadium slated for public inauguration in May 2026. Dr. Niranjan Hiranandani named this infrastructure shift directly as part of his rationale for the Pune entry: "Mega infrastructure projects are establishing crucial last-mile connectivity between Mumbai and Pune, invigorating the dynamic Mumbai Metropolitan Region and Pune real estate markets. This connectivity directly addresses the aspirational living demands of migrating talent."
The price data confirms the timing. Flat rates in Phase 3 Hinjewadi changed by 25.9% in the last three years, 49.1% in the last five years. Hinjewadi's average price stands at approximately ₹11,400 per sq. ft., with 15–20% property appreciation expected over the next few years. The market's projected 10–12% annual growth, coupled with strong rental yields of 5–7%, positions Hinjewadi as one of Pune's most promising real estate destinations.
This is the headline development — the vehicle through which Hiranandani has structured its Pune debut. Located in North Hinjewadi and developed under the Integrated Township Policy, the project's first phase covers 30 acres, is expected to deliver 3 million square feet of real estate, with an estimated investment of ₹500 crore and a projected turnover of ₹2,100 crore. The township will include a mix of apartments, villa plots, branded residences, and premium recreational amenities, catering to a wide spectrum of homebuyers, from first-time buyers to NRIs and investors.
The collaboration brings together Krisala Developers' expertise in Pune's real estate market and Hiranandani Group's extensive experience in large-scale township development. Krisala is not a new entrant here: with quality, affordability, and tradition as its foundations, Krisala Developers has delivered quality homes for over 13 years in Pune, completing over 2.3 million sq. ft. of construction through various residential and commercial projects.
Sustainability has been built into the brief from the start. The project will integrate lush green spaces and eco-friendly planning, energy-efficient infrastructure to minimise environmental impact, and collaborations with leading energy and resource institutes to maintain an Air Quality Index, offering residents fresher air and a healthier lifestyle. Additionally, the development of this township will generate 1,000-plus job opportunities, further contributing to the region's economic growth.
Everland is the first residential product to emerge from within the broader Hiranandani–Krisala township canvas. A newly launched residential project located at Darumbare Village, near Hinjewadi, Pune, it is spread across 6.3 acres and is part of the grand 100-acre Hiranandani Hinjewadi Township.
Spread across 6.3 acres with five towers and 1,100 units, the homes are designed with 1 BHK apartments ranging from 483 to 736 sq. ft., 2 BHK from 730 to 952 sq. ft., and 3 BHK from 1,009 to 1,198 sq. ft. Pricing for a 1 BHK starts at ₹54.99 lakhs, with 3 BHK apartments starting at ₹1.15 crore. Possession is scheduled for February 2030, and the project is registered under RERA with number PR1260002500600.
The township is designed to provide a modern urban lifestyle with 70% open spaces, landscaped gardens, and amenities including a clubhouse, swimming pool, sports courts, jogging tracks, and co-working spaces. World-class amenities include landscaped gardens, yoga decks, multipurpose courts, and amphitheatres for recreation and wellness.
Connectivity from the site is multi-directional. Hinjewadi IT Park is just a few minutes away, while popular areas like Baner, Wakad, and Balewadi are within a short drive; the Pune–Bengaluru Highway and Mumbai–Pune Expressway make travelling to other parts of Pune and even Mumbai convenient. The project also sits close to the forthcoming Metro Line 3 corridor, which will give residents a rail link to Shivajinagar in approximately 45 minutes.
Buyers considering a Hiranandani address in Pune benefit from understanding what the group actually delivers, because the product is more than apartments. The township approach pioneered by the group in India draws from New Urbanism principles to create holistic living environments with eco-friendly features such as 100% sewage recycling and rainwater harvesting, implemented since 1989. In Powai, the township consists of residential buildings, office buildings, a hospital, schools, gardens, a community centre, sports club, banks, shopping malls, and swimming pools — all within a single master plan.
This operating philosophy travels with the brand. The North Hinjewadi project will be developed under the integrated township policy, which includes residential, commercial, and retail developments. The Krisala partnership's stated design intent is consistent with that blueprint: a self-sustained ecosystem where social infrastructure, workspaces, and recreation are woven into the residential fabric rather than added as afterthoughts.
Pune's overall residential volumes give a sense of scale. In 2024, housing sales in Pune reached 81,090 units, making the city the second-highest selling market among India's top seven cities, according to Anarock Research. Within that market, the western corridor — Hinjewadi, Wakad, Baner, Balewadi — has been its highest-growth pocket. According to Credai Pune, since 2021, premium home sales in key areas like Hinjewadi, Wakad, Baner, Balewadi, Tathawade, and Aundh have witnessed growth of over 300%.
The social infrastructure in the Hinjewadi belt has matured considerably alongside that demand. Medical facilities are well-covered, with hospitals like Life Tree, Sanjeevani Multispeciality, and Surya Mother and Child Care in the vicinity. Luxury hotels like Vivanta, Holiday Inn, Hyatt, and Lemon Tree add to the area's commercial fabric, catering to both business and leisure travel. Schools, retail malls, and entertainment hubs have followed the IT workforce that moved here over the past two decades.
For buyers coming from Mumbai or considering an investment from outside Maharashtra, the Mumbai–Pune Expressway (NH-48) remains the arterial connection, and the metro will supplement it with urban rail access that the corridor has lacked since its IT boom began in the early 2000s. The metro is expected to reduce travel time significantly, bringing the journey from Hinjewadi to Shivajinagar down from around 90–120 minutes by road to approximately 40–45 minutes.
The group has also forayed into emerging asset classes such as data centres, industrial parks, and logistics parks, marking its pan-India footprint. Greenbase Industrial and Logistics Parks, a 50:50 joint venture with Blackstone established in 2019, planned ₹4,500 crore in investments by August 2024 for industrial and logistics facilities across India. This diversification matters to a Pune buyer because it signals a group that is in a sustained growth phase, not one that entered Pune speculatively.
The Krisala partnership structure — a 50:50 revenue-sharing joint development agreement — also aligns both parties' incentives squarely with delivery. Krisala's local market knowledge, combined with Hiranandani's township execution experience across Powai, Thane, Panvel, and Chennai, creates a joint venture where each partner is contributing something the other does not already possess in Pune.