HIRANANDANI HINJEWADI - KRISALA DEVELOPERS JV — New Project Coming Up in North Hinjewadi, Pune
Hiranandani and Krisala Developers Announce Major Pune Township
Hiranandani Group has inked a joint development agreement with Pune-based Krisala Developers to build a 105-acre landholding in North Hinjewadi, Pune. The 105-acre integrated township will be developed in collaboration with Krisala Developers, using a 50:50 revenue-sharing model.
Scale and Structure
The total investment for the land asset of 105 acres is valued at Rs 2,000 crore. The integrated township will feature residential, commercial, and retail segments, with an investment of INR 2,000 crore and expected revenue of INR 7,000 crore.
Under the Integrated Township Policy, a 105-acre land tract in North Hinjewadi would be developed for residential, commercial, and retail uses. The township is designed as a self-sustained urban ecosystem, featuring 100+ amenities including a renowned school, multi-specialty hospital, high-street retail, a proposed data centre.
Phase 1 Rollout
The project Phase 1 will span over 30 acres and is slated to provide a minimum of three million sq ft. The investment in the first phase of the development is estimated at approximately Rs 500 crore with a projected turnover pegged at approximately Rs 2,100 crore.
The planned development comprises apartments, villa plots, branded residences, and several recreational facilities.
Location and Connectivity
Hiranandani Krisala township is strategically located near Rajiv Gandhi Infotech Park, making it an ideal choice for IT professionals. It enjoys seamless connectivity to Mumbai-Pune Expressway, Pune International Airport, and key business hubs.
Located in the thriving North Hinjawadi corridor, the 105-acre integrated township enjoys unmatched connectivity to the Mumbai – Bengaluru National Highway and close proximity to Pune's leading education institutions, healthcare centers, IT hubs, and commercial zones.
Specialized Hospitality Enclave
Krisala has introduced Della Group, a pioneer in experiential hospitality, to co-develop a transformative 40-acre racecourse-themed precinct within the township. The Della Racecourse introduces a new hospitality-driven investment class in real estate, offering indicative annual yields of up to 9%.
Developer Backgrounds
Hiranandani Group is a diversified conglomerate that was established in 1978 by Niranjan Hiranandani and Surendra Hiranandani and is based in Mumbai, Maharashtra, India. The group is one of the largest real estate developers in India with projects across Mumbai, Bengaluru, Chennai, and Hyderabad. Hiranandani Gardens Powai, Hiranandani Estate Thane, One Hiranandani Park, and Hiranandani Fortune City Panvel are the most renowned residential projects developed by the Hiranandani Group.
This collaboration brings together Krisala Developer's expertise in Pune's real estate market and Hiranandani Group's extensive experience in large-scale township development.
Market Context
Pune's real estate sector is experiencing robust growth, propelled by its booming IT hubs, outstanding connectivity, and an influx of skilled professionals. The development of this township will generate 1000+ job opportunities, further contributing to the region's economic growth.