Pune’s Real Estate Boom: Hiranandani and Krisala Partner for Landmark 105-Acre Township
Mumbai-based Hiranandani Developers has partnered with Pune’s Krisala Developers to develop a large-scale 105-acre integrated township in North Hinjewadi. Announced on February 20, this collaboration will bring luxury villas, branded residences, and various commercial and retail spaces to the region.
The first phase, covering 30 acres, is expected to generate ₹2,100 crore in revenue. Hiranandani Developers stated that this phase will deliver around 2 million square feet of real estate, requiring an estimated investment of ₹500 crore. The overall project, set to be completed over the next decade, is projected to have an investment exceeding ₹2,000 crore and a revenue potential of ₹7,000 crore.
The partnership was facilitated by real estate consultancy Colliers India, which played a key role in bringing the two developers together. Both Hiranandani and Krisala will hold equal 50% equity stakes in the project, with necessary RERA approvals currently in progress. The official project launch is expected within the next three to four months.
Highlighting the growing real estate potential in Pune, Hiranandani Group Chairman Niranjan Hiranandani emphasized the increasing connectivity between Mumbai and Pune, which is driving demand for premium housing. He also hinted at an upcoming 250-acre project in Alibaug.
Aakash Agarwal, Managing Director of Krisala Developers, noted that the township will cater to various buyer segments, including first-time homeowners, investors, and NRIs. The project also aims to maintain a high environmental standard, targeting an air quality index (AQI) of 40 through collaborations with energy and resource institutes.
Additionally, Krisala Developers announced its expansion into Mumbai’s real estate market through redevelopment projects. Piyush Gupta, Managing Director of Capital Markets & Investment Services at Colliers India, described the township as a future landmark for Pune, given the reputation and expertise of both development firms.
