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Pune Real Estate Booms: Rs 700 Cr Investment in New Projects
20 Mar
Summary
- Paranjape Schemes invests Rs 700 crore in four new Pune projects.
- Company plans over 1.75 million sq ft development with 1400 units.
- Investment aims to tap into the traditional festive season homebuying.
Paranjape Schemes Construction Ltd is set to invest Rs 700 crore in Pune to develop four new residential projects. These upcoming launches represent a significant development potential of over 1.75 million square feet, encompassing approximately 1400 residential units.
This strategic investment is timed to coincide with the festive season, a period traditionally important for Indian homebuyers seeking new beginnings and long-term investments. The company is also actively engaged in developing three large integrated townships designed to shape future urban living.
Established in 1989, Paranjape Schemes is a prominent real estate developer with a track record of over 200 projects across nine cities. Despite a recent dip in Pune's housing sales last year, the company's expansion highlights confidence in the market.
The total revenue potential from these new Pune projects is estimated at approximately Rs 1,175 crore. Amit Paranjape, Director-Business Development, confirmed the Rs 700 crore investment for the construction of these 1400 units.
