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Shriram Properties Ltd has entered into a joint development agreement with a landowner to develop a premium residential project in Hinjewadi, Pune, with an estimated gross development value (GDV) of around INR 700 crore. The project, spread across 0.7 million sq ft, will be the company's second venture in Pune. The firm, which recently entered into another similar agreement in North Bengaluru, continues to expand its footprint in key urban markets, supported by strong demand from the city's IT and industrial sectors.
Real estate developer Shriram Properties Ltd has entered into a partnership with a landowner for a premium residential project in Hinjewadi, Pune, with an estimated gross development value (GDV) of about INR 700 crore. Advertisement
In a recent regulatory filing, the company stated that it has signed a Joint Development Agreement (JDA) for the development of a 0.7 million sq ft housing project, which will include approximately 6.5 lakh sq ft of residential space. This new venture marks the developer's second project in Pune, further strengthening its presence in Maharashtra's growing real estate market.
Akshay Murali, Vice President - Business Development at Shriram Properties, mentioned that Pune continues to show strong housing demand due to its thriving IT and industrial base. He said the signing of this project is an important milestone in the company's expansion strategy and reflects its confidence in the city's long-term real estate growth.
The company has been actively pursuing joint development opportunities in major cities. Recently, it entered into another JDA for a 7-acre land parcel in North Bengaluru, where it plans to build a premium row housing project with an estimated GDV potential of INR 600 crore.
Shriram Properties, which is among India's well-established real estate developers, has built a diverse presence across Bengaluru, Chennai, Pune, and Kolkata. The firm has so far delivered 48 projects, covering a total saleable area of 28.3 million sq ft. It currently maintains a development pipeline of 39 projects with a total potential of 36 million sq ft, out of which 19 million sq ft are already under construction.
The company's focus remains on mid-income and premium residential segments, supported by partnerships with landowners to ensure faster and capital-efficient growth. Pune, known for its strong employment base and infrastructure growth, continues to attract homebuyers and developers alike, making it a strategic market for Shriram Properties.
Source PTI
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