The Shapoorji Pallonji Group’s real estate development arm Shapoorji Pallonji Real Estate (SPRE) has forayed into the plotted development segment with a 105-acre land parcel near the proposed Purandar International Airport in Pune.
The land is owned by the group and the company estimates revenue potential of Rs 600 crore from the project. The development forms part of the company’s residential portfolio expansion amid demand for plotted developments.
“The Pune Growth Corridor is emerging as a key infrastructure-driven market supported by improving connectivity and rising residential demand. With growing interest among homebuyers in plotted developments, this project marks an important step in strengthening our residential portfolio and expanding into this segment,” said Sumit Sapru, CEO, Shapoorji Pallonji Real Estate.
The proposed development comprises 483 residential plots ranging from 2,000 to 6,000 sq ft. The plots are targeted at end users and investors and will be offered as non-agricultural plots with individual 7/12 extracts, enabling buyers to develop independent villas, the company said.
According to the company, around 70% of the project area has been allocated to open and green spaces. The development is surrounded by approximately 600 acres of forest land.
SPRE holds a development pipeline of over 130 million sq ft across Mumbai, Pune, Bengaluru, Gurugram and Kolkata, covering luxury and mid-income housing segments, along with one of the largest mass housing projects in the country.
