Shapoorji Pallonji Launches Treetopia: ₹600 Crore Plotted Housing Project in Pune
Shapoorji Pallonji Real Estate (SPRE), a prominent player in the real estate sector, has made a significant move into the plotted development business with the launch of Treetopia, its first housing plot scheme in Pune. The project, spanning 105 acres, is segmented into 483 residential plots and is expected to generate a revenue of around ₹600 crore. This venture marks a strategic shift for SPRE, which has traditionally focused on group housing schemes in key markets.
Treetopia offers plots ranging from 2,000 to 6,000 square feet, catering to both end-users who wish to develop the property themselves and investors looking for appreciation. The project is designed to meet the growing demand for larger living spaces, a trend that has been amplified by the pandemic. Many homebuyers are now seeking more spacious and customizable living environments, and Treetopia is perfectly positioned to meet these needs.
SPRE has a strong presence in major cities like Mumbai, Pune, Bengaluru, Gurugram, and Kolkata, with a development potential of over 130 million square feet. The company's entry into the plotted development segment is a response to changing consumer behavior and a strategic move to diversify its portfolio. According to Sumit Sapru, CEO of Shapoorji Pallonji Real Estate, the rising interest in plotted schemes and the infrastructural development around Pune will drive consistent demand in this sector over the medium to long term.
Treetopia is situated in the Pune Growth Corridor, a region that has seen rapid infrastructural development, including the upcoming Purandar International Airport. This location is expected to significantly enhance the property's value and attract both new and existing buyers. The proximity to proposed developments and the high-potential micro-market status of the area make Treetopia an attractive option for homebuyers and investors.
The trend in the market shows a growing preference for plotted developments, where consumers can enjoy less density, land ownership, and the flexibility to design their homes according to their preferences. This shift away from apartment living is a key driver for SPRE's new project. The company aims to enhance its market position and capitalize on the budding market niche in the residential real estate market of India.
With the launch of Treetopia, SPRE is introducing an exciting new offering that aligns with its existing verticals, such as group housing. The project is expected to set a precedent for other growth corridors across the country, further solidifying SPRE's leadership in the real estate sector. The company's strategic entry into the plotted development market demonstrates its commitment to innovation and meeting the evolving needs of homebuyers in India.
