Shriram Properties Launches ₹700-Crore Mixed-Use Project in Hinjewadi, Pune

Bengaluru-based developer Shriram Properties Ltd (SPL) is strengthening its presence in western India with the launch of a ₹700-crore mixed-use project in Hinjewadi, Pune, one of the city’s most dynamic real estate corridors. The company announced that it has entered into a Joint Development Agreement (JDA) with a local landowner for the upcoming development, which will cover approximately 0.7 million sq ft of built-up area.

This marks Shriram Properties’ second major foray into Pune’s property market. The company made its debut in the city earlier this year with a residential project in Undri, which received an encouraging response from homebuyers. Over 55% of the available inventory in that project was sold within six months of launch, reflecting the growing demand for well-located, mid- to premium-segment housing in Pune.

The new Hinjewadi development will feature 6.5 lakh sq ft of premium residential apartments and an additional retail and commercial component, bringing the total saleable area to over 7 lakh sq ft. SPL said the project will combine high-rise living with lifestyle-oriented amenities, including a sky clubhouse offering panoramic views of Pune, along with landscaped social and leisure spaces designed to promote community engagement.

According to the company, the project represents an important milestone in its expansion strategy. “Pune continues to offer strong demand fundamentals driven by its thriving IT and industrial ecosystem,” said Akshay Murali, Vice President – Business Development, Shriram Properties. “The signing of our second project in Pune marks an important step in our expansion strategy and reflects our confidence in the city’s long-term potential. We remain focused on scaling up through partnerships and development alliances while delivering high-quality, value-driven homes.”

SPL added that its focus remains on geographical diversification and capital-efficient growth through asset-light development models, such as JDAs and joint ventures. This approach has helped the company expand from its traditional southern markets into emerging growth hubs across western India.

The Hinjewadi micro-market has evolved into Pune’s largest IT and business district, home to several multinational technology firms and business parks. Over the past decade, the area has also become a preferred residential destination for professionals and families due to its strong infrastructure, proximity to the Mumbai–Pune Expressway, and access to top educational and healthcare institutions.

Industry experts note that the area’s stable rental yields, consistent end-user demand, and improving social infrastructure make it one of Pune’s most attractive real estate destinations. Developers, too, have shown renewed interest in creating mixed-use projects that integrate residential, retail, and leisure spaces — a model that caters to the city’s young working population and offers long-term value to investors.

Recent data from property research firms shows that while housing sales across India’s top seven cities fell by around 12% in the January–September 2025 period, Pune and Chennai stood out by posting year-on-year growth in residential sales volumes. Analysts attribute this resilience to the city’s strong IT-led economy, relative affordability, and expanding infrastructure network.

Shriram Properties’ foray into Pune reflects its broader national strategy to expand across India’s key residential markets while maintaining leadership in South India’s mid-market housing segment. The company has successfully leveraged partnerships to pursue asset-light growth, allowing it to scale operations efficiently without large upfront land investments.

Following its debut in Undri and now the upcoming Hinjewadi project, the company aims to continue exploring new opportunities in Pune’s fast-growing corridors. “Our focus is on strengthening presence in high-growth micro-markets and expanding the Shriram brand’s footprint beyond its southern strongholds,” the company statement added.

With Pune emerging as one of India’s most active residential markets and Hinjewadi at the heart of its expansion, Shriram Properties’ latest project positions the company to tap into the city’s next phase of growth. As demand for integrated, lifestyle-oriented communities rises, this ₹700-crore project could set a new benchmark for mixed-use development in the western region.