Shriram Properties Launches Mixed-Use Development on 6-Acre Land in Pune
Listed real estate developer Shriram Properties has entered into a joint development agreement (JDA) for a mixed-used project on a 6-acre land parcel in Pune.
Real EstateMixeduse DevelopmentPuneShriram PropertiesJdaReal Estate PuneOct 29, 2024
Shriram Properties, known for its commitment to delivering high-quality projects, has been a trailblazer in the Indian real estate market. The company has a robust portfolio of projects across various cities, including Mumbai, Chennai, and Bangalore. With this new venture in Pune, Shriram Properties aims to further expand its footprint and cater to the growing demand for integrated living spaces.
The 6-acre land parcel, strategically located in a prime area of Pune, is well-connected to major roads and public transport systems. This makes it an ideal location for a mixed-use development, which will include luxury residential apartments, office spaces, retail outlets, and recreational facilities. The project is expected to attract a diverse range of buyers, from young professionals to families looking for a convenient lifestyle.
According to Shriram Properties, the project is being designed to meet the highest standards of sustainability and modern living. The company plans to incorporate green building practices, energy-efficient systems, and smart technologies to create a sustainable and eco-friendly community. This aligns with the company's broader vision of promoting responsible development and enhancing the quality of life for residents.
The joint development agreement (JDA) was signed with a local landowner, who will play a key role in the development process. The terms of the agreement include a split of the profits generated from the project, with both parties committed to ensuring a successful and mutually beneficial partnership.
Speaking about the project, the CEO of Shriram Properties, Mr. Ravi Shankar, said, 'We are excited to embark on this new venture in Pune, a city that has seen rapid growth and urbanization in recent years. Our mixed-use development project is designed to cater to the evolving needs of the market and provide a holistic living experience for residents and businesses alike. We are confident that this project will set new benchmarks in the real estate sector and contribute to the economic development of the region.'
The construction of the project is expected to commence in the next few months, with completion anticipated within three to four years. Shriram Properties has already started the process of obtaining the necessary approvals and permits, and the company is confident of meeting all regulatory requirements.
The project is also expected to generate significant employment opportunities, both during the construction phase and post-completion. Shriram Properties has a strong track record of community engagement and social responsibility, and the company is committed to working closely with local authorities and community organizations to ensure the project benefits the wider community.
In conclusion, the new mixed-use development by Shriram Properties in Pune is poised to be a landmark project in the region. With its strategic location, modern design, and focus on sustainability, the project is likely to attract a wide range of buyers and investors. As the real estate market in Pune continues to grow, this project is set to play a key role in shaping the city's future.
Frequently Asked Questions
What is the size of the land parcel for the new mixed-use project by Shriram Properties in Pune?
The land parcel for the new mixed-use project is 6 acres in size.
What are the key components of the mixed-use development project by Shriram Properties in Pune?
The project includes luxury residential apartments, office spaces, retail outlets, and recreational facilities.
How is Shriram Properties ensuring sustainability in the new project?
Shriram Properties is incorporating green building practices, energy-efficient systems, and smart technologies to create a sustainable and eco-friendly community.
When is the expected completion date for the mixed-use development project in Pune?
The construction of the project is expected to commence in the next few months, with completion anticipated within three to four years.
What is the role of the local landowner in the joint development agreement (JDA) with Shriram Properties?
The local landowner will play a key role in the development process and will share in the profits generated from the project.
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