Shriram Properties Signs JDA for Prime 6-Acre Development in Pune, Eyes Rs 750 Cr Revenue
Shriram Properties (SPL), a prominent South Indian residential real estate developer, has entered into a Joint Development Agreement (JDA) for a prime 6-acre development in Pune, with an expected revenue of Rs 750 crore.
Shriram PropertiesJdaPuneReal EstateDevelopmentReal Estate PuneOct 29, 2024
Information
Shriram Properties, established in 2003, has a robust portfolio of high-quality residential projects across major cities in South India. The company is known for its commitment to delivering world-class living experiences and has successfully completed over 60 projects, housing more than 16,000 families. With a strong focus on sustainability and innovation, SPL has carved a niche for itself in the competitive real estate market.
The JDA in Pune
The JDA, signed with a local landowner, is for a 6-acre plot in a prime location in Pune. Pune, known as the 'Oxford of the East,' has emerged as a major economic and cultural hub in Western India. The city's rapid urbanization and growing demand for quality residential properties make it an attractive destination for developers like Shriram Properties.
Expected Impact and Benefits
The project is expected to bring multiple benefits to both the company and the local community. Shriram Properties plans to develop the land into a premium residential complex, featuring modern amenities and sustainable living options. The expected revenue of Rs 750 crore will not only boost the company's financial performance but also contribute to the local economy by creating jobs and stimulating infrastructure development.
Development Plans
The development will consist of a mix of residential units, including apartments, villas, and townhouses, designed to cater to the diverse needs of the modern Indian family. Shriram Properties is committed to integrating green building practices and smart technology to ensure a sustainable and comfortable living environment for its residents.
Market Potential
Pune's real estate market has been on an upward trajectory, driven by factors such as a strong industrial base, a growing IT sector, and a young, aspirational population. The city's well-developed infrastructure and connectivity further enhance its appeal as a preferred location for residential and commercial projects. Shriram Properties' entry into this market is a well-timed move that aligns with the company's long-term growth strategy.
Company
Shriram Properties is a leading residential real estate developer based in South India. With a vision to redefine the way people live, the company has consistently delivered premium projects that blend modernity with sustainability. Shriram Properties is committed to excellence and customer satisfaction, making it a trusted name in the real estate industry.
Conclusion
The Joint Development Agreement signed by Shriram Properties for the 6-acre plot in Pune is a significant step towards achieving the company's expansion goals. With a projected revenue of Rs 750 crore, the project is poised to be a major success, contributing to the growth of the local economy and enhancing the quality of life for its residents.
Frequently Asked Questions
What is Shriram Properties?
Shriram Properties is a prominent residential real estate developer based in South India, known for delivering high-quality and sustainable living spaces.
What is a Joint Development Agreement (JDA)?
A Joint Development Agreement (JDA) is a legal contract between a landowner and a developer, where the developer agrees to develop the land and share the profits with the landowner.
Where is the 6-acre plot located?
The 6-acre plot is located in a prime area of Pune, a major economic and cultural hub in Western India.
What is the expected revenue from this project?
The expected revenue from the 6-acre development project in Pune is Rs 750 crore.
What kind of residential units will be developed?
The project will include a mix of residential units such as apartments, villas, and townhouses, designed to meet the diverse needs of modern families.
Related News Articles
Indian Realty Giants Unload Properties Worth Rs 1.17 Lakh Crore in FY24
Leading real estate companies in India, such as Macrotech Developers and Signature Global, have sold properties worth a staggering Rs 1.17 lakh crore in FY24.
Soaring Demand Drives Up Property Prices in Delhi-NCR and MMR
Average housing prices in Delhi-NCR and Mumbai Metropolitan Region (MMR) have risen by nearly 50% in the last five years, driven by higher demand and infrastructural developments.
Aditya Birla Real Estate: Pune Launch on the Cards, Expanding in Thane and Sarjapur
In a recent post-earnings call, the management of Aditya Birla Real Estate Ltd, formerly known as Century Textiles and Industries Ltd, announced the upcoming launch of a new project in Pune, along with plans to expand in Thane and Sarjapur.
ACRES 2025 Showcases Over 400 Property Projects in Egypt Pavilion
Organised by the Sharjah Chamber of Commerce and Industry (SCCI) in collaboration with the Sharjah Real Estate Registration Department (SRERD), the ACRES 2025 event is set to feature an extensive array of property projects from Egypt, highlighting the cou
The 23-Year Journey: How a UP Man Purchased Dawood Ibrahim’s Mumbai Shop
Hemant Jain took a significant risk in 2001 by purchasing a Mumbai shop linked to Dawood Ibrahim. Despite numerous bureaucratic obstacles, he finally managed to register the property after a grueling 23-year battle.
What Are the Top 20 Expectations for the Budget 2025-26?
As the Union Budget 2025-26 approaches, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1 (Saturday), the real estate industry and other sectors are bracing for significant changes and potential boosts. Here’s a detailed look