Shriram Properties to Develop 6-Acre Land in Undri, Pune
Shriram Properties has signed a joint development agreement for a 6-acre land parcel in Undri, Pune. The project, featuring over 650 apartments and retail spaces, is set to be launched in H2 FY 2024-25.
Shriram PropertiesPune Real EstateJoint DevelopmentMixeduse DevelopmentAffordable LuxuryReal Estate PuneOct 30, 2024
The site will be transformed into a mixed-use development, comprising over 650 apartments and retail/commercial spaces. The project is expected to cover more than 1 million square feet of saleable area, making it one of the most ambitious undertakings in the region. With an estimated revenue potential of 700-750 INR Crore, the project is poised to make a substantial impact on the local real estate market.
Murali Malayappan, Chairman and Managing Director of Shriram Properties, highlighted the strategic importance of this investment. 'This joint development aligns perfectly with our asset-light strategy for accelerated growth. We are excited to bring our expertise in affordable luxury to Pune, a city that is rapidly growing and offering numerous opportunities for development,' he said.
The official launch of the project is scheduled for H2 FY 2024-25. The development will not only provide high-quality residential options but also boost the local economy by creating numerous job opportunities and enhancing the retail and commercial landscape.
Shriram Properties, known for its focus on 'affordable luxury,' has a strong track record of delivering projects that meet the needs of modern urban dwellers. This new venture in Pune is expected to further solidify the company's position in the market.
With a development timeline of four years, the project will be meticulously planned and executed to ensure high standards of quality and sustainability. Shriram Properties is committed to integrating modern design and construction techniques to create a vibrant and sustainable community.
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Disclaimer The information provided is based on sources believed to be reliable. All data and opinions are subject to change. The image used in this article is for representation purposes only and does not depict the actual project. If you wish to remove or edit the article, please contact editor@biltrax.com.
Frequently Asked Questions
What is the size of the land parcel in Undri, Pune, being developed by Shriram Properties?
The land parcel being developed by Shriram Properties in Undri, Pune, is 6 acres in size.
How many apartments will the project in Undri, Pune, include?
The project will feature over 650 apartments.
What is the estimated revenue potential of the project?
The estimated revenue potential of the project is 700-750 INR Crore.
When is the official launch of the project scheduled?
The official launch of the project is scheduled for H2 FY 2024-25.
What is Shriram Properties' strategy for this development?
Shriram Properties' strategy for this development is to align with their asset-light approach for accelerated growth, focusing on affordable luxury in the growing city of Pune.
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