Shapoorji Pallonji Announces ₹4,000 Crore Investment in VANAHA Project, Pune
Investment and Project Overview
Shapoorji Pallonji, a leading real estate company, has announced an investment of approximately ₹4,000 crores in its new project, VANAHA, located in Pune. Launched on January 28, 2021, this mixed-use development is part of one of India's largest townships.
Key Characteristics of VANAHA Project
- Phased Development: The project will be completed in multiple phases.
- Residential Units: Over 5,000 apartments will be offered upon completion, with 600 apartments in the first phase.
- Pricing: First-phase apartments are priced between ₹39 lakh and ₹89 lakh.
- Connectivity: The site enjoys easy access and close proximity to Mumbai-Bangalore Highway, Baner IT hubs, and Hinjewadi.
Company Overview and Expansion Plans
Shapoorji Pallonji Real Estate is a prominent player in the Pune real estate market, boasting a development pipeline of 70 million square feet. The company aims to double its top line in the next 2 to 4 years and plans to launch new projects in various phases across Bangalore, Pune, Kolkata, MMR, and Gurugram by the end of this financial year.
CEO's Statement
- Venkatesh Gopalkrishnan, CEO of Shapoorji Pallonji Real Estate:
"Pune is a crucial market for us, and the VANAHA project aligns perfectly with our strategy, reinforcing our presence in the Indian real estate market.
In today's scenario, customers seek assurance from trusted brands to regain confidence in home buying. As a 154-year-old heritage brand, Shapoorji Pallonji is renowned for its timely delivery and quality."