Real estate developers are making significant investments in new projects to sustain market demand. On Thursday, at least three developers unveiled projects with a combined revenue potential of Rs 16,500 crore.
Mumbai-based Hiranandani Group is entering into the Pune market with a joint development project, which the firm said has an estimated revenue potential of Rs 7,000 crore. The total investment for the land asset of 105 acres is valued at Rs 2,000 crore, as per Colliers India. Hiranandani will develop a 105-acre integrated township in North Hinjewadi, Pune, in collaboration with Krisala Developers, using a 50:50 revenue-sharing model.
Niranjan Hiranandani, chairman of Hiranandani Group, said, “Pune’s real estate sector is experiencing robust growth, propelled by its booming IT hubs, outstanding connectivity, and an influx of skilled professionals. The seamless connection between these two major business cities (Mumbai and Pune) has opened unprecedented opportunities for real estate development.”
BPTP Group, which has a strong presence in the Delhi NCR market, unveiled its latest luxury residential project, BPTP Amstoria Verti-Greens, located in Sector 102, Gurugram, on the Dwarka Expressway. The project, with the investment of Rs 3000 core for all phases, is expected to generate a topline to the tune of Rs 6,500 crore, the company said. It is spread across 12.05 acres and features 2 and 3 bedroom residences.
Bengaluru-based SPA Group announced four upcoming residential and industrial projects spanning 100 acres in prime locations. These developments will include warehousing, mixed-use developments, villa communities, and plotted developments, strategically located on Sarjapur Road, North Bangalore, and Off Malur-Hoskote Highway.
The estimated revenue of the project is upwards of Rs 3,000 crore over the next 3-5 years. With most of the land already acquired, these developments are in the final stages of notification for construction, said SPA Group.
Just a few days back, leading player Godrej Properties said that it acquired 12 land parcels during April-December period of FY24-25 to develop housing projects worth Rs 23,450 crore and plans to buy more in the ongoing quarter to expand business amid strong consumer demand.