A new home complex in Pune will be built thanks to an investment of over Rs 750 crore from the housing platform Joyville of business conglomerate Shapoorji Pallonji.
Shapoorji Pallonji, ADB, IFC, and Actis established the $200 million platform Joyville Shapoorji Housing to create housing projects. Over 400 apartments have been sold under the mid-income housing brand during the debut period. The project is situated in Maan, Pune, close to Phase 1.
The launch has received a lot of interest from prospective property buyers. Virar and Kolkata were the first and second projects under the Joyville brand, respectively.
Over 1,000 families would live in Joyville – Hinjawadi, which would be spread out over an area of 8 acres. The development offers a variety of 1 to 2 RHK apartment unit configurations. The development features a 75% open area with more than 25 entertaining activities that provide all of its residents with enjoyable and gratifying experiences.
Apart from the spacious residences in a gated community, the project will have modern amenities like clubhouse, swimming pool, gym, jogging, cycling tracks, sports facilities for kids, recreation areas, gardens, multipurpose court, and party lawn, to just name a few.
Speaking on the success, Sriram Mahadevan, Executive Vice President & Business Head – Joyville at Shapoorji Pallonji Real Estate, said, “We are delighted with the exciting response to our first project in Hinjawadi which is one of the biggest IT hubs of India. The success of the project validates the trust of our valued homebuyers in Shapoorji Pallonji’s 153 years of legacy.”
Mr. Mahadevan also said that the success of the project proves that there is strong demand for well-designed, easy-to-own homes for the emerging middle class in the micro market. The project is designed keeping in mind the aspirations of homebuyers, mainly millennials, who like to stay closer to their workplace.
The project demonstrates that the expanding middle class in the micro market is in need of well-designed, affordable homes. The Indian real estate market is currently strongest in the mid-income bracket, where there is strong demand. The current expanding middle class strives for a holistic lifestyle, and Mr. Mahadevan said that they were pleased to support their clients in their quest to purchase the home of their dreams.
This development is in a desirable area of Hinjawadi IT Park, close to a variety of social infrastructures like a train station, schools, shopping centers, hospitals, etc., and has great access to the Mumbai-Pune Expressway. Future residents of Joyville will have seamless travel options thanks to ongoing infrastructure developments like the bridge over the Mula River connecting Baner and Balewadi, the future 110-meter-wide ring road next to the project, and the Metro connecting Hinjawadi to Shivaji Nagar.
About Joyville
By providing customers with the best of everything and the highest value per square foot, Joyville aims to set the bar for the mid-segment housing market in India.
Joyville constructs homes that enable aspirational Indian buyers to take action in the direction of their goals. It maximizes the value created for customers at every stage of the process thanks to the creative thinking, innovative mentality, value-driven strategy, and unmatched experience gained over 150 years.
About Shapoorji Pallonji Real Estate
In the real estate industry, Shapoorji Pallonji Real Estate is a name to be respected. It represents a sizeable portion of the Shapoorji Pallonji Group, a vast conglomerate of many businesses. The organization has a 150-year history that connects the first notable Indian monuments to contemporary wonders.
Shapoorji Pallonji Real Estate is prepared to innovate and adjust to the constantly changing market thanks to the outstanding leadership of the core team. The business makes an effort to produce architectural symbols that enhance and advance its reputation as a brand.
