NEW DELHI: Shapoorji Pallonji Real Estate (SPRE) has announced the launch of a new premium residential project, VANAHA Verdant, in Pune, with an estimated revenue potential of ₹800 crore. Spread over 5 acres, the project will feature approximately 600 apartments and offer around 10 lakh sq ft of saleable area.
The project is part of the company’s expansive 1,000-acre integrated township, VANAHA, located near Bavdhan in Pune. Although the cost of the project was not disclosed, SPRE emphasized that the development aligns with its strategic growth plans.
“With VANAHA Verdant, we’re not just unveiling another residential project—we’re redefining modern living in Pune. Its proximity to nature, commercial integration, and low-density design reflect the evolving preferences of today’s homebuyers,” said Sriram Mahadevan, CEO of SPRE and MD of Joyville Shapoorji Housing.
So far, SPRE has sold over 2,000 apartments worth ₹1,800 crore within the VANAHA township, catering largely to the mid-segment market.
Following the Covid-19 pandemic, India’s top seven housing markets—including Delhi-NCR, MMR, Bengaluru, Chennai, Hyderabad, Kolkata, and Pune—have seen a surge in demand and property prices, particularly for developers with strong project delivery track records.
Shapoorji Pallonji Real Estate, part of the diversified Shapoorji Pallonji Group, is among the country’s leading real estate developers, with a development portfolio exceeding 130 million sq ft across cities like Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.
