Real estate developer Shapoorji Pallonji Real Estate’s affordable housing branch, Joyville Shapoorji Housing, intends to invest Rs 700 crore in its third residential project in Pune. This 10-acre project, named Sensorium, will be located within Pune’s Hinjewadi IT Park and marks Joyville’s sixth venture in India. Joyville, backed by a $200 million platform involving Shapoorji Pallonji, ADB, IFC, and Actis, focuses on creating desirable housing projects in India.
The platform has already invested Rs 870 crore in five projects across the Mumbai Metropolitan Region (MMR), Pune, Gurgaon, and Kolkata. The newly planned project in Pune aligns with the company’s strategy to strengthen its presence in key real estate markets across the country.
Venkatesh Gopalkrishnan, CEO of Shapoorji Pallonji Real Estate, emphasized the significance of Pune as a crucial market. He stated, “Pune is an important market for us, and this project addition fits well with our strategy of strengthening our presence across the country’s leading real estate markets. We are confident that our newly launched project will meet customers’ expectations of premium living.”
The Sensorium project in Pune will consist of over 1,100 apartments with 2 and 3-bedroom configurations, priced above Rs 64.4 lakh. This marks the company’s third project in Pune, following Joyville Hadapsar Annexe and Joyville Hinjawadi.
Shapoorji Pallonji Real Estate, with a development pipeline exceeding 80 million sq. ft, aims to double its revenue in the next 2 to 3 years. The company plans to launch new projects and additional phases in existing projects across MMR, Pune, Gurugram, Bangalore, and Kolkata within this fiscal year.
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