Shapoorji Pallonji Real Estate on Wednesday said it has launched two housing projects in its 200 acre-township in Pune and is expecting a revenue of around Rs 1,500 crore from them.In a statement, the company said it is developing a 200 acre-urban development project ‘SP Kingstown’ in Pune’s Hadapsar Annexe.It will develop housing, commercial, educational, healthcare, and retail spaces in this large township.Shapoorji Pallonji Real Estate has come up with two housing projects ‘Wildernest’ and ‘Joyville Celestia’, with a development potential of over 1.7 million square feet.
Venkatesh Gopalakrishnan, director, group promoter’s office and the MD & CEO of SPRE, said, that with the launch of Wildernest and Joyville Celestia, they would provide home buyers various options, from aspirational to luxury. He said the outlook for this micro market was positive and they were expecting a high uptake in the Pune market.
Wildernest is a low-density luxury residential project with 3 and 4 BHK residences across two towers with homes starting at Rs 1.69 crore. Joyville Celestia is part of the aspirational housing brand, Joyville. It has two towers that offer 2 and 3 BHK configurations and was priced at Rs 60.90-99 lakh.
The company had earlier launched a Joyville product here and this was their second aspirational project in the Hadapsar micromarket. SPRE delivered six projects in the past year in Pune.
The SP Kingstown project situated along the Pune-Solapur Highway has connectivity to prominent areas like Hadapsar, Magarpatta IT Park, Amanora Park, and SP Infocity. Educational institutes, hospitals, malls, and commercial hubs are near the project. There were also some large proposed infrastructural developments in the area which included a four-tier double-decker flyover, a ring road, and a metro line. It was also close to the upcoming Chhatrapati Sambhaji Raje International Airport near Saswad, the company said.