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Shapoorji Pallonji Group launches Rs 700-crore residential project in Pune

'Sensorium' will have more than 1,100 premium 2 BHK and 3 BHK apartments, with units priced at Rs 64.4 lakh onwards.

The Shapoorji Pallonji Group has announced a Rs 700-crore residential project in Pune's Hinjawadi, its sixth launch under the Joyville brand in India.

Joyville is a $ 200-million platform by Shapoorji Pallonji, ADB, IFC and Actis for developing “aspirational housing projects” in India.

The third Joyville project in Pune, Sensorium is spread over 10 acres and will have 1,100 premium 2 BHK and 3 BHK apartments. These flats will be available at an all-inclusive price of Rs 64.4 lakh onwards.

“Pune is an important market for us with a demand for quality homes by trusted brands. This project addition fits well with our strategy of strengthening our presence across the country's leading real estate markets,” said Shapoorji Pallonji Real Estate CEO Venkatesh Gopalkrishnan said.

At the launch of Joyville Hadapsar Annexe in East Pune, it sold more than 800 apartments, the Mumbai-based company said. Joyville Hinjawadi was launched in 2018 and almost sold out.

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Sensorium is located within Hinjewadi IT Park and is well connected to the Mumbai-Pune Expressway.

The company has already started the handover process of Phase 1 at Joyville Howrah (near Kolkata) as per the timeline and is planning to start the handover process of Phase 1 at Joyville Virar (near Mumbai).

The work is on at Joyville Hinjawadi (West Pune) and Joyville Gurugram (Sector 102).

Shapoorji Pallonji Real Estate has a development pipeline of over 80 million sq ft and is looking to double its top line in the next two to three years. The real estate firm is planning to launch new projects and expand its projects in MMR, Pune, Gurugram, Bengaluru and Kolkata this fiscal year.
Moneycontrol News
first published: Dec 1, 2020 01:18 pm

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