JDA signed for ₹700 crore mixed-use project in Hinjewadi, Pune
Shriram Properties Signals Second Pune Entry with Hinjewadi Mixed-Use Pact
Bengaluru-based real estate developer Shriram Properties Limited (SPL) has entered into a Joint Development Agreement (JDA) to develop a 0.7 million sq ft mixed-use project near Pune, announced on 30 October 2025. The project carries a gross development value of ₹700 crore, marking the company's expanded presence in Maharashtra's fastest-growing residential market.
This marks Shriram Properties' second major foray into Pune's property market. The company made its debut in the city earlier this year with a residential project in Undri, which received an encouraging response from homebuyers. Over 55% of the available inventory in that project was sold within six months of launch, demonstrating strong local demand for well-located residential offerings from established developers.
Project Scope and Composition
The development will span 0.7 million sq ft, featuring 6.5 lakh sq ft of premium residential apartments along with retail and commercial spaces, bringing the total saleable area to over 0.7 million sq ft. The project, located in a high-demand residential corridor, will feature a sky clubhouse offering panoramic city views, leisure amenities, and community spaces.
The mixed-use format aligns with Shriram Properties' broader strategy of diversifying beyond residential into integrated communities that serve working professionals and their families.
Hinjewadi's Evolution as a Mixed-Use Hub
Hinjewadi, known as Pune's largest IT and business district, has evolved into one of the city's most sought-after residential destinations. The area continues to attract both end-users and investors, supported by stable rental yields and proximity to Hinjewadi IT Park, the Mumbai–Pune Expressway, and major educational and healthcare institutions.
Infosys, Wipro, Cognizant, and other sizable international software businesses operate in Hinjewadi, sustaining consistent demand from IT sector employees and their families. The Mumbai-Pune Expressway acts as a vital lifeline, facilitating swift travel to Mumbai and other significant destinations. The presence of public transport options, including buses and shared cabs, further enhances accessibility for the workforce commuting to the numerous IT parks.
Ongoing infrastructural developments, such as the proposed metro extension, promise to elevate connectivity to new heights. A significant development is the six-lane road connecting Baner directly to the IT Park. Out of the 5.75-kilometer stretch, 2.5 kilometers have been completed, and work on the remaining 3.25 kilometers will begin once the Pune Metro Region timeline is finalized.
Shriram Properties' Strategic Expansion
Shriram Properties is a public company based in Bengaluru, founded in 1995. With a focus on mid-market and affordable housing, the company operates in Bangalore, Chennai, Pune, Coimbatore, Visakhapatnam, and Kolkata, boasting 48 completed projects and 37 ongoing developments.
SPL's focus remains on geographical diversification and capital-efficient growth through asset-light development models, such as JDAs and joint ventures. This approach has helped the company expand from its traditional southern markets into emerging growth hubs across western India. The Hinjewadi JDA exemplifies this model, allowing Shriram Properties to build scale without acquiring land outright.
According to Akshay Murali, Vice President – Business Development, Shriram Properties: "Pune continues to offer strong demand fundamentals driven by its thriving IT and industrial ecosystem. The signing of our second project in Pune marks an important step in our expansion strategy and reflects our confidence in the city's long-term potential."
Market Context
Pune's residential market has attracted significant interest from national developers over the past 18 months. Pune's residential market in 2026 is projected to maintain its trajectory as a robust end-user destination, anchored by its thriving IT-ITeS and manufacturing ecosystems. The ongoing expansion of mass rapid transit networks and arterial ring roads will be a game-changer, unlocking new land parcels in peripheral zones and making them viable for large-scale residential development.
The timing of Shriram Properties' Hinjewadi commitment reflects broader developer confidence in the corridor's sustained appeal to both owner-occupiers and rental investors seeking proximity to employment hubs.