Shapoorji Pallonji's housing platform Joyville to invest Rs 750 crore for a residential project in Pune

Real estate firm Shapoorji Pallonji's housing platform Joyville will invest around Rs 750 crore to develop a new housing project in Pune, said the company on January 4.

The company is eyeing Rs 1,000-plus crore in revenue from the new project, it said in a statement.

The residential project, located near Hadapsar, Pune, is named Skyluxe and divided into phases.

The first phase comprises duplexes and penthouses. The towers will have 168 duplexes and penthouses with carpet areas ranging from 1,220 sq ft to 1,326 sq ft.

Part of a 9-acre development, the two towers consist of 3BHK duplexes and penthouses with a saleable area of about 2.8 lakh sq ft with exclusive terrace and podium amenities.

The development comprises 75 percent open spaces. The duplexes start from Rs 1.45 crore onwards, the company said in a statement. The two towers include exclusive terrace amenities such as a walking/jogging path, a senior citizen's plaza, a yoga and meditation zone, a barbeque zone, an observatory zone and pergola seating.

Other amenities such as a plunge pool, spa, steam room, gym, café, kids' play area, indoor gaming zone, work-from-home area, screening room and guest rooms will help homebuyers live a luxurious life, offering a perfect blend along with the goodness of nature, the company said.

Speaking at the launch, Sriram Mahadevan, managing director of Joyville Shapoorji Housing, said, "We are excited to announce the launch of our new residential project comprising duplexes and penthouses near Hadapsar, Pune. While doing our research, we found a growing demand for duplexes in the region."

He added, "We are happy to add this project to our growing portfolio and strengthen our presence in the Pune market. Rapid infrastructure development has increased residential demand in Hadapsar. Given the location’s gradual transformation, we are optimistic that Hadapsar will promote a future that will change the way people live."

The project is located on the Pune-Solapur Highway and is well-linked to the neighbouring localities such as Kalyani Nagar and Koregaon Park and even to major transit hubs like the Pune Railway Station, Pune International Airport, SP Infocity and Magarpatta IT Park. The Pune-Ahmednagar Highway, too, passes through this area.

Another upcoming infrastructure development close to the project is the 30-metre R.P. Road connecting Saswad Road and Ring Road, which further connects Nagar Road and the Solapur Highway.