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Shapoorji Pallonji Real Estate (SPRE), one of India’s most trusted real estate developers, 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. The two housing projects are named ‘Wildernest’ and ‘Joyville Celestia’, with a development potential of over 1.7 million square feet. It will develop housing, commercial, educational, healthcare, and retail spaces in this large township.
‘Wildernest’ is Shapoorji Pallonji Real Estate’s first low-density luxury residential project, which sets a new standard for exquisite living. With a focus on biophilic design principles, Wildernest offers 3 and 4 BHK luxurious residences across two towers. The project boasts generous sundecks, a lush mango orchard, and an array of amenities, including a clubhouse, swimming pool, gardens, green spaces, and more.
Nestled within the serene ambience of SP Kingstown, SP under the aspirational housing brand Joyville introduces ‘Joyville Celestia’ that offer 2 and 3 BHK configurations across 2 towers. Joyville Celestia offers more than 40 wellness amenities, reflecting a perfect amalgamation of modern comforts and the tranquillity of nature. Earlier this year, as a part of Joyville Celestia, the company introduced two towers featuring the Sky-Luxe Edition, offering 3 BHK duplexes and penthouses. Previously, Joyville had introduced the Joyville Hadapsar Annexe, comprising 1, 2, and 3 BHKs, a part of this massive 200 acres urban development.
With breath taking views of the Sahyadri Mountains, SP Kingstown is strategically situated along the Pune-Solapur Highway. The project enjoys seamless connectivity to prominent areas like Hadapsar, Magarpatta IT Park, Amanora Park, and SP Infocity. Educational institutes, hospitals, malls, and commercial hubs are in close proximity to the project. Additionally, proposed infrastructural developments, including a four-tier double-decker flyover, a ring road, and a metro line, are set to elevate the region's accessibility and desirability. The upcoming Chhatrapati Sambhaji Raje International Airport near Saswad further emphasizes the promising growth potential of the area.
Pune is currently seen as the most preferred real estate investment destination and the most affordable amongst the Metro cities as per a CREDAI Pune Metro report based on the sales registration data as well as the RERA data. Pune is the fastest growing real estate market among all Metro cities in terms of number of units sold in January-June 2023. Primary sales (excluding Re-Sales) have clocked over 45,000 units worth over Rs 28,000 crore. This shows a 90% growth in sales value and a 40% rise in the total sales volume over the first half of the calendar year in 2019.
During the same period, units priced above Rs 1 crore have seen a sales hike of 250%. The average price of a housing unit sold in Pune in the first half of 2023 was Rs 63 lakh, 37% higher than the average price in 2019.
With its thoughtful planning, luxurious amenities, and commitment to well-being, SP Kingstown represents a paradigm shift in the concept of modern living, offering residents a truly exceptional and enriching lifestyle experience. The strategic placement along the Pune-Solapur Highway and upcoming infrastructural developments gives SP Kingstown a promising growth opportunity. As Pune continues to grow and gain prominence in the real estate sector, SPRE's commitment to excellence is poised to meet the high demand for housing in this dynamic market, reflecting a promising future for the region.
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