The project, called ‘VANAHA Verdant’, will comprise 600 apartments and offer around 10 lakh square feet of saleble area. It is part of SPRE’s flagship 1,000-acre integrated township, VANAHA, near Bavdhan locality of Pune.
“Spread across 5 acres, the upcoming project will offer approximately 10 lakhs square feet of saleable area, with an estimated revenue potential of about ₹800 crore,” it stated.
‘Project reflects what homebuyers want’, says Executive Sriram Mahadevan
According to Sriram Mahadevan, SPRE’s CEO and MD of Joyville Shapoorji Housing, the VANAHA Verdant project reflects “what today’s homebuyers value most: balance, access, and long-term value”.
He added that the build is close to nature, had integrated commercial spaces and a low-density layout.
The official statement on July 16 did not disclose the project cost.
Top 7 housing markets see rising demand
The statement added that till date, SPRE has sold more than 2,000 apartments worth ₹1,800 crore across mid-segment within their VANAHA township, adding that India’s top seven housing markets are seeing “significant” rise in price and demand.
“Post-Covid pandemic, India’s top seven housing markets — Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, Chennai, Hyderabad, Kolkata, and Pune — have witnessed significant rise in demand and prices, especially for builders having good track record of executing projects on time,” it added.
Among the country’s leading real estate developers Shapoorji Pallonji Real Estate, is part of the conglomerate Shapoorji Pallonji Group. It has a presence in Pune, Mumbai, Kolkata, Gurugram and Bengaluru and development potential of over 130 million square feet, it said.
According to a report by PropEquity, housing plots worth ₹2.44 lakh crore have been launched in past three and half years because of higher demand post-Covid pandemic, PTI reported.
Nearly 4.7 lakh residential plots have been launched by developers between January 2022 and May 2025 across 10 tier-I and tier-II cities such as Hyderabad, Indore, Bengaluru, Chennai, Nagpur, Jaipur, Coimbatore, Mysore, Raipur and Surat.
In the first five months of 2025, as many as 45,591 residential plots have been launched, it added.
