Shriram Properties Eyes Pune for Expansion

Shriram Properties is gearing up for a significant expansion with its eyes set on the Pune market, known for its strong growth and being the second-largest in terms of housing absorption. This move is part of Shriram Properties' broader growth strategy, which now includes a foray into the vibrant Pune region.

A Strategic Partnership for Pune Development

In line with its ambitious plans, Shriram Properties has entered into a development management agreement to kickstart a residential project in the promising locale of Undri, Pune. This decision, rooted in the company's asset-light growth approach, marks a calculated step towards exploring new opportunities within this model.

Pune: A Market Mirroring Shriram Properties' Core

Recognized as one of India's fastest-growing residential markets, Pune shares several characteristics with Shriram Properties’ primary markets, including similarities in customer demographics, product preferences, and pricing strategies. These commonalities provide a strong foundation for Shriram Properties’ strategic entry into Pune, a decision that was made after a year-long comprehensive evaluation.

Envisioning a Landmark Project

Shriram Properties has acquired development rights to embark on a project that is set to transform over 1.7 million square feet into residential spaces, complemented by 0.3 million square feet of commercial area. With a projected sales value exceeding Rs 1,300 crores, this ambitious project is slated for completion within the next three to four years, with its launch anticipated in March/April 2024, pending final plan approvals and RERA certification.