Shapoorji Pallonji Joyville investing Rs 1,200 Crore on Residential Project in East Pune!

Shapoorji Pallonji Joyville investing Rs 1,200 Crore on Residential Project in East Pune!

Oct 05 , 2020


A globally diversified organization Shapoorji Pallonji's affordable housing venture "Joyville" will invest approx Rs. 1,200 Crore to develop a new residential community in Pune, confirmed by an official of Shapoorji Pallonji Real Estate.

The main objective behind Joyville is to develop luxury housing at an affordable price in India, backed by Shapoorji Pallonji Group, ADB, IFC, and Actis.

Named as Joyville Hadapsar Annexe is a 5th residential project in India and 2nd in Pune from this venture. Spread over 21 acres of land in East Pune, this residential community will be developed in phases and the first phase comprises 600 units as 1, 2, and 3 BHK Apartments with a starting price of Rs. 37.5 Lacs. Total units in all phases will be approx 2700.

As we mentioned, this is the second residential project in Pune from Shapoorji Pallonji Joyville, first was launched in 2018 as Joyville Hinjawadi and completely sold out.

As stated by the spokesperson of Shapoorji Pallonji Housing, "In Pune real estate there is a huge demand for aspirational homes by reputed real estate brands and this gives us lots of opportunity in this market. After the good response of buyers & investors from our project in Hinjawadi (west Pune), now with an estimated cost of Rs. 1200 Crore, we have launched our new residential project in east Pune wherein we realize that there exists a demand for the same.

According to the real estate experts, there is a flight to quality by real estate investors and COVID-19 has accelerated the process further. Now home seekers & investors are looking forward to quality and reputed brands for reposing their confidence for home buying. And Shapoorji Pallonji Real Estate with Shapoorji Pallonji Group's 155 years legacy would definitely meet and possibly meet their expectations in terms of the apartments in Shapoorji Pallonji Joyville Hadapsar Annexe.

One of the biggest benefits of buying an apartment in this residential project is, eligible homebuyers can also get the interest subsidy up to  Rs. 2.67* under the PMAY scheme on selected apartments.

Even with the pandemic (COVID-19) the real estate developer has already started the possession of phase 1 at Joyville Howrah in Kolkata on time and going to start the possession process of Joyville Virar in Mumbai before time. And construction work of Joyville Hinjawadi and Joyville Gurgaon is expected to be finished on time.

The demand for residential property was crashed badly from April to June as a result of lockdown to control the spread of the coronavirus.

But thankfully, housing sales have improved during the July-September period and are expected to rise in the last quarter of 2020 because of the festive season, and different offers &  discounts are offered by the developer.

The demand for housing is getting consolidated towards big real estate brands and reputed real estate developers with an excellent track record.

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