The Shapoorji Pallonji Group has announced a Rs. 700-crore residential project in Pune’s Hinjewadi, under the Joyville brand, in India. Joyville is a $ 200-million platform by Shapoorji Pallonji, ADB, IFC and Actis, for developing “aspirational housing projects” in India. The Joyville project in Pune, Sensorium, is spread over 10 acres and will have 1,100 premium 2 BHK and 3 BHK apartments. These flats will be available at an all-inclusive price of Rs 64.4 lakh onwards. Sensorium is located within Hinjewadi IT Park and is well connected to the Mumbai-Pune Expressway.

“Pune is an important market for us with a demand for quality homes by trusted brands. This project addition fits well with our strategy of strengthening our presence across the country’s leading real estate markets,” said Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate.

The company has already started the handover process of Phase 1 at Joyville Howrah (near Kolkata) as per the timeline and is planning to start the handover process of Phase 1 at Joyville Virar (near Mumbai). The work is on at Joyville Hinjewadi (West Pune) and Joyville Gurugram (Sector 102).

Shapoorji Pallonji Real Estate has a development pipeline of over 80 million sq ft and is looking to double its top line in the next two to three years. The real estate firm is planning to launch new projects and expand its projects in MMR, Pune, Gurugram, Bengaluru and Kolkata in this fiscal year.