Paranjape Schemes (Construction) Ltd. was founded in 1987 by brothers Shrikant and Shashank Paranjape, at a moment when Pune was emerging as a major industrial hub and the Paranjapes were quick to see its potential for quality housing. The corporate office sits on Dr. Ketkar Road, Off Prabhat Road — Pune through and through. Today PSCL has delivered 200+ residential and commercial projects across nine cities including Pune, Mumbai, Bengaluru, and Vadodara, spanning over 20 million sq. ft. of development and serving more than 75,000 residents.
Founded in 1987, the company has developed a diverse portfolio of real estate projects including residential, commercial, hospitality, and SEZ projects, completing over 190 projects and building over 30,000 homes in Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru. For buyers evaluating a developer's staying power, that depth of delivery in a single city carries weight.
The company launched Woodland at Kothrud in 1996 — the tallest single-project building sanctioned in Pune at that point — and entered the senior living segment in 2000 with the launch of Athashri. In 2007 the firm launched Blue Ridge, a 138-acre integrated township with 3.5 million sq. ft. of Special Economic Zone, followed in 2009 by Forest Trails, a 170-acre integrated township at Bhugaon.
PSCL is widely recognised for pioneering large-scale integrated townships such as Blue Ridge and Forest Trails — master-planned environments that seamlessly integrate housing, social infrastructure, open spaces, recreational amenities, retail, and community facilities. The Blue Ridge township, located beside the Rajiv Gandhi Infotech Park in Hinjewadi Phase 1, gave Paranjape deep roots in what is now Pune's defining IT corridor. At the NDTV Property Awards 2015 held in Bangalore, Paranjape Schemes won the "Best Township Project of India" award for Blue Ridge.
Beyond residential and commercial development, Paranjape Schemes also focuses on the development of public facilities such as parks, roads, bridges, community centres, and sports centres. The company's Athashri senior-living brand, launched in 2000, has played a defining role in shaping how ageing is perceived in India, with communities running in Baner, Balewadi, and other Pune suburbs. The Swaniketan brand builds residences that ensure comfort, support, and freedom for the differently-abled.
Paranjape's current Pune portfolio concentrates heavily on the city's western growth arc — Bhugaon along Paud Road, the Sinhgad Road corridor, and Hinjewadi Phase 1. Each of these locations reflects a distinct buyer thesis.
Forest Trails is a 190-plus-acre township studded with trees, indigenous species, valleys, trails, and meandering terrains. It is the anchor from which Paranjape Misty Greens Phase II and III (villa plots) and Paranjape Swaniketan (specially designed residences for the differently-abled and their families) now extend. Paranjape Construction Ltd. has launched Swaniketan at Bhugaon, a residential community designed for differently-abled individuals and their families.
Bhugaon's appeal has sharpened considerably over the past two years. The suburb enjoys excellent connectivity — 10 minutes from Kothrud, 15 minutes from Bavdhan, and minutes from Chandani Chowk — and the Paud Road widening along with the revamped Chandani Chowk flyover have made travel smoother. The Vanaz Metro Station on Pune's Aqua Line is 6 km from Bhugaon, connecting the locality to PMC Bhavan and Ramwadi, while employment hubs at Baner and Hinjewadi are 12–15 km away.
The bigger structural change is the Pune Ring Road. The western section of the Ring Road passes through the Bhugaon–Pirangut–Paud corridor; construction formally started in December 2024, and the western stretch is targeted for completion by 2026–27. Once operational, it will give Bhugaon residents direct access to Hinjewadi, Wakad, and the northern IT corridor without touching Chandani Chowk traffic. On pricing, Bhugaon's flat rates have already moved 12% in the last year and 24.2% over the last three years, yet at roughly Rs 7,500–8,500 per sq ft, the suburb still sits below the Pune average.
Sinhgad Road runs south from Pune's municipal core through Dhayari and Narhe toward the Mumbai–Bangalore Highway. Sinhgad Road, particularly the Dhayari stretch, is a mid-income housing destination in western Pune; enhanced BRTS routes, road widening, and future metro connectivity have made it a draw for mid-income buyers, with 1 and 2 BHK flats at very affordable per-sq-ft levels and good appreciation value. Paranjape's presence here dates back to Abhiruchi Parisar at Dhayari, a 2,646-unit scheme beside the Mumbai–Bangalore Highway. The new towers on this corridor continue that tradition of mid-scale, well-serviced residential supply in western Pune.
Paranjape's history in Hinjewadi stretches back to the Blue Ridge SEZ township launched in 2007. The Ridges 41 is the current live project within that same Blue Ridge precinct at Hinjewadi Phase 1, offering 2, 3, and 4 BHK configurations. Hinjewadi Phase 1 is considered ideal for buyers seeking established infrastructure, proximity to IT parks, and reliable rental returns — it is slightly more expensive than Phase 2 or 3 but offers stability and strong resale value.
Flat prices in Hinjewadi Phase 1 are currently in the range of Rs 8,750–12,600 per sq ft. Flat rates in Hinjewadi Phase 1 have changed by 17.9% in the last year, 36.6% in the last three years, and 63.6% in the last five years. The upcoming Pune Metro Line 3 (Hinjewadi–Shivajinagar) is the single largest near-term catalyst: a 2 BHK in Hinjewadi Phase 1 priced at Rs 75 lakh in 2022 had already crossed Rs 90–95 lakh in 2025, and is expected to reach Rs 1.2 crore after the metro becomes fully operational. Hinjewadi houses major tech giants including Infosys, TCS, Wipro, and Cognizant, ensuring that rental demand from working professionals remains structural rather than cyclical.
Three things are consistent across the Bhugaon, Sinhgad Road, and Hinjewadi addresses. First, township-scale thinking: even where Paranjape is adding new towers to an existing precinct, the underlying master plan — open spaces, amenity programming, community infrastructure — was designed at a scale most standalone projects cannot replicate. Second, product depth across life stages: the portfolio spans residential, commercial, hospitality, and SEZ projects, but within residential alone, Paranjape covers affordable apartments (Sinhgad Road), large-format township flats and bungalows (Forest Trails and Misty Greens at Bhugaon), specially designed accessible homes (Swaniketan), IT-corridor mid-to-premium apartments (Hinjewadi), and senior living (Athashri). Third, community infrastructure: the Happiness Network is Paranjape's platform that connects families across projects, creating a sense of belonging and togetherness that turns every neighbourhood into one big family.
Group Chairman Shrikant Paranjape has been an active member of the Managing Committee of CREDAI (Confederation of Real Estate Developers' Association of India), Pune since 1996 — a signal of institutional engagement with the city's development framework over nearly three decades. For buyers tracking a developer's long-term commitment to a market, that is a meaningful data point.
The Pune real estate market in 2026 is in one of its healthier phases in over a decade, with steady end-user demand, a maturing premium segment, and major infrastructure projects converging — Metro, Ring Road, and more. The corridors where Paranjape is currently active — Bhugaon and Hinjewadi — are specifically named among Pune's strongest appreciation bets for 2026. Bhugaon in particular has moved from "outskirts" to "next-best alternative" in less than three years, positioning itself as a green alternative to Kothrud. For rental yield, Hinjewadi remains one of the dependable picks in the city.