Paranjape Schemes (Construction) Ltd, founded in Pune in 1987 by Shrikant and Shashank Paranjape, is best known in Maharashtra for large master-planned townships such as Blue Ridge in Hinjawadi and Forest Trails in Bhugaon, and for pioneering the Athashri senior-living format. Paranjape Schemes was founded in 1987 by Shrikant and Shashank Paranjape and has since developed over 200 projects spanning 9-plus cities and approximately 20 million sq ft. The company has completed over 190 projects and built over 30,000 homes in Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru. In Raigad district, that portfolio takes a different form: a low-density, sea-facing villa community at Shekhadi, on the Shrivardhan-Diveagar coastline, rather than a high-rise residential tower.
Paranjape Villas Shrivega is the developer's project in this market, located on the Shrivardhan-Diveagar road at Shekhadi in Raigad. It is set in 38.86 acres and has 159 units in the size range 544.00 sq.ft to 847.00 sq.ft, offered as 1 and 2 BHK villas. The project comprises 159 sea-facing vacation villas and bay vacation homes, with amenities like an infinity swimming pool, barbeque bay, sea view cafe, kitchen garden, and wellness centre. Possession is slated for January 2028. This scale and format is consistent with how Paranjape Schemes approaches leisure and second-home markets: fewer, larger plots designed around open space and a shared clubhouse experience rather than dense apartment stacking.
The address itself signals the project's intent. The site is located on Shrivardhan - Diveagar Road, Shekhadi, Raigad, Konkan. This puts Shrivega within the Shrivardhan-Diveagar-Harihareshwar belt, an area long described locally as the Konkan's Beach Trinity. Diveagar, part of the famous Beach Trinity with Harihareshwar and Shrivardhan, is known for its spiritual landmarks and unspoiled beaches, with nearby attractions including Velas Beach, Bankot Fort, Suvarna Ganesha Mandir, Murud Janjira Fort, and Harihareshwar Beach.
Shrivardhan taluka sits on Maharashtra's western seaboard, roughly 170-185 km from Mumbai and around 160 km from Pune. Shrivardhan is connected primarily by road networks, including proximity to National Highway 66, the Mumbai-Goa highway, and state highways linking it to major cities in Maharashtra, lying approximately 185 km from Mumbai and 163 km from Pune. Paranjape Schemes markets Shrivega's drive time from Mumbai at roughly four and a half hours by the current road network, a distance that is set to shrink meaningfully as coastal infrastructure comes online.
Two projects are reshaping access to this belt. The long-pending Revas-Reddi coastal highway, running through Raigad, Ratnagiri and Sindhudurg, is designed to cut travel times along the entire Konkan coast. The upcoming Revas-Reddy Coastal Highway promises to cut travel time between Mumbai and Sindhudurg to just 4-5 hours, with the new access-controlled highway allowing a fast, scenic coastal journey for commuters and holiday-goers heading to Konkan. Closer to Shrivardhan, bridge works on this corridor are progressing: once operational, the Agardanda Creek Bridge will cut down travel times between Murud, Shrivardhan, Harihareshwar, and other Konkan towns. On the trade side, Dighi Port in the Raigad district is a pivotal maritime gateway on India's western coast, operated by Adani Ports and Special Economic Zone Limited, located on the banks of Rajpuri Creek about 42 nautical miles from Mumbai. Port-led industrial activity around Dighi is expected to bring incremental infrastructure and services investment to the wider Shrivardhan-Mhasala belt over time, even though Shrivega itself sits firmly in the tourism and second-home segment rather than the industrial one.
Buyers evaluating Paranjape Schemes in Raigad should understand the market they are entering: this is coastal Konkan, not a metro extension. Shrivardhan and Diveagar are located in Raigad district and offer a unique and raw Konkan charm, and the region remains under the radar, making it attractive for investors looking to get in before demand accelerates. There is growing demand in this belt for nature-led tourism and wellness-based living. Local social infrastructure reflects a taluka headquarters rather than a large town: Shrivardhan and Diveagar have municipal markets, bus connectivity, ATMs and basic healthcare, with larger hospitals, schools and retail concentrated further away in Mangaon, Alibaug or Pune. This is typical of Konkan leisure-home markets, where the draw is the coastline, temples and quiet pace rather than urban convenience, and where a developer's on-site amenities and management matter more than what exists immediately outside the gate.
Paranjape Schemes' credibility in this market rests on its record in other township-scale projects rather than a long history specifically in Raigad's coastal belt. Paranjape Schemes (Construction) Ltd is a legacy developer known for pioneering new-age residential formats, having marked 25 years of its Athashri senior-living platform. The company is widely recognised for pioneering large-scale integrated townships such as Blue Ridge and Forest Trails, master-planned environments that integrate housing, social infrastructure, open spaces, recreational amenities, retail and community facilities, designed as self-sustained ecosystems. These projects have been recognised at industry platforms; Blue Ridge in Hinjewadi and Forest Trails at Bhugaon are two award-winning townships recognised at national platforms including the NDTV Property Awards 2015 and the CNBC Awaaz Real Estate Awards. A buyer at Shrivega is essentially trusting the same construction and delivery organisation that has built these mainland townships to translate that discipline into a low-rise, sea-facing villa format on the Konkan coast.
