Paranjape Schemes (Construction) Ltd was established in 1987 by Shrikant Paranjape and Shashank Paranjape, and in the nearly four decades since, the firm has grown into one of Pune's most recognisable residential names. Its portfolio now spans 200-plus projects across nine cities and seven countries, covering 20 million square feet. Of its 83 residential and commercial projects tracked nationally, 58 are in Pune alone. That density of local delivery—from redevelopment plots in Erandwane to the 138-acre Blue Ridge integrated township in Hinjewadi and the 170-acre Forest Trails township in Bhugaon—means Paranjape Schemes' entry into any new Pune micro-market carries a weight of known precedent.
The company entered real estate in Pune in 1987, launched Woodland at Kothrud in 1996 (then the tallest single-project building sanctioned in Pune), and marked its foray into senior living in 2000 with the Athashri brand. That senior-living line is the one that arrives in Balewadi under the name Athashri Synergy.
Paranjape Schemes Athashri Synergy is addressed at Patil Nagar, Balewadi, Pune, Maharashtra 411045. The project is spread over 0.70 acres, is RERA-registered under ID P52100001787, and 2 BHK units are priced from Rs. 63.28 lakhs. The development comprises 97 units across 9 floors, with unit sizes ranging from 350 to 452 sq ft.
The project offers 1 BHK and 2 BHK apartments. Residents have access to a gymnasium, swimming pool, kids' play areas, yoga areas, jogging and cycle track, power backup, 24x7 security, CCTV surveillance, fire-fighting systems, intercom, sauna, clubhouse, indoor swimming pool, landscaped green areas, rainwater harvesting, and visitor parking.
The Athashri brand is not simply a product line for Paranjape Schemes—it is the company's longest-running format. Athashri is described by the developer as not a project but a purpose—a dream that began around the turn of the century. Athashri provides a unique senior-citizen-oriented living format centred on family care, security, and community life. Across its existing Pune townships, the company has delivered more than 2,000 residences under the Athashri format at Forest Trails alone. Bringing that format to a compact urban site in Balewadi—rather than a fringe township—signals a deliberate effort to meet buyers closer to the city's established social infrastructure.
West Pune has seen remarkable development over the last decade, with Balewadi among the localities that have become hotspots for IT professionals due to proximity to tech parks and expressways. Balewadi Phata and Baner Road provide direct access to Hinjewadi IT Park, while the Mumbai-Pune Expressway and the Pune-Bangalore Highway connect the locality to other cities.
The Lofts, another Paranjape Schemes project, is situated in Balewadi, described as a high-growth region known for its proximity to Hinjewadi IT Park. Nisus Finance Services announced a strategic investment of Rs 90 crore into that project, channelled through its Nisus Real Estate Special Opportunities Fund-I. That funding highlights steady demand for housing in Pune, particularly in areas connected to major IT and infrastructure corridors. Institutional capital moving into a developer's Balewadi projects reflects market conviction, not just developer ambition.
Paranjape Schemes has noted that its Balewadi projects benefit from infrastructure tailwinds, including the upcoming Pune Metro Line 3. The 23-km Hinjewadi-Shivajinagar Metro corridor is nearing completion, with the first 11-km stretch expected to become operational in mid-2026 and the remaining 12-km section shortly after. Hinjewadi, Wakad, Baner, Balewadi, and Aundh are the localities expected to benefit most from this corridor.
The premium belt of West Pune, including Baner and Balewadi, has capital values ranging roughly between Rs 9,000 and Rs 13,000 per sq ft, with ticket sizes for a 2 BHK often touching or crossing Rs 90 lakh to Rs 1.2 crore. In terms of price appreciation, flat rates in Balewadi changed by 3.4 percent in the last year, 25.4 percent over three years, and 52.5 percent over five years.
Balewadi sits at the top of Pune's price band and has shown stable, single-digit annual appreciation—a market where buyers prioritise liquidity and lifestyle rather than speculative capital growth. That profile suits the typical Athashri buyer: someone choosing a city-connected, well-served address for long-term residence rather than a short flip.
The average rental yield in Balewadi stands at around 3 percent, consistent with a mature micro-market that has absorbed significant supply without overshooting. The Pune Metro Phase 1, covering 33.2 kilometres, became fully operational in 2025, and properties within 500 metres of metro stations have seen price increases of 10 to 20 percent, making Balewadi easily accessible from all parts of Pune.
Schools in the vicinity include MITCON International School, Nandgude Patil High School, Kidzee Pre School, and Hopscotch Pre School, while healthcare facilities include Apple Hospital, Asha Kiran Hospital, Sakhi Nursing Home, Surya Mother and Child Super Specialty Hospital, and Metro Hospital. Balewadi also enjoys close proximity to Aundh, Baner, and the Mumbai Expressway, with the airport located 20 kilometres away and the railway station 10 kilometres away.
Balewadi and neighbouring regions including Aundh and Baner are included in development proposals under the Smart Cities Mission initiated by the Government of India in 2015. The nearest metro station to Paranjape Athashri is 1.04 kilometres from the project.
The company has completed over 190 projects and built over 30,000 homes in Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru. Across Pune's western belt specifically, Paranjape Schemes is active in Hinjewadi (Blue Ridge township), Bhugaon (Forest Trails township), Wakad (Broadway and Trident), Bavdhan (Gloria Grand), Tathawade (Azure), and Rahatani (Richmond Park). Balewadi, therefore, sits inside an existing geographic cluster for the developer rather than representing an isolated foray.
The Paranjape brothers—Shrikant and Shashank—are known for their ethics and transparency, having built trust across a customer base of over 15,000 families. Shrikant Paranjape has served on the Managing Committee of CREDAI Pune (PBAP) since 1996, and he is the founder of Athashri Foundation, a not-for-profit entity involved in the ongoing care and maintenance of senior living communities. The Athashri format carries a governance structure beyond the construction phase—a relevant point for buyers choosing a residential community for the long term.
Among the company's recognised projects: Blue Ridge received the Best Residential Project award at the CNBC Awaaz Real Estate Awards in 2016, and Forest Trails received the same award in 2015. At the NDTV Property Awards 2015, Paranjape Schemes won for Blue Ridge under the category of Best Township Project of India.