Founded in 1987 by Shrikant Paranjape and Shashank Paranjape, Paranjape Schemes Construction Limited today counts 200-plus projects across nine-plus cities and seven countries, covering 20 million sq ft. Within that portfolio, Bhugaon occupies a singular position: it is where the company built its largest and most layered land holding in Pune, and where it continues to add product categories that no single location in their network carries elsewhere.
Paranjape launched Forest Trails — an integrated township of 170 acres at Bhugaon — making it the largest bungalow scheme in Pune, with 450-plus bungalows. That original bet, made years before Bhugaon became a recognised micro-market, has since expanded into a multi-phase township that now houses plotted land, villas, apartments, a senior-living campus, and India's first dedicated housing for differently-abled individuals — all on a contiguous land parcel off Paud Road, opposite Manas Lake.
Spanning across 170-plus acres in Bhugaon, Paranjape Forest Trails offers a mix of independent villas and premium apartments — including product lines such as The Cove and The Canopy — and features an operational horse-riding school, a lifestyle clubhouse, and lush green valleys. The township delivers 90% open spaces, beautiful walkways, and The Cliff lifestyle club, while the Highlands Clubhouse provides a health club, swimming pool, and table tennis.
The township has grown incrementally rather than in a single burst. Plotted phases such as Misty Greens sit within the 190-acre Bhugaon township, and every parcel comes with clear titles, complete 7/12 extracts, and PMRDA NA sanctioning. The Equestrian Academy and an SSRVM school operate within the campus, giving the township its own institutional infrastructure rather than depending entirely on what lies beyond the gate.
Paranjape Misty Greens is set on a 45-acre land parcel within the township, offering 31 villas with G+2 floors in 3 BHK and 3.5 BHK configurations, alongside plotted premium residences ranging from 1,500 to 7,000 sq ft. The project's RERA number is P52100049327. Phases II and III continue this plotted and villa format that earlier Misty Greens phases established.
The project address is Misty Greens, Paud Road, Bhugaon, opposite Manas Lake, Pune, Maharashtra 412115. Nearby landmarks include the Vanalika Bus Stop at 1.6 km, Lavale Fata at 2.3 km, and Bharati Vidyapeeth College of Engineering at 4.2 km.
Amenity specifications for the project include a basketball court, a one-acre clubhouse, an infinity pool and jacuzzi, a gymnasium, a leisure spa and salon, a squash court, a badminton court, an audio-visual room, and a creche. Internal unit specifications include vitrified tiles, granite kitchens, earthquake-resistant construction, video door systems, digital locks, DG backup, solar water heaters, and SS railings.
Paranjape Swaniketan is described by the developer as India's first exclusive homes for the differently-abled and their families, created to build a supportive community where such individuals can thrive with dignity. It is delivered through the Paranjape Special Projects Division (PSPD), a dedicated wing focused on creating projects for communities with particular care needs, built on four pillars: curation of needs, association for social infrastructure, research to improve facilities, and engagement to create a self-sustaining support system.
The project is located on Paud Road, Bhugaon, opposite Manas Lake, Pune 412115 — physically within or adjacent to the Forest Trails township boundary. Planned facilities include hostel-style assisted living for individuals who live independently of parents or guardians, along with a vocational centre, therapy centres, recreational facilities, caregiver spaces on each floor, and a day-care facility.
The decision to site Swaniketan at Bhugaon rather than in a more central Pune location reflects the township's scale: only a campus of 170-plus acres has the physical and operational capacity to absorb a purpose-built community of this kind while keeping it integrated with a functioning residential neighbourhood.
Paranjape Schemes — which describes itself as India's largest senior citizen housing provider, with more than 2,500 families staying across 15 Athashri communities — launched its latest senior living project at Forest Trails in Bhugaon in December 2024. This marks the 16th senior living community developed by the company.
Athashri as a concept was started in 2002 by Shashank Paranjape, designed around the specific lifestyle requirements and daily necessities of senior residents. The Athashri design philosophy includes slip-resistant flooring, emergency switches in bedrooms, panic chords in toilets, and wheelchair-friendly layouts across all projects. Residents at the Bhugaon Athashri have access to a clubhouse with indoor games, a fitness club and gymnasium, a swimming pool with water therapy facilities, gardens, walkways, dining services, housekeeping and maintenance support, and 24/7 security.
The result is that a single address — Forest Trails, Bhugaon — now carries Paranjape's three specialist product lines: the township residential offering, the Athashri senior community, and the Swaniketan differently-abled housing. That breadth of product type at one location is unusual in Pune's western corridor and distinguishes Bhugaon from the company's other active markets such as Hinjewadi Phase 1, Sinhgad Road, and Wakad.
In March 2026, Paranjape Schemes announced a project pipeline across Pune West comprising around 1,400 homes with an estimated revenue potential of Rs 11.75 billion, spanning Sinhgad Road, Bhugaon, and Hinjewadi Phase 1, with plans to develop over 1.75 million sq ft of residential space. Of these, two new towers are planned specifically at Bhugaon.
The location rationale is straightforward. Bhugaon offers scenic surroundings, improving infrastructure, and seamless connectivity to Kothrud and the Mumbai–Bangalore Highway. Surrounded by Bavdhan, Bhukum, Chandni Chowk, Kothrud, and Mukaiwadi, Bhugaon connects via Mulshi Road and offers access to the Hinjewadi IT Park and Wakad commercial estate.
Bhugaon has moved from being considered an outlier to a credible next-best alternative to Kothrud in less than three years, with its positioning as a green alternative to Kothrud now widely recognised. The western section of the Pune Ring Road passes through the Bhugaon–Pirangut–Paud corridor, with construction formally starting in December 2024 and the western stretch targeted for completion by 2026–27.
For Paranjape specifically, this means that a township it assembled over many years is now approaching its infrastructure moment: the Ring Road will give Forest Trails direct-access connectivity to Hinjewadi, the Mumbai–Bangalore Highway interchange, and ultimately Kharadi and Lohegaon airport without routing through Pune's city junctions.
Understanding where Paranjape's Bhugaon product sits in the area's pricing band matters for buyers comparing options. Average apartment prices in Bhugaon range from Rs 6,500 to Rs 8,500 per sq ft, with premium projects commanding Rs 9,000-plus. Compared to Bavdhan at Rs 10,000–13,000 per sq ft, Kothrud at Rs 14,000–18,000, or Baner at Rs 12,000–16,000, Bhugaon offers substantially more space for the same outlay.
Property registration data from Maharashtra's Inspector General of Registration shows Bhugaon's average rate was around Rs 5,500–6,200 per sq ft at the 2022 baseline, moving to Rs 6,800–7,800 per sq ft after the Ring Road's detailed project report was finalised and land acquisition began in 2024. Bhugaon is among the locations expected to see meaningful re-rating as Ring Road connectivity is fully delivered, with buyers entering in 2026 positioned ahead of that re-rating.
Paranjape's plotted and villa product in Misty Greens operates at the premium end of this band, given the township's owned infrastructure — club, school, equestrian academy, 24/7 services — which justifies a per-sq-ft premium over standalone projects in the same pincode.
From Paranjape Misty Greens, Avishkar English School is 1.77 km away, Varad Hospital is 1.96 km away, and Ganga Legends Sports Complex is 3.07 km away. Vishal Shopping Complex is 3.11 km away, and Lohia F1 IT Park is 2.76 km away. The broader Bhugaon locality also benefits from Manas Lake nearby and dense forest surroundings that provide green cover.
The Chandani Chowk six-lane flyover is cited by Forest Trails residents as a key infrastructure improvement that strengthens the location's access to Pune's western commercial belt. Paud Road and Mulshi Road together provide the current primary road matrix, with the Ring Road set to add a third, higher-capacity corridor.