Paranjape Schemes Construction Limited has a longer and more layered presence in Hinjewadi Phase 1 than almost any other developer in Pune's western corridor. The company — established in 1987 by Shrikant Paranjape and Shashank Paranjape — did not discover Hinjewadi recently. Blue Ridge SEZ was the first notified SEZ in Hinjewadi Phase 1, and the Blue Ridge township spans approximately 138 acres and has been occupied by residents since 2010, continuing to grow with newer mid- and high-rise towers. That backstory matters for any buyer considering Paranjape's new launch here: the developer is not entering unfamiliar territory. It is extending a relationship with this precinct that stretches back nearly two decades.
Paranjape Schemes Construction Ltd. (PSCL), established in 1989 in Pune, has delivered 200-plus 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. Within that portfolio, large-scale township developments such as Blue Ridge Township (around 139 acres in Hinjawadi) and Forest Trails Township (about 170 acres in Bhugaon) represent the developer's flagship community-building model. At the NDTV Property Awards 2015 ceremony held in Bengaluru, Paranjape Schemes won an award for Blue Ridge under the category of Best Township Project of India.
The current Paranjape offering in Hinjewadi Phase 1 is Paranjape The Ridges 41 — a new residential tower that sits within, or adjacent to, the Blue Ridge township framework. As part of a broader festive-season pipeline announced in March 2026, Paranjape will introduce one tower in Hinjewadi Phase 1, alongside two new towers on Sinhgad Road and two towers in Bhugaon. The overall Pune West pipeline comprises around 1,400 homes with an estimated revenue potential of Rs 11.75 billion, spanning key micro-markets including Sinhgad Road, Bhugaon, and Hinjewadi Phase 1, with plans to develop over 1.75 million sq ft of residential space.
Hinjewadi Phase 1 is strategically located near Pune's largest IT hub, making it an ideal residential choice for professionals working in the Hinjewadi IT corridor; the project is expected to offer modern living spaces complemented by community amenities and easy access to workplaces, schools, and lifestyle conveniences. The Ridges 41 continues Paranjape's own naming convention within the Blue Ridge precinct — the "Ridges" series directly preceding it (The Ridges) carries RERA registration number P52100055581 under the Maharashtra RERA authority, giving buyers a clear view of the developer's regulatory compliance history in this specific address.
Hinjewadi Phase 1 was the first sector to be developed under the Rajiv Gandhi Infotech Park initiative, making it the most mature and well-connected phase. That maturity translates into tangible advantages for a resident: over 70,000 people find employment at the Hinjewadi IT Park, where global technology companies including Wipro, TCS, Infosys, IBM Global, and Cognizant have established operations. Paranjape was there before most of them, and it built the infrastructure — roads, internal services, the Blue Ridge Public School, and the golf course — that gave the western precinct its residential credibility.
Paranjape Blue Ridge is the most preferred choice for property buyers in the broader Hinjewadi market, recording approximately 231 transactions in the last year — the highest in the area. That transaction volume reflects genuine secondary-market demand, not just launch-period enthusiasm. Paranjape has already handed over 1,000 units across Blue Ridge Township and other projects, with over 5,000 units delivered in Groves (Blue Ridge) and more than 2,000 residences in Athashri (Forest Trails).
A buyer choosing The Ridges 41 does not enter a blank site. They enter an established township environment that Paranjape has been managing and expanding since 2007. The township is designed as a mixed-use development featuring distinct zones for living, business, and recreation; residential areas include developments such as The Lofts and The Groves; commercial activity is integrated with dedicated SEZ 1 and SEZ 2 areas alongside high-street shopping; and extensive open and green spaces include a golf course, children's play areas, and landscaped gardens.
The Blue Ridge SEZ today hosts a workforce of 20,000-plus employees, and various restaurants, cafes, essential shopping centres, and banks are present within the precinct. The SEZ zone occupies tenants including Infosys, Wipro, TCS, Tech Mahindra, Accenture, Cognizant, Tata Technologies, KPIT, Persistent, and Cisco. For a professional working at any of these firms, The Ridges 41 offers the rare combination of living and working within a single planned precinct.
Paranjape's Hinjewadi Phase 1 launches sit within a micro-market that has outperformed the broader Hinjewadi basket on pricing. Flat prices in Hinjewadi Phase 1 currently range from Rs 8,750 to Rs 12,600 per square foot. Flat rates in Hinjewadi Phase 1 changed by 17.9 percent in the last one year, 36.6 percent over three years, and 63.6 percent over five years. That appreciation gradient has been consistent, not episodic. Hinjewadi overall currently averages Rs 9,000 per sq ft with year-on-year appreciation of 15.4 percent; the six-year CAGR stands at 11.0 percent, indicating strong long-term growth potential.
Phase 1 competes with Wakad and Balewadi at a price band of Rs 9,000–11,500 per sq ft, and is best suited for buyers seeking established areas, quick possession, or solid rental potential. The premium over Phase 2 and Phase 3 is justified by infrastructure depth. The upcoming Pune Metro Line 3, connecting Hinjewadi to Shivajinagar, is set to further boost property values in the area. Major road connections include the Hinjewadi–Wakad Road, the Mumbai–Bengaluru Highway (NH-48), and the Hinjewadi–Kasarsai Road.
The township's own school — Blue Ridge Public School, located inside the township, provides primary and secondary education under the ICSE curriculum. Beyond the township boundary, the neighbourhood includes prestigious institutions such as Blue Ridge Public School and Symbiosis International University. Healthcare access is addressed by Ruby Hall Clinic and Hinjewadi Hospital nearby. Residents can easily access the Mumbai–Pune Expressway, Wakad, Baner, and other important parts of the city.
Hinjewadi Phase 1 is one node in a wider Paranjape geography across Pune's west. The developer runs Forest Trails, a 170-acre integrated township at Bhugaon launched in 2009. Its current pipeline adds towers at Sinhgad Road and Bhugaon alongside The Ridges 41, reflecting a deliberate density of activity in the western corridor. Paranjape Schemes today has a growing presence across nine cities — something no other Pune-based developer has achieved at this scale. The firm is also developing three large integrated townships as part of its medium to long-term strategy. For a buyer in Hinjewadi Phase 1, this breadth means that the developer's institutional weight, supply chain, and post-possession support structure are all fully in place — not being assembled for the first time.
