Paranjape Schemes (Construction) Ltd, the Pune-headquartered developer better known in western Maharashtra as PSCL, has taken up what its own announcement calls the last available land parcel in the Meadows area of Thane for a project named Codename Lighthouse in the City, also marketed as Paranjape Opulus. Paranjape Schemes, a leading name in the Indian real estate sector, proudly announces its strategic partnership with Empire Grand for their Thane project – lighthouse in the city. The project is the last land parcel in the Meadows area and will become one of the tallest buildings in the area.
Paranjape Schemes was established in 1987 by Mr Shrikant Paranjape and Shashank Paranjape, and the firm has since built a portfolio spanning residential, commercial, hospitality and SEZ development. Paranjape Schemes has completed over 190 projects and built over 30,000 homes in Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru. The company's Thane entry sits alongside a body of work that includes two of its more recognised townships: the Blue Ridge Township spread over 138 acres in Pune Hinjewadi and Forest Trails Township spread over 170 acres in Bhugaon. Paranjape Schemes is also credited with introducing a category of Indian housing that few developers had attempted at the time: in 2001, for the first time in the country, Paranjape Schemes (Construction) Ltd launched a residential project called 'Athashree' for senior citizens that had all the facilities required by the senior citizens. That project format has since expanded well beyond its Pune origin, with the 'Athashree' project found at 8 locations in Pune and it is being constructed in Bengaluru and Vadodara too.
The company has continued to raise capital for its township pipeline in recent years. In September 2025, Paranjape Schemes raised INR 150 crore from WSB Real Estate Partners, along with its co-investors, to support strategic land acquisitions across key township projects, with funds utilized to activate high-potential land parcels within Blue Ridge in Hinjawadi and Forest Trails in Bhugaon. Within this broader footprint, the portfolio is heavily weighted toward Pune's western corridor, with a smaller but meaningful presence in Mumbai and Thane — a presence that Codename Lighthouse in the City is meant to extend.
The Thane project was announced through a formal partnership rather than a solo launch. Mr. Amit Paranjape, Head of Business Development, Paranjape Schemes (Construction) Ltd, stated, \"We are excited to partner with Empire Grand for this iconic project.\" He framed the city itself as the reason for the move: \"Thane is rapidly becoming one of the most sought-after destinations for homebuyers, and with this project we aim to set a new benchmark in luxury living.\" His Empire Grand counterpart pointed to the same rationale from the other side of the table: Ms. Apurva Mhaske, Director at Empire Grand, added, \"This partnership with Paranjape Schemes brings together two strong brands with a history of delivering excellence in real estate.\"
The development is planned as a twin-tower residence rather than a sprawling township, in keeping with the constrained size of the last plot inside the Meadows precinct. Introducing two beautifully designed towers with spacious 2 and 3 BHK apartments, complete with a stylish clubhouse and swimming pool. Open space has been prioritised on a compact footprint: spread over 30,000 sq. ft. of open spaces, the property offers modern amenities like a sky lounge, yoga deck, and multipurpose areas. The amenity list runs toward active and social use rather than purely decorative landscaping — reflexology paths, barbecue zones, and cabanas, along with fitness options like dedicated spaces for aerobics, Zumba, and dance. Healthcare access was called out specifically in the launch material: with a well-known hospital next door and excellent healthcare facilities nearby, these premium amenities offer unmatched convenience and comfort. That hospital reference lines up with Jupiter Hospital, a 2007-established multi-specialty facility on the Eastern Express Highway serving the Thane–Mumbai belt.
The Lighthouse site sits inside Manpada, the Thane West micro-market built around Hiranandani's own 40-acre township, and the road network there is already dense rather than emerging. The site offers good external connectivity to Eastern Express Highway (2.3 km), Thane Ghodbunder Road (2.1 km), and Agra Road (2.2 km). Two infrastructure projects now under construction will tighten that further: the upcoming Thane-Borivali Tunnel, slated for completion around 2028, will drastically cut travel time to Borivali, reducing it from over an hour to approximately 15-20 minutes, while the physical infrastructure for Metro Line 4 (Wadala–Kasarvadavali) is now fully visible across large stretches of Thane West, with viaducts and stations forming a prominent part of the urban landscape, and trial runs on completed sections have commenced, indicating steady progress toward phased commissioning.
Pricing in this pocket already sits at the top of Thane West's ladder rather than in its growth-stage range. Premium localities such as Hiranandani Estate, Manpada, Panch Pakhadi, Hiranandani Meadows and Pokhran 2 start around Rs 19,000 per sq ft, compared with the mid-segment stretches of Ghodbunder Road and Kolshet Road nearer Rs 16,500–19,000. Demand in this bracket has a consistent driver: recent trends indicate a surge in demand for 2BHK and 3BHK apartments, driven by young families and professionals seeking a blend of urban convenience and suburban tranquility, with excellent connectivity to Mumbai and Navi Mumbai further fuelling the demand.
For someone evaluating Codename Lighthouse in the City, the case rests on two separate but connected facts: a developer with a documented 190-plus project history stretching back to 1987, now entering Thane through a named joint-venture partner on a plot the company itself describes as the last one available inside an established, premium Hiranandani-anchored neighbourhood. The locality's own maturity — Jupiter Hospital, the Eastern Express Highway and Ghodbunder Road junctions, and an under-construction metro line — is not incidental background; it is the reason a scarce infill parcel in Manpada carries the pricing and demand profile it does, and the reason Paranjape Schemes and Empire Grand structured this particular launch as a tall, amenity-dense twin-tower format rather than a low-rise scheme.