Paranjape Schemes Construction Ltd (PSCL), established in 1989 in Pune, has delivered more than 200 residential and commercial projects across nine cities, covering over 20 million sq ft of development and serving more than 75,000 residents. Founded by Shrikant Paranjape and Shashank Paranjape, the company built its reputation initially across Pune before diversifying into residential, commercial, hospitality, and SEZ categories. Over the years the group expanded into commercial and residential real estate and also built integrated retirement homes for senior citizens, with an ever-expanding presence not only in Pune but also Mumbai, Nashik, Kolhapur, Chiplun, Ratnagiri, Bengaluru, and Vadodara.
PSCL is widely recognised for pioneering large-scale integrated townships such as Blue Ridge and Forest Trails — master-planned environments that seamlessly integrate housing, social infrastructure, open spaces, recreational amenities, retail, and community facilities. Key milestones in the company's growth include the 1996 launch of Woodland at Kothrud — the tallest single-project building sanctioned in Pune at that time — and the year 2000 launch of Athashri, marking its foray into senior living. Beyond mainstream residential and commercial real estate, the company has led the way in purpose-driven living formats, including Athashri (senior living communities), Aastha (assisted living), and Swaniketan, India's first residential ecosystem designed for differently-abled individuals and their families.
Manpada in Thane West is among the most sought-after areas across the Mumbai Metropolitan Region, known for its spacious real estate options. A fast-growing residential locality in North Thane, the region has witnessed rapid growth owing to its prime location between Thane and Mumbai and connectivity to major arterial roads. Tikuji Ni Wadi Road and Khewra Cir Marg are the two key internal roads connecting the area to NH48, placing it 5.6 km from Ghodbunder Road, 1.7 km from Thane, and 24.2 km from Navi Mumbai.
Ghodbunder Road serves as a connector between the Eastern Express Highway and the Western Express Highway, making Manpada a practical base for professionals working across Mumbai's dispersed job corridors. Odyssey and THANEONE are established IT parks located 3–7 km from the locality, while Thane station — with its vast rail network — is approximately 7 km away. The locality is also within 5 km of the Kolshet Industrial Area and is home to schools including Carmel High, Sanket Vidyalaya, and Sarvodaya English, along with hospitals such as Oscar Multispeciality.
The most consequential near-term shift for Manpada buyers is the planned Thane Internal Ring Metro. The 29-kilometre circular corridor was approved by the Union Cabinet on August 16, 2024, with a sanctioned cost of ₹12,200 crore and is now in its active tendering phase. Manpada is listed as one of the 22 stations on the proposed route, which also passes through key commercial and residential areas such as Wagle Estate, Kolshet, and Balkum, benefiting thousands of daily commuters. This metro line will also have links to Metro Line 4 and Metro Line 5, creating an integrated network across Thane and into Mumbai.
Areas around Ghodbunder Road, Teen Hath Naka, Manpada, and Kasarvadavali are already seeing stronger launches and healthier absorption in 2025–26. Flat rates in Manpada changed by 4.4% in the last one year, 15.7% in the last three years, and 31.2% over five years, with average property rates standing around ₹22,500 per sq ft.
Paranjape Opulus is a project by Paranjape Group in association with Richa Realtors, situated next to Hiranandani Meadows off Pokhran Road 2 in Manpada, Thane West, and offers 2 BHK and 3 BHK flats along with Jodi Apartments. The project spans 4.84 acres across 5 towers of 29 floors and delivers 1,041 units total. Carpet areas for the homes range from 620 sq ft to 864 sq ft across the 2 BHK and 3 BHK configurations.
The project offers amenities that include a leisure club, yoga deck, spa, pool, gym, kids' play area, clubhouse, amphitheatre, multipurpose hall, and steam room. Home loans for the project have been approved by HDFC Bank, ICICI Bank, and State Bank of India. Paranjape Opulus is registered under MahaRERA (Maharashtra Real Estate Regulatory Authority) with registration number P51700022773.
Key landmarks in the immediate vicinity of the project include DAV Public School, Wonder Mall, and Tieten Hospital. The project is strategically located in a well-developed area with proximity to schools, malls, and green spaces like Upvan Lake and Tikuji-Ni-Wadi.
For a buyer evaluating the developer's credibility in an unfamiliar market, Paranjape's track record in Maharashtra is directly relevant. Over the decades, PSCL has built a strong reputation for timely delivery, quality construction, and enduring customer relationships. The Happiness Network is Paranjape's platform that connects families across projects, creating a sense of belonging and togetherness that turns every neighbourhood into one big family. The Athashri platform alone spans close to 16 senior living communities, supporting over 3,000 seniors across multiple cities — an indicator of the group's ability to build and sustain communities at scale, not just deliver buildings.
Chairman Shrikant Paranjape is a qualified Chartered Accountant and has been an active member of the Managing Committee of CREDAI Pune since 1996. Managing Director Shashank Paranjape is the founder of Athashri Foundation, a not-for-profit entity involved in ongoing care and maintenance of senior living communities, and serves on the boards of several educational institutions and NGOs in Mumbai, Pune, and Parbhani. That institutional depth — across governance, finance, and community management — distinguishes Paranjape's Manpada entry from developers with a single-project presence in the city.
