Paranjape Schemes Construction Limited has been building in Pune since 1987, when brothers Shrikant and Shashank Paranjape entered the city's real estate market. Over the decades the company grew into one of Pune's most recognisable developers, delivering more than 200 projects across nine-plus cities and covering over 20 million sq ft of built area. Its portfolio spans integrated townships — the 138-acre Blue Ridge in Hinjawadi, launched 2007, and the 170-acre Forest Trails in Bhugaon, launched 2009 — as well as plotted developments, commercial spaces, and its signature senior living brand, Athashri. The company has repeatedly looked south along the Pune–Satara corridor for new sites, and Khed Shivapur is now home to a cluster of its projects.
Paranjape Schemes has not treated Khed Shivapur as a one-off land acquisition. Its official project listing on pscl.in shows multiple residential entries tagged "Near Khed Shivapur" — covering plotted developments on the Pune–Satara Highway (Samara Hills, a seven-acre project offering more than 80 plots) as well as affordable 1 and 2 BHK apartment buildings through its Happiness Hub concept. Athashri Ananda, the active Athashri-branded senior living community in Khed Shivapur village, represents the most recent and most significant commitment: a two-tower, 251-unit senior living project registered under MahaRERA and officially launched in March 2024.
The pattern here mirrors what Paranjape has done elsewhere in Pune's western and southern fringes — establish a foothold with affordable apartments, follow with plotted development, then anchor a location with an Athashri campus once the area's low-density, green character is proven. Bhugaon went through the same sequence. Khed Shivapur is at a similar stage today.
Athashri Ananda sits on 1.64 acres in Khed Shivapur village, approximately 23 km south of Pune city on the Pune–Satara National Highway (NH-48). The project launched on 22 March 2024 and carries MahaRERA registration number P52100055420, with a scheduled completion date of 1 February 2029. The development comprises two towers across six residential buildings (numbered 1 through 6 in the master plan), offering a total of 251 units in 1 BHK and 2 BHK configurations, with carpet areas running from approximately 291 to 678 sq ft.
The project is positioned directly on the 60-metre-wide NH-48 carriageway, with Satara Road approximately 0.5 km away. The master plan designates areas for landscaped green spaces and a central water body, with an internal road network connecting all six buildings.
Athashri is Paranjape's oldest and most distinct product line. The brand was launched in 2000 and has grown into what the company describes as India's largest senior citizen community, with more than 2,000 senior families across its campuses. There are six Athashri addresses in Pune alone — in Baner, Bavdhan, Hinjawadi, Bhugaon (Forest Trails), and now two in the Khed Shivapur area. The brand has also extended to Vadodara and Bengaluru.
Athashri Ananda is differentiated from other campuses by its spiritual design concept: the project draws from the Char Dham pilgrimage, with a symbolic interpretive route within the premises — a shaded, planted circuit representing devotion accessible from within the gated community. This gives Khed Shivapur's campus a specific cultural identity that campuses like Athashri Baner or the Forest Trails Athashri in Bhugaon do not carry.
The amenity programme for Athashri Ananda includes a gym, physiotherapy facilities, yoga spaces, a clubhouse, swimming pool, library, guest rooms, a meditation room, lounge area, landscaped gardens, shaded walking paths, kids' play area, party lawn, and walking track. Medical support operates round the clock, and security runs on a 24×7 basis with CCTV surveillance. Units are designed with senior-friendly specifications: wide doorways, panic buttons, and grab rails in bathrooms are standard, and all internal doors — including toilet doors — use flush door construction with vision panels on master toilet doors, a specification that directly addresses mobility and care needs.
Registered government transaction data for Athashri Ananda, from March 2025 to February 2026, shows an average transacted price of approximately ₹6,900 per sq ft. The project's average asking price sits around ₹6,500 per sq ft, which is above the Khed Shivapur locality average of approximately ₹5,200 per sq ft — a spread that reflects the senior living specification premium. Broader Khed Shivapur property prices range from ₹3,500 to ₹5,500 per sq ft across all residential formats as of early 2025, making Athashri Ananda one of the higher-positioned offerings in the micro-market.
Khed Shivapur is one of the named stops on National Highway 4 (NH-48, the Mumbai–Bengaluru corridor) as it passes through Pune district, running from Raigad district at the north end to Satara district in the south. For senior residents this has a specific practical value: highway-standard road access reduces the friction of family visits from across Pune and from Mumbai, and allows ambulance or medical transport on a carriageway without congestion-prone city streets. Pune Junction Railway Station sits approximately 26 km away via NH-48 and Sinhagad Road; Pune International Airport at Lohegaon is approximately 35 km distant.
The area is also on the western stretch of the proposed Pune Ring Road, which is designed to connect Khed Shivapur, Khadakwasla, Hinjewadi, Baner, and Wakad and link into the Mumbai–Pune Expressway. That infrastructure, once operational, would significantly reduce drive times between Khed Shivapur and Pune's western IT corridors — relevant to family members who work in Hinjawadi and visit residents at Athashri Ananda.
For the daily life of a resident who is not commuting, the NH-48 position is an asset rather than a drawback: the area is approximately 25–30 km from Pune's urban core, offering low ambient density, open sight lines, and proximity to Sinhagad Fort (about 12 km) and the Kondhanpur Temple. Siddhivinayak Hospital is among the named medical facilities in the vicinity.
One reason buyers consider Athashri Ananda specifically over independent senior-friendly apartments in the same price band is the Athashri operational ecosystem. Paranjape's Managing Director Shashank Paranjape is also the founder of Athashri Foundation, a not-for-profit entity responsible for the ongoing care and maintenance of Athashri communities. This means the operational model does not depend solely on a for-profit property management company — there is a dedicated foundation-level governance structure. Athashri campuses run structured daily programmes: morning yoga and walking tracks, art studios, outdoor libraries, carrom and chess, pool and tennis in the evenings, and community dining. These are not amenities listed in a brochure and left unused; they are documented as functioning routines across the campuses that have been operational for years.
For a buyer choosing between Khed Shivapur's Athashri Ananda and, say, an unbranded senior-friendly apartment in the same corridor, the Athashri network provides a ready-made peer community — the Happiness Network, which connects families across all Paranjape projects and organises cross-campus events — and a track record of operational delivery that goes back to the brand's 2000 launch.
Beyond Athashri Ananda, Paranjape Schemes maintains residential and plotted inventory in the Khed Shivapur belt. Samara Hills is a RERA-registered plotted project on the Pune–Satara Highway (RERA No. P52100052065) offering more than 80 villa plots from ₹45 lakh, close to Khed Shivapur MIDC. Happiness Hub is an earlier completed apartment project in the same locality offering 1 RK and 1 and 2 BHK units. These earlier entries give Paranjape an established physical presence in the area — site infrastructure, local vendor relationships, and name recognition among the area's buyers — that a developer arriving fresh would not have.
