Paranjape Schemes Construction Ltd runs its Nashik operations from an office off Mumbai-Agra Road in New Nashik, placing the company directly in the Pathardi Phata-Cidco corridor where it has built one of its largest single-site commitments outside Pune. Nashik S.No. 980/981, Mahale Farm, Off Mumbai - Agra Road, New Nashik - 422009 is listed as the company's regional office address. Within this belt, the developer's flagship is Aaryavarta, and Mithila at Aaryavarta is the newest residential tower being added to that township, located in the Cidco-Pathardi Phata pocket of the city.
Paranjape Schemes was founded by the visionary Mr. V.B. Paranjape in 1930 in Mumbai, pioneering the concept of finest quality, affordable housing as well as the concept of cooperative housing society. The business in its present form was rebuilt in Pune: established in 1987 by Mr Shrikant Paranjape and Shashank Paranjape, the company has developed a diverse portfolio of real estate projects, including residential, commercial, hospitality, and SEZ projects. From that Pune base the group has since grown into a multi-city, multi-country platform — 200+ projects across 9+ cities and 7 countries, covering 20 million sq ft, built on 35 years of excellence and trust. Its better-known addresses include the Blue Ridge SEZ and residential township in Hinjewadi and the 170-acre Forest Trails bungalow township in Bhugaon, alongside the Athashri senior-living brand that the group has run since the turn of the century. Nashik has been part of this expansion for well over a decade, with the builder having delivered 57 projects so far in Nashik, around 10 projects upcoming, and 16 projects currently under-construction per listing-platform tallies — evidence of sustained, rather than one-off, presence in the city.
Aaryavarta is positioned by the developer itself as a category leader in the city: the 1, 2, 2.5 and 3 BHK apartments of Aaryavarta are crafted to revitalize your senses, and it is the first gated and integrated township in Nashik, with every age group kept in mind while designing this project. The township sits on a large landholding — reported variously as a 51 acres integrated residential township spanning multiple sectors — at Lekha Nagar and Maharana Pratap Chowk, off Mumbai-Agra Road, with phases also referenced under Prabhat Colony and Cidco depending on the sector. The connectivity of Aaryavarta offers a fusion of serene lush greens and stellar convenience hubs, from Nashik to Mumbai to Pune, and it is also present in proximity to the Trimbakeshwar temple. Completed phases of Aaryavarta are already occupied, with residents having moved in and apartments carrying an Occupancy Certificate, giving a buyer at Mithila a visible, lived-in township context rather than a plan on paper.
Mithila at Aaryavarta is the newest tower cluster within this township, registered independently under RERA number P51600031023. The project is spread over an area of 4.15 acres, with around 429 units on offer across 3 towers with 12 floors each, in 1 phase. Possession of MITHILA at Aaryavarta starts from Jun, 2026, making it a near-term delivery within the broader township rather than an early-stage land parcel. The key amenities of MITHILA at Aaryavarta are Swimming Pool, Gymnasium, Club House, Children's Play Area, Park and Badminton Court, supplemented by cricket-pitch and indoor-games space reported for the project, and an intercom-enabled security setup. Krushnai Hospital is a popular landmark in Cidco, close to the address, adding an immediate healthcare reference point for residents while the township's own social infrastructure matures.
Pathardi Phata is one of Nashik's fastest-densifying residential belts, and its infrastructure trajectory is a direct input into how a Paranjape township here performs over the ownership period. Access to Nashik Railway Station is at a distance of 9 km via NH-16, and the locality is at a distance of 28 km from Nashik Airport in Ozar via the Mumbai-Agra Highway, keeping both intercity rail and air travel within a manageable radius of the township. On upcoming infrastructure, the proposed Nashik Metro Line 1 will have a Mumbai Naka stop within 6 km of Pathardi Phata and connect to Gangapur, the planned Nashik Ring Road will offer enhanced connectivity to other parts of the city, and the Nashik Road railway station is proposed to be developed as a multi-modal transport hub. Wider road capacity is also being added at scale: NHAI has awarded the Nashik Phata-Khed corridor project, to be executed in two phases at a total cost of ₹7,800 crore, and the Railway Board has approved two new railway lines between Manmad and Kasara for a direct Nashik-Mumbai local train service. For social infrastructure, the immediate catchment includes GD Sawant College of Arts, Guru Gobind Singh College of Engineering and Ashoka College, along with malls such as Atlanta Shopping Mall and Roongta Mall within 4 km, and hospital cover from Saptashrungi Hospital, Vakratunda Multispeciality Hospital and Sahajeevan General Hospital.
Pathardi Phata remains a mid-segment, entry-friendly locality relative to Nashik's premium riverside pockets. Flat prices in Pathardi Phata are in the range of Rs 3,400-4,650 per sq ft, with the average property rate for flats at around Rs 4,000 per sq ft, and rates have moved 11.1% over the last 3 years and 27.0% over the last 5 years, despite a short-term dip. Independent market coverage frames this as a structural, not cyclical, trend: the Nashik real estate market is characterized by steady, organic growth, driven by improved road connectivity, expanding civic infrastructure, and increasing industrial activity, with areas like Pathardi Phata projected to experience stronger value growth. Within this locality, Paranjape's own Aaryavarta project has tracked the broader curve, with average property prices for Paranjape Aaryavarta moving from ₹3,750/sqft to ₹3,800/sqft during Q3 2025, a 1.33% rise — a data point a buyer evaluating the newer Mithila towers within the same township can use as a reference for how the developer's product has priced in this micro-market.
A buyer here is not evaluating an unproven entrant: Paranjape Schemes has decades of delivery history in Pune and Mumbai, an established regional office in New Nashik, and a track record inside the Aaryavarta township itself, where earlier phases are occupied and carry Occupancy Certificates. Mithila at Aaryavarta extends that same township brand into a RERA-registered, near-term-possession tower cluster, set inside a locality that is being actively upgraded on road, rail and metro connectivity while remaining priced meaningfully below Nashik's premium corridors.
