Established in 1987 by Shrikant Paranjape and Shashank Paranjape, Paranjape Schemes (Construction) Ltd. has developed a diverse portfolio spanning residential, commercial, hospitality, and SEZ projects. The company has completed over 190 projects and built more than 30,000 homes across Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru. That footprint now covers 200-plus projects across nine cities and seven countries, accounting for 20 million square feet of built area. When a builder of that scale stakes a position in a locality like Rahatani, the choice tends to follow observable patterns in employment, infrastructure maturity, and buyer demographics — not speculation.
Over more than 35 years, Paranjape Schemes has assembled a portfolio spanning residential communities, commercial developments, townships, hospitality assets, educational institutions, senior-living campuses, and SEZs. The western Pune corridor has been central to that expansion. Landmark projects in this corridor include Blue Ridge Township at Hinjewadi, Broadway at Wakad, and The Groves at Hinjewadi. In 2007 the company launched Blue Ridge — an integrated township of 138 acres at Hinjewadi, alongside 3.5 million square feet of Special Economic Zone. Richmond Park in Rahatani extends that western-Pune logic deeper into the residential belt that serves Hinjewadi's workforce.
Richmond Park is located in Rambagh Colony, Rahatani, and offers 2 and 3 BHK homes with carpet areas ranging from 486 sq ft to 648 sq ft. Built-up unit sizes are available from 826 sq ft to 2,085 sq ft. Prices start from ₹66.08 lakh, placing Richmond Park in the mid-segment tier that defines the bulk of Rahatani's demand.
The project sits conveniently close to Kalewadi Main Road, Wakad Road, and the Pune Bypass, and carries RERA registration number P52100001358. Amenities include a swimming pool, clubhouse, gymnasium, landscaped gardens, and car parking. The apartments are designed for ample natural light and ventilation, with layouts aimed at maximising usable space for families and individual buyers alike.
Government registration data shows four sales transactions recorded in Richmond Park between June 2025 and May 2026, at an average price of ₹10,400 per sq ft. The project's average asking price stands at approximately ₹11,200 per sq ft, compared to the Rahatani locality average of ₹11,800 per sq ft — positioning it as a rational entry point within the micro-market.
Rahatani is a residential suburb in West Pune, PIN code 411017, that borders Pimple Saudagar, Wakad, and Thergaon along the Pavana River. It accommodates a diverse population, with a significant portion being IT professionals working at the Rajiv Gandhi InfoTech Park in the neighbouring Hinjewadi area. That resident profile matches precisely the demographic Paranjape Schemes has served across its Blue Ridge, Broadway, and Azure projects in the same corridor.
Residents can reach Hinjewadi IT Park in approximately 15 minutes and Pune Airport in 45 minutes, using Kalewadi Main Road and NH-48. Key roads connecting Rahatani include Rahatni Road, Hedgewar Path, Kalewadi Road, and Park Royale Road, providing access to major workplaces in Hinjewadi, Talawade, Wakad, and the PCMC industrial belt.
Metro connectivity is served by the PCMC Metro Station on the Purple Line, with the upcoming Wakad Chowk Station on the Pink Line adding further reach. Pune Metro has also introduced a feeder bus service (Route No. 31) between PCMC Metro Station and Kalewadi Phata specifically to improve first- and last-mile connectivity for residents of Kalewadi, Rahatani, and Pimpri.
Paranjape Schemes has historically positioned its projects within localities where day-to-day life for families functions without friction — schools, hospitals, and daily retail within reach. Rahatani measures up on each count.
Apartment prices in Rahatani have appreciated 7.0% year-on-year, a rate that places the locality ahead of many surrounding micro-markets in the Pimpri-Chinchwad belt. Rahatani's average asking price has been rising quarter-on-quarter, with a current median of approximately ₹11,800 per sq ft across 29 marketplace listings.
Rahatani, though rapidly urbanising, retains open spaces and greenery, and is often considered by buyers seeking affordable housing with long-term capital value. Rental demand is also active: the average monthly rental range in Rahatani runs from ₹16,300 to ₹39,200, providing a meaningful yield base for investors who purchase in Paranjape Richmond Park.
The broader Pune market context reinforces the case. Residential prices across Pune increased by around 5% year-on-year in 2025, reaching a city-wide average of approximately ₹5,016 per sq ft. Infrastructure advancements such as the Pune Ring Road and Pune Metro expansion have further boosted demand in the western corridors. Rahatani sits in the overlap zone of both infrastructure vectors.
Buyers evaluating Richmond Park benefit from understanding what a Paranjape Schemes address has historically meant across Pune. At the NDTV Property Awards 2015 in Bangalore, Paranjape Schemes won the Best Township Project of India award for Blue Ridge. The company also launched Forest Trails — a 170-acre integrated township at Bhugaon described as the largest bungalow scheme in Pune, with over 450 bungalows.
Paranjape Schemes runs a post-possession platform called the Happiness Network — a community initiative that connects families across projects, aiming to turn neighbourhoods into cohesive communities rather than collections of individual units. For a buyer choosing Richmond Park in Rahatani, that institutional after-sales framework is part of the proposition, not an afterthought.
The founding duo — Chairman Shrikant Paranjape and Managing Director Shashank Paranjape — have built a customer base of over 15,000 families over nearly four decades of Pune development. Richmond Park is where that legacy meets one of the city's most active IT-residential corridors.