Paranjape Schemes Construction Limited has been one of the more consequential builders in west Pune's residential story. Established in 1989 in Pune, the company has delivered over 200 residential and commercial projects across nine cities — including Pune, Mumbai, Bengaluru, and Vadodara — spanning more than 20 million sq ft and serving more than 75,000 residents. The company is also among the pioneers of senior-citizen housing in India, under the Athashri brand. That dual focus — mainstream residential and age-specific living — shapes how Paranjape approaches community design at every project it builds.
The developer's west Pune footprint is substantial and extends well beyond any single site. Blue Ridge, the developer's flagship integrated township in Hinjewadi Phase 1, now spans 150 acres, with 33 residential towers delivered to more than 6,000 families and three operational SEZs employing over 35,000 IT professionals. Residents have been occupying homes at Blue Ridge since 2010, and the township has continued to develop with newer mid- and high-rise towers. Closer to Wakad, Paranjape has built and delivered Trident Towers — a 9.61-acre, 799-unit development on Bhumkar Wasti Road, Wakad, spread across six 22-floor towers. Commercial inventory in Wakad — shops and offices — also sits in the company's portfolio, making Paranjape one of the few developers with both residential and commercial stakes in this particular node of Pimpri-Chinchwad.
Paranjape Broadway in Wakad had already generated a strong response in its previous phase. That prior absorption is the direct context for the current Broadway offering at Shankar Kalat Nagar.
Paranjape Broadway is set on a 3.75-acre land parcel and will comprise five towers, each rising to 2 podiums and 20 floors. The project offers 2 BHK, 3 BHK, and 4 BHK premium residences — with 2 BHK units at 857 sq ft carpet area, 3 BHK units ranging from 1,222 to 1,280 sq ft, and 4 BHK units ranging from 1,750 to 2,285 sq ft. Each floor plan is organised with four flats, three lifts, and two staircases per floor. The address is Paranjape Broadway, Shankar Kalat Nagar, Wakad, Pimpri-Chinchwad, Maharashtra, 411057.
The specification sheet reflects the builder's positioning in the mid-to-premium band. Internal finishes include an earthquake-resistant structure, designer vitrified flooring, wooden flooring for the master bedroom, a parallel granite kitchen platform with a stainless steel sink, and hot-and-cold mixing units with quality sanitary fittings. Electrical provisions include concealed fire-resistant copper wiring throughout each flat and air-conditioning point provisions for the living room and master bedroom.
On the amenities side, external facilities include an open lawn area, festival court, outdoor performance area, clubhouse, and dedicated space for yoga, among more than 20 listed features. Car parking is available across ground and podium levels. Broadway's RERA registration number is P52100016356.
Shankar Kalat Nagar is not a peripheral location that requires explanation — it sits inside an already-established residential belt. It is a mid-segment locality in the western part of Pune, adjoining Wakad, Shedge Vasti, and Bhausaheb Kalate Nagar. The Pune IT corridor — covering Wakad and Hinjewadi — is within roughly one kilometre, and the locality sits along NH-48, which also links commercial hubs such as Baner and Pashan.
The Broadway site specifically sits near Mahatma Phule Road, placing it close to the area's social and transit infrastructure. Dange Chowk is 1.5 km away, Hinjewadi Road is 2.6 km away, and D-Mart is 3.2 km away. Wakad lies near the Mumbai-Pune Expressway and is surrounded by Hinjewadi, Baner, Balewadi, and Pimple Saudagar. For IT professionals commuting to Rajiv Gandhi Infotech Park, this is one of the shortest daily distances available without entering Hinjewadi itself.
Public transit is improving alongside road access. The nearest metro station to Wakad is Wakad Chowk metro station, approximately 0.9 km away. Chaphekar Chowk Bus Stand and Pimpri Railway Station are other nearby commute options. Akurdi Railway Station is within 9 km, and Pune International Airport is 22 km via the Aundh-Wakad Road.
The social infrastructure around Broadway is already in place rather than promised for future phases. Nearby institutions in the Shankar Kalat Nagar neighbourhood include Orion Hospital, Polaris Healthcare, Euro School, ICICI Bank, PMC Bank, and PCMC Garden. Mount Litera Zee School is about 1.6 km away, EuroKids School Wakad is roughly 1.1 km away, and Akshara International School is 3.3 km away. For retail and leisure, Big Bazaar, E-Square Xion, and INOX are among the shopping and recreational destinations accessible from the locality. Phoenix Mall of the Millennium — one of Pune's larger retail anchors — sits within a short drive.
Pricing at Broadway spans a range that reflects the project's 2-to-4-BHK configuration. Published market-level pricing for Broadway has been cited between Rs 1 crore and Rs 2.35 crore, positioning it clearly at the upper end of the sub-locality's active inventory.
The surrounding market context supports that bracket. Shankar Kalat Nagar currently sees average apartment rates of approximately Rs 9,450 per sq ft, with a year-on-year change of around 9.9%. Year-on-year apartment price appreciation for the sub-locality has been tracked at 11.6% by some aggregators — one of the steadier appreciation curves in west Pune's mid-premium segment. Across Wakad at large, the average weighted apartment price is around Rs 9,500 per sq ft, with the broader locality seeing roughly 8.6% movement in the last one year.
High rental demand from IT workers employed at Wakad and Hinjewadi is a consistent feature of the sub-locality, which matters for buyers who weigh rental yield alongside capital appreciation. Average monthly rents in Shankar Kalat Nagar range from approximately Rs 19,700 to Rs 1,24,900, with the premium rental segment — above Rs 29,000 per month — accounting for more than 190 active listings.
For buyers evaluating Broadway as a project-under-construction purchase, the developer's delivery history in the same geography carries weight. Paranjape Schemes has handed over 1,000 units across Blue Ridge township, Forest Trails Township, and Wakad, covering a total carpet area of 4,50,000 sq ft across those three projects. Over the decades, the company has built a reputation for timely delivery, quality construction, and enduring customer relationships.
Paranjape Schemes was established in 1989 by Mr Shrikant Paranjape and his brother Mr Shashank Paranjape, who serves as Managing Director with oversight of marketing, design, and construction. The company is recognised for pioneering large-scale integrated townships such as Blue Ridge and Forest Trails — master-planned environments that integrate housing, social infrastructure, open spaces, recreational amenities, retail, and community facilities. Broadway at Shankar Kalat Nagar is a different product format — a gated high-rise community rather than a township — but it draws on the same construction systems and delivery infrastructure that the developer has applied across west Pune for over three decades.
Paranjape Broadway is developed by Paranjape Schemes, with their developer footprint extending across Bengaluru Rural, Bengaluru Urban, Mumbai City, Mumbai Suburban, and Pune. For a Wakad buyer, that geographic spread translates into an established supply chain and contractor network — factors that tend to reflect in construction finish and schedule adherence at the project level.
