Paranjape Schemes (Construction) Ltd, the Pune-headquartered developer founded in 1987 by brothers Shrikant and Shashank Paranjape, has extended its portfolio from the cities of Pune, Mumbai, Bengaluru, Kolhapur and Ratnagiri into the Konkan coastline with a project at Shekhadi, a village in Shrivardhan taluka of Raigad district. The company was incorporated on 18 December 1987 in Pune by brothers Shrikant Paranjape and Shashank Paranjape, and has grown over 38 years into a company with 200 or more completed projects spanning nine cities and more than 20 million square feet of built area. The company became a public limited entity in May 2005, and is led by Chairman Shrikant Paranjape, a qualified Chartered Accountant and active CREDAI Pune committee member since 1996, alongside Managing Director Shashank Paranjape.
In Shekhadi, that legacy shows up as Paranjape Villas Shrivega, a Shrivardhan-Diveagar Road address positioned as a coastal villa community rather than a city apartment tower. The project comprises 159 sea-facing vacation villas and bay vacation homes, with amenities such as an infinity swimming pool, barbeque bay, sea view cafe, kitchen garden and a wellness centre. It is set on 38.86 acres with unit sizes ranging from 544 sq ft to 847 sq ft, and possession is slated for January 2028. The project carries MahaRERA registration P52000050339.
Paranjape Schemes' move into Shekhadi is consistent with how the company has expanded historically: not by chasing every micro-market, but by entering a handful of regions and building depth there through townships, senior-living campuses and now coastal second-home communities. The company has built a particularly deep presence in Pune, where projects such as Blue Ridge in Hinjewadi, Forest Trails in Bhugaon, and Athashri senior-living communities in Baner and Bavdhan represent different chapters of its portfolio. Paranjape Schemes has consistently built communities rather than standalone buildings, with its signature approach tracing back to early integrated township models and evolving into large-format master-planned environments such as Blue Ridge and Forest Trails. Shrivega applies that same township instinct to a holiday-home format, an area where sea-view plots and villas are typically sold by smaller local players rather than an established, listed construction company.
The developer is also known nationally for its Athashri senior-living format. Paranjape Schemes was among the pioneers of a housing project designed specifically for senior citizens in the country, under the Athashri brand. That grounding in long-horizon, community-focused residential formats is relevant to a Konkan buyer weighing a project meant for retirement, weekend use or eventual full-time coastal living, rather than a quick city-centre flip.
Shekhadi is a village in Shrivardhan taluka of Raigad district, located about 70 km south of the district headquarters at Alibag and roughly 117 km from Mumbai. Diveagar, Chikhalap, Khargaon and Khujare are among the nearby villages. The locality sits within the same coastal belt as Shrivardhan and Harihareshwar. The distance between Shrivardhan and Harihareshwar is 18 km, and the two are often considered twin cities. Diveagar itself is quieter than both towns, which has drawn recent attention and begun its transformation into a popular tourist destination.
Access follows the Mumbai-Goa corridor and the coastal route through Alibag, Kolad and Mangaon. Diveagar's beach is accessible from the Mumbai-Goa highway via Kolad or Karnala. The government has separately committed to upgrading the older single-lane coastal road in this belt. A budget proposal cleared by the state cabinet will see the existing single-lane coastal road between Rewas in Raigad district and the Redi port near Maharashtra's border with Goa upgraded to a concrete two-lane marine highway. The coastal highway will be widened from 18-20 metres to 40 metres, with roughly 30 km of bridges across creeks and rivers to be built over five years. For a developer like Paranjape Schemes, whose buyers are frequently drawn from Pune and Mumbai, this planned upgrade is a meaningful long-term driver for a coastal holiday-home asset in Shekhadi.
The Shrivardhan-Diveagar belt has long functioned as a weekend and vacation-home destination for buyers from the two metros. Konkan has always had a pull on people from Pune and Mumbai, drawn by its beaches. Shrivardhan and Diveagar in Raigad district offer a raw Konkan charm and remain relatively under the radar, which makes the region attractive to buyers looking to enter before demand accelerates. Diveagar village, Aravi beach and the Shrivardhan coastline are seeing NA plots, homestay developments and organic farming estates, along with growing interest in eco-friendly stays and retirement homes.
Local social and tourism infrastructure is already established rather than nascent. Shrivardhan is mostly covered with mango and coconut trees and is home to many hotels and resorts, popular as a destination for weekend getaways and group picnics. Diveagar's own draw includes a well-known temple and a long stretch of coastline: the Suvarna Ganesh Mandir with its gold Ganesh idol is well known among tourists, and the beach facing the Arabian Sea is approximately four kilometres long. Nearby beaches, forts and temples referenced around Shrivega's own location listings, such as Velas, Harihareshwar and Murud-Janjira, extend the leisure catchment for a villa buyer beyond the immediate village.
For a prospective buyer, the relevant due-diligence points at Shrivega are the same as elsewhere in the Paranjape portfolio: verified MahaRERA registration, escrow-linked payment structures under RERA, and a stated possession timeline. The project's registration number is P52000050339, and the current possession date on record is January 2028. Because Shrivega is a second-home and villa format rather than a dense apartment tower, buyers should also weigh plot orientation, sea-facing units versus bay-facing homes, and the pace of Konkan infrastructure upgrades such as the Rewas-Redi coastal highway when assessing long-term access and value.
