Paranjape Schemes (Construction) Ltd has been building in and around Pune since 1987, when brothers Shrikant and Shashank Paranjape started the company.
Mr. Shashank commenced the real estate business along with his elder brother Shrikant Paranjape in the year 1987, and the duo today are known for ethics and transparency in business. Over the decades that followed, the company's operating base has stayed in Pune, with its corporate office at PSC House on Dr. Ketkar Road, off Prabhat Road. Paranjape Schemes (Construction) Ltd., PSC House, Dr.Ketkar Road, Off Prabhat Road, Pune - 411004. Tathawade, on the Bhumkar Chowk stretch of the Pimpri-Chinchwad belt, is one of the localities where this Pune-headquartered developer has built repeatedly rather than just once, giving the area a cluster of Paranjape-built addresses rather than a single isolated project.
The developer's presence in Tathawade centres on the Azure development off Bhumkar Chowk Road, built out in phases over several RERA registrations. The project is located on Bhumkar Chowk Road, Tathawade, with the full address Paranjape Schemes Azure Aster, Bhumkar Chowk Road, Tathawade, Pune, Maharashtra 411033. The wings were registered in stages — Wings A, C, D, E and F under one registration, Wing B separately, and Wings G and H under a later filing, reflecting how the developer phased construction on this Tathawade parcel over multiple years rather than delivering it as one single launch.
Azure Aster G and H, the current phase, is an under-construction development of a premium residential project located in Pune West, Pune, offering 178 units spread over 6.5 acres of lush green surroundings. The master plan shows a development with eight distinct towers, arranged around a central amenity hub with a swimming pool and children's play area, and a sizable sports field adjacent to towers G and H. The project has been registered with the Maharashtra Real Estate Regulatory Authority on 24th January 2020, and unit sizes across the wider Azure portfolio have ranged from compact 1 BHK formats to larger 3 BHK homes, with carpet areas ranging from 1,020 sq.ft. to 1,577 sq.ft., depending on the unit type in the Aster phase specifically.
The Azure Aster wings sit directly on an established internal road network within the broader Azure complex, with the project well connected to Wakad Road, Tathawade, which is already a popular location with IT professionals, and quick access to Indira College of Commerce and Science — one of the several educational institutions that have grown up around this stretch of Tathawade.
Tathawade's rise as a residential address is tied almost entirely to its position next to Pune's largest employment cluster. Tathawade is approximately a 20–25-minute drive from Hinjewadi, which houses numerous business parks, industrial units, and technology zones, with the Rajiv Gandhi Infotech Park situated nearly 9 km away. Other estimates place the IT park closer still: Tathawade is just 5 km away from Hinjewadi, making it an ideal place for IT professionals to live in, and Hinjewadi IT Park is reachable in 10 minutes from parts of the locality. This is precisely the commute band that has historically driven housing demand for Paranjape's other Pune West addresses, including the company's much larger Blue Ridge township inside Hinjewadi itself.
Physical connectivity beyond the IT park is built around a small set of arterial roads and one metro line already under construction. The nearest metro station to Tathawade is Wakad chowk metro station, about 3.1 km away, while the locality sits on Mumbai Highway (NH-48), roughly 19 km from the city centre. Further out, Pune Metro Line 3, the elevated Hinjewadi–Shivajinagar corridor being built by PMRDA with Tata Group and Siemens, runs 23 km with 23 stations, with partial operations expected from April 2026 — a project that, once operational, is expected to shorten the commute for residents across Tathawade, Wakad and Hinjewadi alike.
Paranjape Schemes has built well beyond Tathawade over its history. The completed projects by the company are to the tune of 15.6 million sq.ft., with under-construction and upcoming projects covering around 20 million sq.ft. and a land bank of 24.6 million sq.ft. More recent company figures put the tally higher still: 200+ projects across 9+ cities and 7 countries, covering 20 million sq ft, built on 35 years of trust. Independent listing sources corroborate the multi-city footprint, noting the company has completed over 190 projects and built over 30,000 homes in Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru.
Two projects define the developer's reputation for scale in Pune West specifically. Blue Ridge, a 138-acre integrated township in neighbouring Hinjewadi, was built under Maharashtra's Township Act as a self-sufficient town with various amenities, with citizens occupying homes since 2010, and went on to win the NDTV Property Awards 2015 for Best Township Project of India. Forest Trails, a bungalow-led township at Bhugaon, similarly earned the Best Residential Project award at the CNBC Awaaz Real Estate Awards in 2015. Within the same corridor, the company is also the developer behind Athashri, its dedicated senior-living brand, which has grown to become India's largest senior citizen community, with more than 2,000 senior families and six Athashri developments in Pune alone — a reminder that the group's Tathawade projects sit within a much wider Pune West portfolio spanning family housing, townships and senior living.
Property values along the Azure address have moved up steadily over the past decade. Property prices in Bhumkar Chowk Road, Tathawade increased by 35.97% over the period 2016 to 2025, and more recent quarterly data for the Aster wings shows continued movement: average property prices for Azure Aster G and H moved from ₹10,250/sqft in Q3 2025 to ₹11,400/sqft by the end of Q4 2025, a compounding rise of over 11% across the two quarters. Locality-wide, the average asking price of properties in Tathawade is around ₹10,850/sq.ft., placing the Paranjape address broadly in line with the surrounding micro-market rather than at a premium or discount to it.
