PARANJAPE BLUE RIDGE – NEW PREMIUM RESIDENTIAL TOWER — New Project Coming Up in Hinjewadi Phase 1, Pune
Premium Residential Tower Coming to Paranjape Blue Ridge Hinjewadi
Paranjape Schemes has launched The Promenade Residences, a 32-storey premium residential development within its 150-acre Blue Ridge integrated township in Hinjewadi Phase 1, Pune, comprising spacious residences with river-facing views.
Development and Investment
Paranjape Schemes announced a strategic investment partnership with Nisus Finance, through which the Real Estate Special Opportunities Fund-I will invest ₹90 crore in Realnet Ventures Private Limited towards the development of a premium residential tower at Blue Ridge township. Blue Ridge has evolved into one of Pune's most established mixed-use townships, with 33 residential towers delivered to more than 6,000 families, three operational SEZs employing over 35,000 IT professionals.
Location and Connectivity
Located close to Pune's major IT corridor, the development aims to cater to homebuyers seeking larger homes within an established township, with residents having access to amenities including a golf course, sports facilities, retail spaces and community infrastructure, while benefiting from improved regional connectivity and proximity to employment hubs.
The area's transformation began with the establishment of Rajiv Gandhi Infotech Park, which now hosts over 600 companies employing more than 150,000 professionals, creating sustained demand for quality residential properties and driving consistent rental yields and capital appreciation.
Paranjape Schemes Heritage
Paranjape Schemes (Construction) Ltd., established in 1989 in Pune, is one of India's leading real estate developers with over 35 years of legacy, having delivered 200+ residential and commercial projects across nine cities including Pune, Mumbai, Bengaluru, and Vadodara, spanning over 20 million sq. ft. of development and serving more than 75,000 residents.
The company is widely recognised for pioneering large-scale integrated townships such as Blue Ridge and Forest Trails master-planned environments that seamlessly integrate housing, social infrastructure, open spaces, recreational amenities, retail, and community facilities.
Market Context
Located in Pune's thriving IT corridor, Hinjawadi continues to witness sustained demand from homebuyers driven by strong employment hubs, improving infrastructure, and increasing preference for integrated township living, with the demand for larger homes and lifestyle-led residential communities further strengthening the appeal of developments such as Blue Ridge.