PARANJAPE SCHEMES PUNE WEST — NEW TOWER (HINJEWADI PHASE 1) — New Project Coming Up in Hinjewadi Phase 1, Pune
New Residential Tower Arrives at Hinjewadi Phase 1
Paranjape Schemes Construction Limited announced a new residential project pipeline across Pune West, comprising around 1,400 homes with an estimated revenue potential of Rs 11.75 billion. The projects include two towers each at Sinhgad Road and Bhugaon, and one tower at Hinjewadi Phase 1. The announcement was made in late March 2026 as part of the developer's festive season launch slate.
Location and Strategic Position
Hinjewadi Phase 1 is strategically located near Pune's largest IT hub, making it an ideal residential choice for professionals working in the Hinjewadi IT corridor. The area boasts excellent connectivity via the Mumbai-Pune Expressway and major arterial roads like the Hinjewadi-Shivaji Chowk Road, with public transport options including PMPML buses and app-based cabs readily available.
Hinjewadi Phase 1 was the first sector to be developed under the Rajiv Gandhi Infotech Park initiative, making it the most mature and well-connected phase. The locality supports residential demand from the high concentration of technology employers and service sectors in the area.
About the Developer
Established in 1987 by Shrikant Paranjape and Shashank Paranjape, the company has developed a diverse portfolio of real estate projects, including residential, commercial, hospitality, and SEZ projects. Paranjape Schemes has completed over 190 projects and built over 30,000 homes in Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru.
The developer operates extensively across Pune West. Paranjape Schemes was established in 1989 and has delivered over 20 million sq. ft. across nine cities, serving more than 75,000 residents.
Infrastructure and Amenities
The locality offers a robust social infrastructure with various amenities including educational institutions like VIBGYOR High School and Symbiosis campuses, healthcare facilities such as Ruby Hall Clinic, numerous shopping centers, restaurants, and recreational spots like Butterfly Trampoline Park.
Hinjewadi Phase 1 continues to be a growth corridor with ongoing infrastructure development and commercial expansion, with the proposed Pune Metro extension and further development within the IT park expected to enhance connectivity and boost real estate value.
Market Context
The developments are aimed at meeting rising demand for well-connected and lifestyle-focused housing in Pune's western corridor, offering a mix of modern amenities and connectivity advantages for both end-users and investors.
One of the key reasons for the residential sector's rapid rise in Hinjewadi Phase 1 is the presence of the well-known Rajiv Gandhi Infotech Park. The location continues to attract professionals seeking proximity to employment in the IT sector while maintaining residential comfort in an established, maturing area.