Nitin Sindhu VY | Mumbai
In a landmark collaboration, Hiranandani Communities, Krisala Developers, and Della Resorts & Adventures have announced a joint venture to develop a high-end integrated township in Pune’s Hinjewadi area. Spanning 105 acres, the project will be executed under Maharashtra’s Integrated Township Policy, aimed at promoting sustainable urban development.
Project Highlights
- Phase 1: 40-acre development featuring luxury villas, resorts, an 8-acre racecourse, and an international polo club.
- Investment: ₹500 crore for Phase 1 (total ₹2,000 crore for the entire township).
- Revenue Potential: ₹1,100 crore (Phase 1) and ₹7,000 crore (full project).
- Unique Model: First-of-its-kind CDDMO (Conceptualization, Design, Development, Marketing, and Operations) partnership in India’s real estate sector.
Strategic Partnership
Della Resorts & Adventures will oversee hospitality operations, earning 15% of project revenue as fees, 6% for operations, and 25% sweat equity. Jimmy Mistry, Chairman of Della, revealed plans to replicate this model in 10 projects across Pune, Nashik, Alibaug, Goa, Indore, and Chennai, targeting ₹20,000 crore in investments this fiscal year.
Government Backing
The project aligns with Maharashtra’s policy to decentralize urban growth, reducing pressure on metros while ensuring eco-friendly infrastructure.
Industry experts anticipate this venture will set a benchmark for luxury township developments in India.
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