Shriram Properties Launches ₹700 Crore Pune Project Under Joint Development Deal

Shriram Properties Limited is expanding its footprint in Pune with a new residential project in Hinjewadi, developed under a Joint Development Agreement (JDA) with the landowner. SNG & Partners provided comprehensive legal advisory for this transaction, including drafting the JDA, title verification, land due diligence, and ensuring RERA compliance. The project spans nearly 0.7 million square feet and is anticipated to generate approximately ₹700 crore in revenue. It will feature premium residential units complemented by retail and commercial spaces, catering to a high-demand market. This development signifies Shriram Properties' strategic growth in key markets and is their second significant venture in Pune. Impact: This news is positive for Shriram Properties Limited as it expands its project pipeline and revenue generation capacity in a strategic growth area. It signals confidence in the Pune real estate market and the company's ability to secure development opportunities. The successful execution of this project could lead to increased investor confidence and potentially higher stock valuations. Rating: 7/10 Heading: Difficult Terms and Their Meanings Joint Development Agreement (JDA): An agreement where a landowner collaborates with a developer to construct a project on the land. The landowner typically contributes land, and the developer manages construction and sales, with profits shared. Title Verification: The process of examining legal documents to confirm the ownership and legitimacy of property rights. Land Due Diligence: A thorough investigation of a property's legal, financial, and environmental status before a transaction. RERA Compliance: Adhering to the regulations set by the Real Estate (Regulation and Development) Act, 2016, which aims to protect home buyers and promote transparency in the real estate sector.