Mumbai-based real estate firm Dosti Realty has announced its entry into the Pune market with the unveiling of the Dosti Greenspaces project, encompassing over 1 million square feet of construction. The development will consist of 2, 3, and 4 BHK apartments, with the company aiming for a topline revenue of Rs 1,100 crore.
Dosti Realty plans to offer apartments ranging from 475 square feet to 1,395-plus square feet, targeting diverse housing needs. The project, located in Pune’s Hadapsar area, will be divided into two phases. The first phase will feature approximately 5.42 lakh square feet of RERA carpet area, while the second phase will include a mix of commercial and residential spaces spanning around 5.08 lakh square feet of RERA carpet area.
With an expected topline of Rs 550 crore from phase 1 and Rs 560 crore from phase 2, Dosti Realty has already invested around Rs. 155 crore in the project. Chairman and Managing Director of Dosti Realty, Deepak Goradia, revealed that the initial funding included Rs 70 crore from internal accruals and Rs 85 crore as construction finance from ICICI Bank.
The project is a joint venture between Dosti Realty and Indian Hume Pipe Co Ltd (IHP), with IHP being the landowner. It is being developed on a revenue-sharing basis. Dosti Realty stated that the selling rate for the project stands between Rs 9,500 and Rs 10,000 per square foot on the RERA carpet area.
Deepak Goradia expressed the company’s intention to expand beyond Mumbai and its surroundings, choosing Pune as their first nearby option. While launching the initial project, discussions are already underway for additional ventures.
Dosti Greenspaces is strategically situated in proximity to various amenities such as schools, colleges, hospitals, shopping malls, entertainment zones, commercial hubs, gardens, hotels, and restaurants. The project benefits from excellent connectivity to existing and upcoming infrastructure, making it an attractive investment opportunity for home-seekers and investors alike. Notably, the upcoming Pune Metro line three, passing through Solapur Road at Hadapsar, further enhances the project’s appeal.
Hadapsar, located near Magarpatta in Pune, enjoys convenient access to major highways like the Mumbai-Pune Expressway and Pune-Solapur Highway. The Pune Airport and Swargate train station are just a short drive away, and the area has witnessed significant development in recent years. Its proximity to commercial hubs like Magarpatta City and SP Infocity has made it a preferred destination for working professionals, as highlighted by Dosti Realty in their statement.
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