Tribeca Developers to Launch 8 Lakh Sq Ft Mixed-Use Project in Pune with ₹1,000 Crore Potential
Tribeca Developers has announced a new mixed-use real estate project in Pune, covering 8 lakh sq ft. The project is located in Lullanagar near New Command Hospital at Pune Cantonment and includes residential and retail spaces with an estimated revenue potential of over ₹1,000 crore. The company has partnered with Serianee Corrp, a conglomerate that includes Siddhivinayak Groups, Vision Skylish Group (VSG), and Kalash Properties, for this development. The land is owned by the Manikchand Group and Siddhivinayak Groups, a venture led by Rajesh Naupatlal Sakla. The project will feature two residential towers alongside retail spaces, catering to the increasing demand for integrated developments in the city.
Kalpesh Mehta, founder of Tribeca Developers, emphasized Pune’s role as a key real estate market and highlighted the growing need for housing. He stated that the company aims to develop a project that aligns with the city’s evolving urban character and meets the expectations of modern homebuyers.
Tribeca Developers has been actively expanding its presence in India and has recently secured six new real estate deals covering 8 million sq ft across Pune, Gurugram, Noida, Mumbai, Hyderabad, and Bengaluru. These projects have an estimated total sales potential exceeding ₹15,000 crore. At present, the company is developing over 6 million sq ft of branded residential projects in India, valued at ₹6,000 crore, with an additional 4 million sq ft in the pipeline.
Rushabh Sakla of Siddhivinayak Groups stated that their collaboration with Tribeca Developers aims to create a high-quality development on this land parcel, leveraging their collective experience in delivering over 28,000 homes. He noted that Pune continues to attract real estate investments, and well-planned projects contribute to the city’s transformation by offering a blend of residential and commercial spaces.
According to data from the Maharashtra Maharashtra IGR (Inspector General of Registration), Pune’s real estate sector has experienced substantial growth, with property registrations rising by 25% in 2024, reaching 190,025 compared to 152,323 in 2023. Revenue from stamp duty collections increased by 33% to ₹7,098 crore. In December 2024 alone, property registrations grew by 18% year-on-year to 17,348, while revenue collections saw an 11% rise to ₹620 crore.
The city remains one of India’s strongest real estate markets, with demand for both residential and commercial spaces consistently increasing. Developers are launching projects that cater to various segments, ranging from premium housing to mid-income and affordable categories. The mixed-use development model is gaining popularity as it provides a comprehensive urban experience by integrating residential, retail, and commercial spaces within the same project.
Tribeca Developers' upcoming project is expected to align with this shift by offering a combination of residential and commercial units within a well-connected location. With the continuous expansion of Pune’s real estate sector, developers are focusing on maximizing land use efficiency while ensuring accessibility to critical infrastructure and transportation networks. The city's real estate growth is further supported by infrastructure improvements, growing business opportunities, and an expanding workforce, making it an attractive destination for homebuyers and investors alike.
Real estate experts predict that Pune’s market will continue to strengthen due to the expansion of infrastructure projects, which improve connectivity and create new business hubs. The city’s strong demand for housing is driven by its thriving IT sector, presence of renowned educational institutions, and increasing commercial activities. Mixed-use developments are gaining traction as they offer a convenient lifestyle by reducing travel time and providing essential services within a single development. Tribeca Developers' project in Lullanagar is expected to reflect this trend, ensuring that residents and businesses benefit from integrated planning.
The collaboration between Tribeca Developers and Serianee Corrp highlights the ongoing interest of real estate firms in Pune’s rapidly growing property market. As developers continue to invest in optimizing urban spaces, partnerships like these are expected to contribute to the expansion of high-quality real estate projects in the city. With sustained growth in property registrations and revenue collections, Pune remains a key destination for large-scale developments. Real estate firms are making significant investments in the city, and Tribeca’s new mixed-use project in Lullanagar is poised to be a notable addition to Pune’s expanding real estate sector.
