Hiranandani, Krisala, Della Resorts ink development pact for 40 acres in Pune's Hinjewadi
Hiranandani Communities and Krisala Developers have partnered with Della Resorts to develop a 40-acre township in Pune's Hinjewadi, part of a larger 105-acre project under Maharashtra's integrated township policy. The project, featuring luxury villas and a racecourse, anticipates a revenue potential of Rs 1,100 crore. Della Resorts will utilize a CDDMO model, receiving fees and equity in the hospitality business.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Realty developer Hiranandani Communities and Krisala Developers ' joint venture has entered a pact with Della Resorts & Adventures to develop a mega township spread over 40-acre land parcel in Pune's Hinjewadi area.This is part of a larger development spread over 105 acres for which Hiranandani has inked a pact with Krisala Developers to be developed under the Maharashtra government's new integrated township policy.Maharashtra's integrated township policy is a framework that encourages large-scale planned townships to be developed by private players to reduce pressure on major cities while promoting sustainable urbanization The project, which will see development of luxury villas , resorts, an 8-acre racecourse and an international poli club, is expected to have a revenue potential of Rs 1,100 crore on the back of Rs 500 crore investment. The entire 105-acre township will entail an investment of Rs 2,000 crore and have a revenue potential of around Rs 7,000 crore.The development agreement between Della Resorts & Adventures and Hiranandani Group-Krisala Developers will be based on Conceptualisation, Design, Development, Marketing and Operations (CDDMO) model. This is for the first time a hospitality-led model like this being used in India.As per the CDDMO model, Della Resorts & Adventures will get a 15% of the project's topline as fees, 6% for hospitality operations in addition to 25% sweat equity in the hospitality business, Jimmy Mistry, founder & chairman, Della Resorts and Adventure, told ET.'We have already tied up with five developers under this new CDDMO model and in the process of forming an alliance with five more. In total, we are looking at a total 10 such projects worth Rs 20,000 crore in Pune, Nashik, Alibaug, Goa, Indore and Chennai in the current financial year itself,' Mistry said.According to Niranjan Hiranandani, chairman, Hiranandani Communities, the company will be working a lot more in collaborations with local developers and innovators going forward as it plans to foray into different segments including redevelopment and even slum rehabilitation.'As the preferences of modern homebuyers continue to evolve, property developers are being nudged to collaborate with allied industries to create innovative ecosystems tailored to meet the needs of aspirational Indian homeowners,' Hiranandani said.The Indian real estate sector is witnessing a rising trend of joint development agreements as developers and landowners have been seeking capital-efficient growth strategies amid evolving market dynamics.With high land acquisition costs and issues related to clear titles, developers are increasingly partnering with landowners to unlock land value without upfront purchases, while landowners benefit from profit-sharing or revenue-based models instead of outright sales.The surge in joint development agreements is particularly visible in key property markets including Mumbai, Pune, Bengaluru and Delhi-NCR, where high costs make such collaborations financially viable. Ends
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
31 minutes ago
- Time of India
10 million tourists picked this Asian paradise over Thailand in 2025
Malaysia received 10.1 million foreign arrivals in the first quarter of this year, making it the most visited country in Southeast Asia, thanks to its visa relaxation policies. According to a report by VN Express, Thailand , which held the champion title for years, was second with 9.55 million, followed by Vietnam (six million) and Singapore (4.31 million), according to official data. Malaysia recently announced the extension of visa exemption for Indian travelers until 2026. The exemption allows Indian nationals to visit Malaysia without a visa for up to 30 days. A similar exemption has been granted to Chinese nationals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: 1 simple trick to get all TV channels Techno Mag Learn More Undo ALSO READ: Malaysia extends visa exemption for Indian nationals (Join our ETNRI WhatsApp channel for all the latest updates) Malaysia is also becoming an increasingly popular study-abroad destination for international students, thanks to its highly ranked universities, affordable tuition fees and relatively low cost of living. Live Events Malaysia boasts eight universities ranked among the top 500 in the 2025 QS World University Rankings. Moreover, the country offers a highly affordable lifestyle compared to other leading study-abroad destinations. For example, Malaysia has been estimated to be two-thirds less expensive to live in than the US and half as expensive as Canada and Ireland. ALSO READ: This country with top universities and low tuition fees has become the new hotspot for international students In addition to this, annual tuition for an undergraduate degree is on average US$6,000, as per an ICEF Monitor report. In 2023, all of Malaysia's Top 10 markets were in Asia and Africa. India emerged as one of Malaysia's key source markets for international students, ranking fifth among the top contributors that year. Indian students submitted 1,900 applications, marking an 18% increase compared to 2022. This highlights the growing appeal of Malaysia as a study-abroad destination for Indian students. ALSO READ: Indians spoilt for choice as nations roll out easy visas As per the ICEF report, the Malaysian government has adopted a selective approach to post-study work policies for international students. In the previous year, students from 23 countries, including Australia, the US, the UK, Germany, Japan, Singapore, Saudi Arabia, the UAE, Switzerland, and Finland, became eligible for the 12-month Graduate Pass. These countries are not major sources of international students in Malaysia but were chosen to promote two-way internationalisation with nations hosting significant numbers of Malaysian students.
Time of India
32 minutes ago
- Time of India
RBI's 'bold' 50 bps cut to reduce interest rates, improve credit access: India Inc
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The RBI's decision to slash the benchmark rate by a "bold" 50 basis points will lead to lower interest rates and improved credit access for borrowers, India Inc said on Friday, asserting that the move will support economic growth amid global they opined that by reverting its stance to neutral from accommodative, the central bank has signalled that it may now pause to assess the full transmission of these cuts, before considering further easing of interest Reserve Bank of India (RBI) on Friday cut interest rates by 50 basis points (bps), the third consecutive reduction, to 5.5 per central bank has also unexpectedly reduced the cash reserve ratio (CRR) for banks by a steep 100 basis points, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the Vardhan Agarwal, President at FICCI, said, "FICCI welcomes RBI's bold and proactive move to slash the repo rate."This front-loaded rate cut sends a strong signal of the RBI's commitment to supporting growth, especially at a time when the Indian economy is navigating multiple headwinds -- from trade uncertainties and geopolitical tensions to financial market volatility," Agarwal Alexander Muthoot, MD of Muthoot Finance , said, "For NBFCs, this is an encouraging move as it creates a favourable environment by lowering borrowing costs and extending affordable credit to under-served communities." "The move, coupled with a lowered inflation outlook, is likely to support domestic consumption and stimulate credit demand in the coming quarters. Overall, we view this as a timely and positive intervention that can support a stronger credit cycle in FY26," Muthoot Banerjee, Partner and Leader - Economic Advisory at PwC India, said the policy rate easing, combined with the liquidity increase for banks when system liquidity is already comfortable, is likely to add a second engine to the consumption growth flight that is anticipated to be already in flight from the income tax cuts taking effect in FY26."With inflation under control, supporting growth is the main objective, especially considering the uncertainty in global trade. The RBI continues to peg FY26 growth at 6.5 per cent, but clearly sees a need to stimulate private demand and capital formation. This (liquidity) gives banks more headroom to transmit lower rates and improve credit flow - both to consumers and businesses," Vijay Kuppa, CEO of InCred Money, Goswami, CIO & MD - India Fixed Income at Franklin Templeton, said the RBI's bold move has surprised markets and underscores a clear pivot towards supporting growth amid subdued economic momentum and easing inflation."Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank , said, "The higher-than-expected repo rate cut comes along with a shift in the stance back to neutral. This clearly points towards future decisions being more data-dependent, given the significant global uncertainties."Gaura Sengupta - Chief Economist at IDFC FIRST Bank , said, "The front-loading of the rate cut action plus CRR cut indicates focus is on enhancing the transmission of monetary policy. The neutral stance indicates that the bar for further rate cut is higher but isn't completely off the table. In the next few policies, we expect the RBI to remain on pause".The RBI MPC decision will support India's growth amidst continued global volatilities, Hemant Jain, President at PHDCCI, the latest reduction, the RBI has cut interest rates by 100 basis points in 2025, starting with a quarter-point reduction in February - the first cut since May 2020 - and another similar-sized cut in rate cut comes as the Indian economy slowed to a four-year low of 6.5 per cent in the fiscal year that ended March. RBI projected the economy to grow by the same measure in the current financial year that started on April 1, as rising trade tensions following US President Donald Trump's tariff policies provide central bank lowered its inflation projection to 3.7 per cent for 2025-26 from 4 per cent earlier.
Time of India
33 minutes ago
- Time of India
RBI MPC meet: Central bank cuts CRR by 1%; to unlock Rs 2.5 lakh crore to bank funds by December
NEW DELHI: The Reserve Bank of India (RBI) on Friday announced a 1% cut in the Cash Reserve Ratio (CRR), releasing Rs 2.5 lakh crore into the banking system, in a major move to boost liquidity aimed at supporting lending to productive sectors of the economy. Tired of too many ads? go ad free now The CRR reduction will be implemented in four equal phases and will bring the reserve requirement down to 3% by November 29, 2025. This allows banks to maintain a lower level of 3% liquid cash reserve with the RBI, providing them additional funds for lending activities. The last time the RBI made such a significant CRR cut was on March 27, 2020, when it slashed the ratio by 1% and the repo rate by 75 basis points in response to the Covid-19 crisis. "The Reserve Bank remains committed to provide sufficient liquidity to the banking system. To further provide durable liquidity, it has been decided to reduce the cash reserve ratio (CRR) by 100 basis points (bps) to 3% of net demand and time liabilities (NDTL) in a staggered manner during the course of the year," RBI Governor Sanjay Malhotra said. The implementation will occur in four 25 bps installments, beginning September 6, October 4, November 1 and November 29, 2025, Malhotra continued, while announcing the bi-monthly MPC outcome. "The cut in CRR would release primary liquidity of about Rs 2.5 lakh crore to the banking system by December 2025. Besides providing durable liquidity, it will reduce the cost of funding of the banks, thereby helping in monetary policy transmission to the credit market," he added. Enhanced credit availability will support economic growth, which decreased to a four-year low of 6.5% in FY'25. "I would like to reiterate that we will continue to monitor the evolving liquidity and financial market conditions and proactively take further measures, as warranted," he said. Tired of too many ads? go ad free now The previous CRR reduction of 50 basis points to 4% occurred in December 2024's MPC announcement, implemented in two 25 basis point instalments effective from December 14, 2024 and December 28, 2024. This action released Rs 1.16 lakh crore into the banking system, easing liquidity constraints. Earlier on May 4, 2022, RBI raised the Cash Reserve Ratio (CRR) from 4% to 4.5% during an unscheduled meeting of the Monetary Policy Committee (MPC), with the change taking effect from May 21 that year. However, the RBI kept the Statutory Liquidity Ratio (SLR) unchanged at 18%. Under the SLR rule, banks must hold 18% of their total deposits or net demand and time liabilities (NDTL) in government securities. This requirement helps ensure banks have enough liquidity to meet withdrawal demands and maintain financial stability.
