Tribeca Developers has announced a new mixed-use real estate project in Pune, covering 8 lakh sq ft. The development, located in Lullanagar near New Command Hospital at Pune Cantonment, includes residential and retail spaces with an estimated revenue potential of over ₹1,000 crore. The company is partnering with Serianee Corrp, which comprises Siddhivinayak Groups, Vision Skylish Group (VSG), and Kalash Properties. The land for the project is owned by the Manikchand Group and Siddhivinayak Groups, under the leadership of Rajesh Naupatlal Sakla. The plan includes two residential towers along with retail spaces, addressing the demand for integrated developments in the city.
Kalpesh Mehta, founder of Tribeca Developers, noted Pune’s significance as a growing real estate market and emphasized the increasing need for housing. The project aims to align with the city’s evolving urban landscape and meet the expectations of modern homebuyers.
Tribeca Developers has been expanding its operations across India, recently securing six new real estate deals covering 8 million sq ft in Pune, Gurugram, Noida, Mumbai, Hyderabad, and Bengaluru. The total sales potential of these projects exceeds ₹15,000 crore. Currently, the company is developing over 6 million sq ft of branded residential projects valued at ₹6,000 crore, with another 4 million sq ft in the pipeline.
Rushabh Sakla of Siddhivinayak Groups stated that the collaboration with Tribeca Developers is focused on delivering a well-planned development. He highlighted Pune’s continued attractiveness for real estate investments and the role of integrated projects in shaping the city’s landscape.
According to data from the Maharashtra IGR (Inspector General of Registration), Pune’s real estate market has experienced steady growth. Property registrations increased by 25% in 2024, reaching 190,025 compared to 152,323 in 2023. Revenue from stamp duty collections rose by 33% to ₹7,098 crore. In December 2024, registrations saw an 18% year-on-year rise to 17,348, while revenue collections increased by 11% to ₹620 crore.
Pune remains a strong real estate market, with demand growing for both residential and commercial spaces. Developers are introducing projects catering to various segments, including premium, mid-income, and affordable housing. The mixed-use development model is gaining traction, as it integrates residential and commercial spaces, creating a self-sufficient urban environment.
Tribeca Developers’ new project follows this approach, combining residential and commercial units in a well-connected location. With Pune’s real estate sector expanding, developers are focusing on efficient land use while ensuring connectivity to key infrastructure and transportation networks. The city’s growth is further supported by infrastructure projects, business expansion, and a growing workforce, making it a preferred destination for homebuyers and investors.
Real estate experts anticipate continued strength in Pune’s market, driven by infrastructure improvements and new business hubs. The city’s demand for housing is supported by its IT sector, educational institutions, and commercial activities. Mixed-use developments are becoming more prominent as they offer convenience by reducing travel time and integrating essential services. Tribeca Developers’ project in Lullanagar is expected to reflect this trend, offering a balanced urban living experience.
The partnership between Tribeca Developers and Serianee Corrp highlights the growing interest of real estate firms in Pune. As developers focus on optimizing urban spaces, collaborations like this contribute to the city’s real estate expansion. With sustained growth in property registrations and revenue, Pune remains a key destination for large-scale developments. Tribeca’s new project in Lullanagar is set to be a significant addition to the city’s evolving real estate sector.
