Mumbai: Mumbai-based real estate developer Supreme Universal has launched a new phase of its luxury villa project, Supreme Villagio, near the popular hill station of Lonavala. This latest phase features 70 villas, each priced at approximately ₹2.65 crore, targeting a total revenue potential of ₹200 crore. The demand for these properties is largely driven by tech professionals based in Pune seeking second homes or end-use residences.
Vishal Jumani, Joint Managing Director of Supreme Universal, highlighted the project’s appeal, stating, “We are constructing a total of 225 villas in our project, of which 100 were launched last year, and we are excited to introduce the remaining 70 during this festive season. The proximity to Pune, particularly to the Hinjewadi IT hub, makes it a lucrative option for first-time homebuyers and investors alike.”
The project, spanning approximately 16 acres, is strategically located near Gahunje Cricket Stadium, close to the Pune-Mumbai Expressway. This prime location offers excellent connectivity, particularly with the upcoming 105 km eastern ring road set to alleviate traffic congestion in Talegaon and surrounding areas. The MahaRERA completion deadline for this ambitious project is December 2027.
Jumani noted a growing interest from various buyers, stating, “Several first-time homebuyers are purchasing villas for end-use, given the location’s accessibility. We have also seen significant interest from investors based in the US, Dubai, and Singapore who are looking for weekend homes.” He added that buyers from areas like Baner, Wakad, and Hinjewadi are particularly drawn to the project based on positive experiences from the earlier launch.
While Lonavala remains a popular destination for second homes, real estate brokers indicate that the area is becoming congested due to increased tourism. Buyers are now looking for properties within a 10 to 30 km radius of Lonavala to escape the growing crowds. The per square foot rate for villas in Lonavala can reach up to ₹15,000, with 3-4 BHK villas and serviced apartments priced between ₹2 crore and ₹5 crore. Local brokers report a rental yield ranging from 5% to 10%, depending on various market factors.
In conclusion, the launch of Supreme Villagio reflects the ongoing demand for luxury properties in the Pune-Lonavala corridor, driven by its strategic location and the burgeoning tech industry in Pune. As Supreme Universal continues to develop its presence in the luxury real estate market, the company aims to meet the needs of discerning buyers seeking both investment opportunities and serene retreats.
(Sumit Singh, Web Team at C6N)
