Vibe Realty (VRPL), led by industry veteran Gopal Sarda, has announced a major foray into Pune’s real estate with the acquisition of a joint development project in NIBM locality. This marks the company’s first project in the city, and represents a significant milestone in its growth trajectory.

The new development spans eight acres and offers a saleable area of 1.03 million sq. ft. It will feature over 750 residential units, with an anticipated sales value exceeding Rs 650 crore.

The project is designed to offer premium lifestyle experiences with amenities including a sprawling 12,000+ sq. ft. clubhouse, a modern gymnasium, swimming pool, and lush landscaping. VRPL intends to launch this project in the latter half of the current financial year.

Further strengthening its portfolio, VRPL has also secured a fourth redevelopment project in May 2024 in Bangur Nagar, Goregaon West, Mumbai. This project, with a 4,000 sq. mtrs. plot and a development potential of approx. 3.5 lakh sq. ft., is expected to generate over Rs 290 crore in revenue. These additions bring VRPL’s total development pipeline to 2.7 million sq. ft. across strategic locations in Pune and Mumbai, including prior acquisitions in Khar West, Bandra East, Andheri East, and Goregaon West.

The projects collectively have an estimated gross development value (GDV) exceeding Rs 2,000 crore. Of this GDV, inventories worth Rs 1,100 crore are scheduled for launch within the next 90 days.