Mumbai and Pune-based real estate developer Supreme Universal has launched a new phase of a luxury villa project near Lonavala Hill station at Somatane in Pune. The company is offering 70 villas priced at around ₹2.65 crore each.
The company said demand for the villa project is majorly for second homes and for end use by IT professionals working in Pune’s Hinjewadi area.
“We are constructing a total of 225 villas in our project named Supreme Villagio of which 100 were launched last year and 70 villas are being launched now during the festive season. The topline of these 70 villas is around ₹200 crore and the entire 225 villas project topline is ₹500 crore,” said Vishal Jumani, Joint Managing Director of Supreme Universal.
“Several first-time homebuyers are purchasing villas for end-use as it is just 20 minutes away from Pune and located close to Hinjewadi that houses several IT companies. Buyers from Baner, Wakad, Hinjewadi are finding value in our villas based on their experience from the earlier launch of 100 villas. People from Mumbai and Pune are also investing in weekend homes. We are also receiving interest from investors from the US, Dubai and Singapore,” he said.
According to the company, the project named Supreme Villagio is spread around 16 acres and is close to the Gahunje Cricket Stadium near Mumbai Pune Expressway on the Pune side. The project is close to the upcoming 105 km eastern ring road that promises great connectivity and less traffic congestion in Talegaon and adjoining areas of Pune and Lonavala.
The MahaRERA completion deadline for the project is December 2027.
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“The project is strategically located and its proximity to Mumbai makes it an investment destination. The upcoming Navi Mumbai Airport will also be just 1.5 hours away,” the company said in a statement.
The company has completed over 70 projects in Mumbai and Pune real estate markets including luxury residential projects in the last over four decades. In Mumbai, the company has presence in areas like Bandra, Khar, Powai, Dadar, Lokhandwala, Andheri and Baner, Koregaon Park in Pune.
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Lonavala hill station getting congested?
According to real estate brokers from Pune and Mumbai, Lonavala as a destination for second homes is getting congested due to growth in tourism and owing to several buyers preferring to own villas in 10 to 30 km radius of Lonavala.
Lonavala, is a hill station located 100 km from Mumbai and 60 km from Pune and is one of the most frequented hill stations during the weekends, especially during the monsoon and winters.
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The per sq ft rate of villas in Lonavala can go up to ₹15,000 per sq ft and 3-4 BHK villas and serviced apartments are available in the range of ₹2 crore and ₹5 crore. The rental yield is around 5% to 10% depending on several factors, local brokers said.
