Upcoming Project
Gera Proposes Two IT Towers, Hotel and Cultural Centre in Pune
A proposed commercial development in Pune, comprising two IT office towers, a hotel and a cultural centre, has been reported at an estimated value of Rs 988.2 crore. As of a report dated 14 September 2026, the project is at the conceptual and planning stage and has no RERA registration.
| Status | Upcoming. Conceptual/planning stage as of 14 September 2026 |
|---|---|
| Proposed components | Two IT office towers, one hotel, one cultural centre |
| Estimated project value | Rs 988.2 crore (report dated 14 September 2026) |
| Developer named in report | Gera Holdings Private Limited |
| Location | Pune, Maharashtra (no locality or land parcel named in the report) |
| RERA status | Not yet registered |
| Nearest operational metro access | Ramwadi, eastern end of the Pune Metro Aqua Line (as of October 2026) |
What has been reported
A report dated 14 September 2026 describes a proposed commercial development in Pune with a mixed-use business and hospitality focus. The plan includes two IT office towers, a hotel and a cultural centre. The estimated value is Rs 988.2 crore.
The project is at the conceptual and planning stage. No construction start has been reported, and no launch, booking or sales date has been announced. The IT office towers are the only commercial space meant for occupiers. The hotel and cultural centre are described as part of the destination and are not offered for sale.
Developer
The report names Gera Holdings Private Limited as the developer. Gera Developments Private Limited, a Pune-headquartered company founded in 1970 and privately held, runs the Gera group's residential and commercial projects in Pune and other cities. As of December 2024, the company stated that it had completed over 64 projects and more than 8.57 million sq ft of development across Pune, Goa, Bengaluru and California.
Gera's existing Kharadi projects include Gera Trinity Towers, which is listed as ready to move, and Gera Commerzone, an IT park that the developer lists as sold out. The developer describes Commerzone as inspired by biophilic design, with support services such as an ATM, a food court and parking.
Location and connectivity
The report gives only Pune, Maharashtra as the location. The sources do not name a sector, road or parcel for this project. Kharadi, on Pune's eastern IT corridor, is the nearest reference point because Gera's existing IT park is there.
- Metro: As of October 2026, Kharadi has no operational metro station within the locality. The nearest operational access is Ramwadi, the eastern end of the Aqua Line.
- Upcoming Aqua Line stations: Chandan Nagar, about 0.9 to 1.2 km from central Kharadi, and Kharadi Bypass, about 1.3 km away. These are part of the Ramwadi to Wagholi extension in Phase 2 plans and are not yet operational.
- Pune Metro Line 4: Cabinet-approved to run from Kharadi via Hadapsar to Khadakwasla. It is budgeted at about Rs 9,857 crore with the connected Line 4A spur, with a five-year construction window from approval. No completion year has been announced.
- Kharadi Shirur road (MSIDC): A 7.7 km double-decker stretch between Kharadi and Vitthalwadi, with the upper deck reserved for a future metro line. No completion year has been announced.
- Pune Ring Road (MSRDC): As of a September 2026 update, nine of twelve stages were about 45% complete and targeted for March 2028. The remaining three stages are targeted for November 2028.
Market context in Kharadi
SquareYards' May 2026 averages for Kharadi put apartments at ₹14,199 per sq ft, office spaces at ₹20,339 per sq ft and shops at ₹34,748 per sq ft. The average rental is ₹47 per sq ft, with a gross rental yield of 3.97%.
Office demand in the wider city remains active. In April 2026, Maersk Global Service Centres leased about 193,485 sq ft of office space in Pune at a starting rental of ₹75 per sq ft per month.
Status and what to watch
Three things would change the status of this project: a RERA registration, a launch or booking announcement, and an approved building plan. None of these has been reported as of 30 October 2026. Until one of them is reported, the project should be treated as a proposal at the planning stage.
Frequently asked questions
Is this project under construction?
No. As of a report dated 14 September 2026, the project is at the conceptual and planning stage, and no construction start has been reported.
Who is the developer?
A report dated 14 September 2026 names Gera Holdings Private Limited as the developer. Gera Developments Private Limited is the Pune company that runs the Gera group's other projects.
Is the project registered under RERA?
It is not yet registered under RERA.
What is the estimated value of the project?
The estimated project value is Rs 988.2 crore, as reported on 14 September 2026. This is a project cost estimate, not a sale price for units.
Which metro services are near the Kharadi area?
As of October 2026, the nearest operational access is Ramwadi, the eastern end of the Pune Metro Aqua Line. Chandan Nagar and Kharadi Bypass stations are planned on the Aqua Line extension and are not yet operational.