Pune Porsche case: Real estate business of teen’s family has two projects under construction

Pune Porsche case: Real estate business of teen’s family has two projects under construction

Regulatory declarations made by real estate developer Vishal Agarwal, father of 17-year-old Vedant Agarwal who is accused of driving the vehicle that rammed into a bike on May 19 killing two people, reveal that the realtor has two ongoing real estate projects in Pune.

Pune Porsche case: Real estate business of teen’s family has two projects under construction
Regulatory declarations made by real estate developer Vishal Agarwal, father of 17-year-old Vedant Agarwal who is accused of driving the vehicle that rammed into a bike on May 19 killing two people, reveal that the realtor has two ongoing real estate projects in Pune. (PTI)

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Vishal Agarwal is the owner of Bramha Realty and Infrastructure Private Limited, the company which he floated after separating from his family business BramhaCorp.

As the investigation into the Pune Porsche car crash unpacks newer details with each passing day, the case has cast a shadow on the two real estate projects. The two projects being executed by Bramha Realty include a residential project in Dhanori area and a commercial project in Pimpri near Pune, according to the declarations made by the Agarwal family with the Maharashtra Real Estate Regulatory Authority (MahaRERA).

The two projects are registered under the name of Vishal Agarwal, Shivani Agarwal and Surendra Agarwal who are father, mother and grandfather of the minor who allegedly rammed his Porsche into two techies in their 20s – killing them on the spot on May 19.

The MahaRERA project completion date for the residential project is April 1, 2026 and for the commercial project is December 31, 2027.

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Details of under construction projects executed by the company in Pune

According to the MahaRERA declarations made by the Agarwal family, a residential project named Bramha Skycity Phase-3 with two buildings of 14 floors each is currently under construction.

The two buildings have a total of 92 units comprising 2 and 3 BHK apartments of which more than 50 units have been booked, as per information disclosed to MahaRERA by Bramha Multicon Pvt Ltd.

Another commercial project named Bramha Sky Uzuri Phase 2 is being executed by Bramha Leisures Pvt Ltd. The project is located in Pimpri near Pune and comprises 315 commercial units of which the company has got bookings for around 96 units, according to the MahaRERA declarations submitted by the firm as of December 2023.

Almost half of the construction work is complete, according to the project status details posted by the company on the MahaRERA website.

What happens to homebuyers now?

Pune police have arrested the teen’s father and grandfather of the minor involved in the Pune Porsche accident for allegedly trying to stall the investigation. The juvenile son of the Pune builder, Vishal Agarwal, allegedly drank alcohol at a restaurant and a club before driving the car at high speed, which crashed into a motorbike in the wee hours of May 19, killing two IT professionals, police had said.

Local developers from Pune told HT Digital that the project operations may get affected for a while due to ongoing legal cases, but on paper even the mother of the juvenile accused in the accident is a director on the board of companies executing the real estate projects.

Meanwhile, an email query sent to Bramha Group and their lawyer handling the legal cases in relation to the Pune Porsche car accident, went unanswered.

Agarwal’s family is a prominent real estate developer in Pune

Agarwals are a prominent real estate developer in Pune and have been running the business under the banner of Bramha in Pune since the last four decades.

BrahmaCorp was set up 40 years ago by Bramhadutt Agrawal. According to the company website, the firm is involved in residential, commercial and hospitality segments. The company is known to have introduced luxury hotels such as Le Meridien Mahabaleshwar and Sheraton Grand to the Pune market.

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The Agarwal family had separated post Covid-19 following which Vishal Agarwal is not associated with BramhaCorp and is operating under the banner of Bramha but with a different suffix, Pune real estate market consultants told HT Digital.