Godrej Properties Buys 14 Acre Pune Land for Housing Project with Rs. 4,200 Crore Turnover

Godrej Properties plans to develop a group housing project on the site, with a possible developable area of approximately 3.7 million sq ft

Godrej Properties announced on June 2, that it has purchased a 14-acre land parcel in the Kharadi-Wagholi region of Pune. The company plans to use the land site for a group housing project, with a possible developable area of approximately 3.7 million square feet and potential revenue of Rs. 4,200 crore.

➤ Godrej Properties acquires 14-acre land in Kharadi-Wagholi, Pune for a Rs. 4,200 crore group housing project.

➤ New Godrej residential project in Pune to span 3.7 million sq ft near IT and business hubs.

➤ Kharadi-Wagholi emerges as Pune’s fastest-growing real estate micro-market with Godrej’s strategic entry.

As per the company, the land site is strategically positioned next to Kharadi, Pune, which offers commercial hubs nearby, as well as access to schools, hospitals, malls, restaurants, and premium hotels while being close to Chhatrapati Sambhaji Maharaj International Airport.

The company stated that Kharadi-Wagholi micro market has developed as one of Pune's high-demand residential areas due to proximity to major IT and business hubs, improvement of infrastructure, and increasing social amenities in the region. And, because of demand from a growing professional workforce, the micro-market has transitioned rapidly and has developed into one of the high-growth residential markets of Pune and a key driver of expansion in Pune real estate market, stated the Company.

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 “Kharadi, Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro market. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build a high-quality development that creates long-term value for its residents,” said Gaurav Pandey, MD and CEO, Godrej Properties.