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Godrej Properties Ltd has expanded its presence in Pune by acquiring a 14-acre land parcel in the Kharadi-Wagholi region for a premium residential project. This development is expected to generate INR 4,200 crore in revenue and will offer around 3.7 million square feet of developable area. According to the company's regulatory filing earlier this week, the project will focus on upscale group housing. The move aligns with Godrej Properties' broader strategy to grow its footprint across key micro-markets, with recent forays into new cities including Hyderabad.
Real estate major Godrej Properties Ltd has strengthened its presence in Pune by acquiring a 14-acre land parcel in the Kharadi-Wagholi locality. The company confirmed the acquisition through a regulatory filing earlier this week, revealing that the site will be used to launch a premium residential development. Advertisement
The proposed project is expected to offer a developable area of approximately 3.7 million square feet, with a projected revenue potential of around INR 4,200 crore. The development will primarily focus on high-end group housing, catering to the rising demand for luxury residential spaces in this rapidly growing micro-market.
Gaurav Pandey, Managing Director and CEO of Godrej Properties, noted that the Kharadi-Wagholi corridor has become one of Pune's most desirable residential destinations. He expressed the company's enthusiasm about entering this market and remarked that the project fits into their broader objective of expanding their presence across vital micro-markets in India. Pandey added that the firm intends to create a high-quality development that delivers lasting value for its residents.
Godrej Properties, headquartered in Mumbai, is among India's top-tier real estate developers with a strong portfolio in key urban centres such as the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, and Pune. In addition to its ongoing operations, the firm recently made its entry into the Hyderabad market, signalling its intent to continue broadening its national footprint.
By targeting sought-after locales and delivering large-scale, quality housing, Godrej Properties is aiming to cater to both lifestyle aspirations and investment interests, reinforcing its brand as a trusted player in India's evolving real estate landscape.
Source - PTI
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