Godrej Properties Acquires 16 Acre Land in Pune for Rs 3100 Cr Project

Godrej Properties has announced the acquisition of a 16-acre land parcel in Upper Kharadi, Pune, for a mixed-use development project valued at ₹3,100 crore. This acquisition marks the company’s second land deal in the Kharadi-Wagholi micro-market this month, bringing the combined estimated revenue potential from both Pune developments to ₹7,300 crore.

The planned development will comprise premium group housing and high-street retail, with a total developable area of 2.5 million square feet. Gaurav Pandey, Managing Director and CEO of Godrej Properties, stated, “Upper Kharadi has rapidly emerged as one of Pune’s most promising real estate corridors, driven by its evolving infrastructure and strong connectivity.” The acquisition is expected to bolster Godrej Properties’ presence in Pune’s real estate market and contribute to the region’s economic growth. The company’s shares rose by 2% to ₹2,477.4 on the Bombay Stock Exchange following the announcement, reflecting investor optimism.

Godrej Properties, part of the Godrej Group, is one of India’s leading listed real estate developers with a presence across major cities, including Mumbai, Delhi-NCR, Bengaluru, and Pune. The company’s commitment to sustainable and eco-friendly development aligns with the growing demand for responsible urban growth. As the project progresses, it is anticipated to create significant employment opportunities and enhance the overall infrastructure of the Upper Kharadi area, benefiting both residents and businesses.

Godrej Properties Acquires 16 Acre Land in Pune for Rs 3100 Cr Project