Godrej Properties Acquires 14-Acre Land in Pune for Rs 800 Crore to Expand Housing Projects
Godrej Properties has acquired a 14-acre land parcel in Kharadi-Wagholi, Pune, for approximately Rs 800 crore. The company plans to develop this land into a premium housing project with a revenue potential of Rs 4,200 crore. This strategic move enhances Godrej Properties' presence in Pune and aligns with its expansion goals in key micro-markets across India.
Real EstateGodrej PropertiesPuneHousing ProjectsLand AcquisitionReal Estate PuneJun 03, 2025
The 14-acre land parcel is located in Kharadi-Wagholi, one of the most sought-after destinations in Pune. The project will have a developable potential of 3.7 million square feet, with an estimated revenue potential of Rs 4,200 crore. This strategic move is in line with Godrej Properties' long-term vision to create high-quality developments that provide long-term value for residents.
Gaurav Pandey, MD & CEO of Godrej Properties, expressed his enthusiasm about the acquisition, stating, “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.”
In the last fiscal year, Godrej Properties has been actively acquiring land parcels across major cities to build housing projects. The company bought 14 land parcels in cities such as Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata, Ahmedabad, and Indore. These acquisitions have a combined revenue potential of about Rs 26,500 crore.
Pirojsha Godrej, the company's chairperson, highlighted the company's ambitious growth plans in an interview with PTI last month. “Last financial year, we added about Rs 26,500 crore worth of new projects, as against the guidance of Rs 20,000 crore. This fiscal, we are again giving guidance of Rs 20,000 crore. Quite likely, we will exceed this by a good margin,” she said.
Mumbai-based Godrej Properties is one of the leading real estate developers in the country. The company has a significant presence in MMR, Delhi-NCR, Bengaluru, and Pune. It has recently entered the Hyderabad property market, further diversifying its portfolio and expanding its reach across major urban centers in India.
The acquisition of the 14-acre land in Kharadi-Wagholi is a testament to Godrej Properties' commitment to delivering premium housing solutions and its strategic approach to market expansion. With a focus on quality and value, the company continues to strengthen its position in the Indian real estate market.
Frequently Asked Questions
What is the location of the newly acquired land by Godrej Properties?
The newly acquired land is located in Kharadi-Wagholi, Pune.
What is the estimated revenue potential of the new project in Kharadi-Wagholi?
The estimated revenue potential of the new project in Kharadi-Wagholi is Rs 4,200 crore.
How many land parcels did Godrej Properties acquire in the last fiscal year?
Godrej Properties acquired 14 land parcels in the last fiscal year.
What is the developable potential of the 14-acre land in Kharadi-Wagholi?
The developable potential of the 14-acre land in Kharadi-Wagholi is 3.7 million square feet.
What is Godrej Properties' strategic focus for market expansion?
Godrej Properties' strategic focus for market expansion is to strengthen its presence across key micro-markets in India, including MMR, Delhi-NCR, Bengaluru, Pune, and recently, Hyderabad.
Related News Articles
IHCL Expands Its Footprint in Maharashtra with Fifth Ginger Hotel in Thane
Indian Hotels Company (IHCL) has signed its fifth Ginger branded hotel in the Mumbai Metropolitan Region of Thane, Maharashtra, offering guests a perfect blend of work and leisure in vibrant, contemporary spaces.
Mumbai Braces for Heavy Rainfall as IMD Issues Orange Alert
The India Meteorological Department has issued an orange alert for extremely heavy rainfall in Mumbai and its suburbs, with residents advised to avoid unnecessary travel.
Major Realty Firms Witness Surge in Property Sales Worth Rs 35,000 Cr in Q1FY25
India's top real estate developers, including Godrej Properties and DLF, reported a significant increase in property sales in the first quarter of FY25, driven by strong demand for luxury housing.
KIADB to Issue Preliminary Notice for Property Acquisition
The Karnataka Industrial Areas Development Board (KIADB) has announced plans to issue preliminary notices for the acquisition of properties as part of its ongoing infrastructure and development projects. This move is aimed at ensuring smooth progress in t
FICCI-ANAROCK Report: Real Estate Dominates as Top Investment Choice in H1 2024
The Federation of Indian Chambers of Commerce and Industry (FICCI) and ANAROCK Property Consultants have released the 'Homebuyer Sentiment Survey - H1 2024' highlighting significant shifts in homebuyer preferences and investment trends in India’s real est
Mumbai's Real Estate Market Sees Unprecedented Surge, Says CREDAI-MHAI President
The Mumbai real estate market is experiencing an unprecedented surge, with high demand, increasing volumes, and a growing interest in both residential and commercial properties.