Godrej Properties Acquires 14-Acre Land in Pune's Kharadi-Wagholi Corridor for Mega Housing Project
Godrej Properties has made a strategic move by acquiring a 14-acre land parcel in the Kharadi-Wagholi area of Pune. The company plans to develop a group housing project with a potential developable area of approximately 3.7 million square feet and an estimated revenue potential of ₹4,200 crore.
Pune Real EstateGodrej PropertiesKharadiwagholiHousing ProjectReal Estate DevelopmentReal Estate PuneJun 02, 2025
The company did not disclose the investment amount for the land acquisition. However, the land parcel's strategic location near major commercial hubs in Kharadi, Pune, provides easy access to schools, hospitals, malls, restaurants, and premium hotels. It is also in close proximity to Chhatrapati Sambhaji Maharaj International Airport, making it an attractive location for both residential and commercial developments.
Gaurav Pandey, MD and 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.”
The Kharadi–Wagholi micro-market has emerged as one of Pune’s high-demand residential corridors, driven by its proximity to major IT and business hubs, improving infrastructure, and growing social amenities. Backed by demand from a rising professional workforce, the region has rapidly evolved into a high-growth residential market and a key driver of Pune’s real estate expansion.
According to local brokers, the per sq ft rate of apartments in Kharadi ranges from ₹8,000 to ₹12,000. The area has several developers, including Kolte Patil Developers, GERA, and Mahindra Lifespaces, making it a competitive yet promising market for new developments.
Housing sales in the Pune real estate market have softened over the past year, according to developers. Knight Frank India, a real estate consultancy, has maintained that the Pune real estate market will remain stable in 2025. Pune’s real estate market remained largely unchanged in April 2025, with property registrations increasing by just 1% year-on-year from 14,244 in April 2024 to 14,421 this year, according to data from the Maharashtra Inspector General of Registration (IGR). Meanwhile, stamp duty collections in the Pune district declined by 3% in April 2025, amounting to ₹547 crore compared to ₹566 crore in the same month last year.
Godrej Properties' acquisition of this prime land parcel is a significant step towards fortifying its position in the Pune real estate market. With a focus on high-quality, sustainable developments, the company aims to set new benchmarks in the region and cater to the growing demand for premium residential properties.
Frequently Asked Questions
What is the size of the land parcel acquired by Godrej Properties in Pune?
Godrej Properties has acquired a 14-acre land parcel in the Kharadi-Wagholi area of Pune.
What is the potential developable area of the project?
The potential developable area of the project is approximately 3.7 million square feet.
What is the estimated revenue potential of the project?
The estimated revenue potential of the project is ₹4,200 crore.
What are the key features of the Kharadi-Wagholi micro-market?
The Kharadi-Wagholi micro-market is known for its proximity to major IT and business hubs, improving infrastructure, and growing social amenities. It is also close to Chhatrapati Sambhaji Maharaj International Airport.
Which other developers are active in the Kharadi-Wagholi area?
Other developers active in the Kharadi-Wagholi area include Kolte Patil Developers, GERA, and Mahindra Lifespaces.
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