Godrej Properties Acquires 8.5-Acre Land in Pune's Mahalunge: A Strategic Move
Godrej Properties Ltd. (GPL), a prominent real estate developer in India, has announced the acquisition of an 8.5-acre land parcel through outright purchase in the fast-growing micro-market of Mahalunge, Pune. This strategic move is expected to significantly enhance the company's presence in the region and cater to the growing demand for quality housing.
The proposed development will primarily comprise group housing and is anticipated to offer a developable potential of approximately 2.1 million square feet. The project is estimated to generate a revenue potential of INR 2,000 crore. This acquisition aligns with Godrej Properties' broader strategy to expand its footprint in high-potential micro-markets across India's leading cities.
The land is strategically located in the Mahalunge-Maan-Nande belt, which is part of the Mahalunge-Hinjewadi micro-market. It is in close proximity to the upcoming Pune Inner Ring Road, situated along the city’s rapidly developing Hinjewadi–Balewadi corridor. This location benefits from a well-developed social infrastructure, including premier educational institutions such as Delhi Public School, Mahindra International School, and the Symbiosis Centre for Management. Additionally, the area provides convenient access to Baner–Balewadi and Hinjewadi, two prominent micro-markets that serve as major IT and BFSI hubs in Pune.
Gaurav Pandey, MD & CEO of Godrej Properties, commented on the acquisition: “Pune is one of India’s most vibrant urban centers, driven by robust infrastructure development and thriving commercial hubs. Mahalunge, with its strategic connectivity and well-planned social ecosystem, demonstrates the city’s growth story and offers customers an ideal blend of convenience and quality living. Acquiring this land parcel marks an important step in our broader strategy to strengthen our presence in Pune and expand across high-potential micro-markets in India’s leading cities. We will aim to deliver thoughtfully designed spaces that create long-term value for residents and meet evolving customer aspirations.”
This acquisition is a testament to Godrej Properties' commitment to investing in areas with strong growth potential and a significant demand for quality residential projects. As Pune continues to develop as a major urban hub, the company's strategic move is expected to further solidify its position in the market and contribute to the city's overall development.
Godrej Properties is known for its focus on sustainable and customer-centric development, ensuring that each project not only meets but exceeds the expectations of its residents. With this new acquisition, the company is poised to deliver another landmark development that will enhance the quality of life for its future residents and contribute to the economic growth of Pune.
