Godrej Properties Acquires Rs 2,000 Crore Housing Project in Pune
New Delhi: Realty firm Godrej Properties Ltd has announced the acquisition of an 8.5-acre land parcel to build a housing project with an estimated revenue of Rs 2,000 crore. The land was acquired through an outright purchase at Mahalunge, Pune.
The proposed development will primarily comprise group housing and is expected to offer a developable potential of approximately 2.1 million square feet, with an estimated revenue potential of Rs 2,000 crore. This strategic move underscores Godrej Properties' commitment to expanding its portfolio in key Indian cities.
Gaurav Pandey, MD & CEO of Godrej Properties, highlighted the significance of the acquisition, stating, “Pune is one of India’s most vibrant urban centers, driven by robust infrastructure development and thriving commercial hubs. This acquisition aligns with our strategy to capitalize on high-growth regions and deliver premium residential projects to our customers.”
Godrej Properties, a leading real estate developer in India, has been actively acquiring land parcels for future developments. The company's focus on strategic locations like Pune reflects its commitment to meeting the growing demand for quality housing in rapidly urbanizing areas.
The acquisition is expected to boost the local real estate market and contribute to the overall economic development of Pune. With a strong emphasis on sustainability and modern amenities, Godrej Properties aims to set new benchmarks in the Indian real estate sector.
Background: Godrej Properties is a renowned name in the Indian real estate industry, known for its high-quality residential and commercial developments. The company has a strong presence across major cities in India and is committed to delivering innovative and sustainable living solutions.
