Godrej Properties Expands in Pune with Second 16-Acre Land Acquisition
Godrej Properties has acquired a 16-acre land parcel in Upper Kharadi, Pune, marking their second significant land deal in the Kharadi–Wagholi belt this month. The company aims to develop premium group housing and high-street retail spaces, with an estimated revenue potential of Rs 3,100 crore.
Godrej PropertiesPuneReal EstateUpper KharadiLand AcquisitionReal Estate PuneJun 17, 2025
The newly acquired land will be used to develop premium group housing along with high-street retail spaces. The project is expected to have a developable potential of around 2.5 million square feet and could fetch an estimated revenue of Rs 3,100 crore.
Just a day before this announcement, Godrej Properties revealed plans to develop a premium residential project on a 14-acre land parcel in Hoskote, East Bengaluru. The upcoming project in Bengaluru is expected to offer around 1.5 million square feet of saleable area. The estimated revenue potential from this development is approximately Rs 1,500 crore. This is another major addition to Godrej’s presence in East Bengaluru, following the success of its earlier project, Godrej Woodscapes.
On June 2, the company announced the acquisition of a 14-acre land parcel in the Kharadi–Wagholi area, Pune, to develop a premium residential project. According to the company, the project will have a developable potential of approximately 3.7 million square feet. The estimated revenue potential from this project stands at around Rs 4,200 crore, based on current business assumptions.
Gaurav Pandey, Managing Director and CEO of Godrej Properties, said, “Upper Kharadi has rapidly emerged as one of Pune’s most promising real estate corridors, driven by its evolving infrastructure and strong connectivity. This marks our second land acquisition in the micro-market, reflecting both the area’s growing demand and our commitment to expanding in high-potential urban clusters across India.”
The Upper Kharadi site is close to key IT hubs like Viman Nagar, Magarpatta, and Hadapsar. It also benefits from well-established social infrastructure, including schools, hospitals, malls, restaurants, and luxury hotels—making it an attractive area for homebuyers.
The share price of Godrej Properties recorded significant gains on June 17 following the announcement. The stock rose by up to 2.17 per cent to hit an intraday high of Rs 2,482.90 per share. Over the past month, the stock has gained 9.58 per cent, rising by Rs 214.
Frequently Asked Questions
What is the estimated revenue potential from the new project in Upper Kharadi, Pune?
The estimated revenue potential from the new project in Upper Kharadi, Pune, is Rs 3,100 crore.
Where is the second land parcel acquired by Godrej Properties located?
The second land parcel acquired by Godrej Properties is located in the Kharadi–Wagholi area of Pune.
What is the developable potential of the project in Upper Kharadi?
The project in Upper Kharadi is expected to have a developable potential of around 2.5 million square feet.
What other major project is Godrej Properties developing in East Bengaluru?
Godrej Properties is developing a premium residential project on a 14-acre land parcel in Hoskote, East Bengaluru.
How has the share price of Godrej Properties performed following the land acquisition announcements?
The share price of Godrej Properties recorded a significant gain of up to 2.17 per cent, hitting an intraday high of Rs 2,482.90 per share.
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