Godrej Properties Secures 11 Acres of Land in Pune for Residential and Retail Development
Godrej Properties has acquired leasehold rights for an 11-acre land parcel in Hinjewadi, Pune, with plans to develop group housing and high street retail, promising a revenue potential of Rs 1,800 crore.
Pune Real EstateGodrej PropertiesBirla EstatesResidential DevelopmentCommercial DevelopmentReal Estate PuneJun 29, 2024
New Development in Pune
The acquired land parcel has a developable potential of approximately 2.2 million sq ft, with an estimated revenue potential of about Rs 1,800 crore. Godrej Properties plans to develop group housing and high street retail on the said land parcel, which is expected to cater to the growing demand for quality residential and commercial spaces in Pune.
Godrej Properties
Godrej Properties is a leading real estate developer in India, known for its commitment to excellence and customer satisfaction. With a strong presence in several cities across the country, the company has established itself as a trusted name in the industry.
Other Developments in Pune
Apart from Godrej Properties, Birla Estates has also acquired a significant land parcel in Manjri, Pune. Spread across 16.5 acres, the land parcel has a development potential of approximately 32 lakh sq ft and an estimated revenue potential of Rs 2,500 crore.
Industry Trends
The real estate industry in Pune is witnessing significant growth, driven by the demand for quality residential and commercial spaces. The city's proximity to Mumbai, its thriving IT industry, and its pleasant climate make it an attractive destination for investors and homebuyers alike.
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Frequently Asked Questions
What is the size of the land parcel acquired by Godrej Properties in Pune?
The land parcel is approximately 11 acres in size.
What is the estimated revenue potential of the project?
The estimated revenue potential of the project is about Rs 1,800 crore.
What type of development is planned on the land parcel?
Godrej Properties plans to develop group housing and high street retail on the land parcel.
What is the developable potential of the land parcel?
The land parcel has a developable potential of approximately 2.2 million sq ft.
What is the significance of Pune in the real estate industry?
Pune is a significant hub for the real estate industry due to its proximity to Mumbai, its thriving IT industry, and its pleasant climate, making it an attractive destination for investors and homebuyers alike.
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