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.
',
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.
Related News Articles
SBI Funds Management Snaps Up Prime Office Spaces in Mumbai's BKC for ₹103 Crore
SBI Funds Management acquires two office properties in Mumbai's Bandra-Kurla Complex for ₹103 crore, marking a significant deal in the commercial real estate sector.
Smile 2 Review: Naomi Scott's Struggles in the Spotlight
Director Parker Finn's 'Smile 2' delves into the chaotic life of pop star Skye Riley, played by Naomi Scott, but the film's ambitious exploration of mental health and fame often falters.
Dubai's Real Estate Market Thrives with Rising Rents and Steady Growth
The real estate market in Dubai demonstrated remarkable resilience and growth in November 2024, with average annual rent prices surging by 20.8% to AED 90,288 ($24,577).
Mumbai Real Estate Market Surges to 13-Year High in 2024
Mumbai's real estate market, both residential and office, witnessed a significant boom in 2024, according to the Knight Frank India report. The city recorded sales of 96,187 residential units, marking a 13-year high with an 11% year-on-year increase.
BMC Seizes Properties Worth Rs 21.63 Crore from Two Developers for Unpaid Property Tax
The Brihanmumbai Municipal Corporation (BMC) has taken a significant step by seizing properties worth Rs 21.63 crore from two developers in Mumbai due to unpaid property tax dues.
Adani Group Secures Rs 36,000 Crore Motilal Nagar Redevelopment in Mumbai
The Adani Group has successfully won the bid for the redevelopment of Motilal Nagar in Mumbai, marking their second major urban regeneration project after Dharavi. This ambitious venture underscores the growing role of private developers in transforming M