Godrej Properties Secures 8.5-Acre Land in Pune's Mahalunge for New Residential Project
NEW DELHI: Godrej Properties (GPL) has secured an 8.5-acre land parcel through outright purchase in Mahalunge, Pune. This strategic acquisition is a significant step in the company's broader strategy to strengthen its presence in Pune and expand across high-potential micro-markets in India’s leading cities.
The proposed development will primarily comprise group housing, offering a developable potential of approximately 2.1 million sq ft. The project is expected to generate an estimated revenue potential of ₹2,000 crore, underscoring the company's commitment to delivering high-quality residential solutions.
Gaurav Pandey, MD & CEO of Godrej Properties, emphasized the strategic importance of this acquisition. '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,' he stated.
In a separate announcement, the company revealed that it will hand over homes in close to 10 projects across the National Capital Region (NCR) this season. This move highlights Godrej Properties' dedication to meeting the growing demand for quality housing in key urban centers.
Godrej Properties, a leading real estate developer in India, has a strong track record of delivering premium residential and commercial projects. The company's focus on sustainable and innovative development practices has earned it a reputation for excellence in the industry.
The acquisition in Mahalunge is expected to bolster Godrej Properties' portfolio and contribute to the company's long-term growth and profitability. With a strategic location and a well-planned development, the new residential community is poised to become a sought-after destination for homebuyers in Pune.
As the real estate market continues to evolve, Godrej Properties remains committed to leveraging its expertise and resources to create value for its stakeholders. The company's proactive approach to land acquisition and project development ensures that it stays ahead of the curve in meeting the evolving needs of the market.
