Godrej Properties Secures Prime Land in Pune for Mega Housing Project
Godrej Properties has acquired a 14-acre land parcel in Pune's Kharadi-Wagholi area to develop a group housing project worth ₹4,200 crore. The strategic location and high demand in the region make this a significant move for the real estate giant.
Real EstateGodrej PropertiesPuneHousing ProjectKharadiwagholiReal EstateJun 03, 2025
The company did not disclose the investment amount for the land acquisition. However, the strategic location of the land parcel is a significant factor in the project's potential success. It is situated near major commercial hubs in Kharadi, Pune, and provides easy access to schools, hospitals, malls, restaurants, and premium hotels. Additionally, the site is in close proximity to Chhatrapati Sambhaji Maharaj International Airport, making it an attractive location for both residents and investors.
Gaurav Pandey, MD and CEO of Godrej Properties, expressed his enthusiasm about the acquisition. “Kharadi, Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro-market. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build a high-quality development that creates long-term value for its residents,” he said.
The Kharadi-Wagholi micro-market has emerged as one of Pune’s high-demand residential corridors, driven by its proximity to major IT and business hubs, improving infrastructure, and growing social amenities. Backed by demand from a rising professional workforce, the region has rapidly evolved into a high-growth residential market and a key driver of Pune’s real estate expansion.
According to local brokers, the per square foot rate of apartments in Kharadi ranges from ₹8,000 to ₹12,000. The area has several prominent developers, including Kolte Patil Developers, GERA, and Mahindra Lifespaces. This competitive landscape underscores the region's appeal and the potential for high returns on investment.
However, the overall Pune real estate market has seen a softening trend over the past year. Housing sales have declined, and property registrations increased by just 1% year-on-year from 14,244 in April 2024 to 14,421 in April 2025, according to data from the Maharashtra Inspector General of Registration (IGR). Stamp duty collections in the Pune district also declined by 3% in April 2025, amounting to ₹547 crore compared to ₹566 crore in the same month last year.
Despite these challenges, real estate consultancy Knight Frank India maintains that the Pune real estate market will remain stable in 2025. The acquisition by Godrej Properties is a clear indication of the company's confidence in the region's long-term growth potential and its commitment to delivering high-quality residential projects.
Frequently Asked Questions
What is the size of the land acquired by Godrej Properties in Pune?
Godrej Properties has acquired a 14-acre land parcel in the Kharadi-Wagholi area of Pune.
What is the estimated revenue potential of the housing project?
The estimated revenue potential of the housing project is ₹4,200 crore.
What is the developable area of the land parcel?
The potential developable area of the land parcel is approximately 3.7 million square feet.
What are the key features of the Kharadi-Wagholi area?
The Kharadi-Wagholi area is known for its proximity to major commercial hubs, schools, hospitals, malls, restaurants, and premium hotels, as well as its close proximity to Chhatrapati Sambhaji Maharaj International Airport.
What is the current state of the Pune real estate market?
The Pune real estate market has seen a softening trend over the past year, with a 1% increase in property registrations and a 3% decline in stamp duty collections.
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