Godrej Properties Expands in Pune with Major Housing Project

Realty firm Godrej Properties Ltd has acquired a 14-acre land parcel in Pune, planning to develop it for premium housing. The project holds a revenue potential of Rs 4,200 crore and is part of the company's strategic expansion in key Indian markets.

Godrej Properties Ltd has announced a significant expansion move by acquiring a 14-acre plot in Pune's Kharadi-Wagholi area, aiming to develop a premium group housing project. The initiative is projected to generate revenue of Rs 4,200 crore.

In a regulatory filing on Monday, the company revealed plans for the land acquisition, indicating a 3.7 million square feet developable area. Gaurav Pandey, MD & CEO of Godrej Properties, emphasized the site's attractiveness and its role in strengthening the company's presence in Pune.

Godrej Properties, a major real estate developer, has extensive operations across the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, and Pune, and has recently expanded into Hyderabad, aiming to grow its presence in vital Indian markets.

(With inputs from agencies.)