The project, as per the regulatory filing, is expected to have a developable potential of 2.5 million square feet with an estimated revenue potential of ₹3,100 crore.
The development on this land will primarily comprise premium group housing and high-street retail, Godrej Properties said in a statement.
The land parcel is located within the micro-market of Kharadi-Wagholi, offering connectivity to major commercial hubs, and is in close proximity to IT hubs in Viman Nagar, Magarpatta, and Hadapsar, the company said.
“Upper Kharadi has rapidly emerged as one of Pune’s most promising real estate corridors, driven by its evolving infrastructure and strong connectivity. This marks our second land acquisition in the micro-market, reflecting both the area’s growing demand and our commitment to expanding in high-potential urban clusters across India,” said Gaurav Pandey, MD and CEO at Godrej Properties.
This is the company’s second land acquisition this month in the Kharadi–Wagholi belt, taking the estimated cumulative revenue potential from the two developments to approximately ₹7,300 crore on the basis of the current business assumptions.
On Monday, Godrej Properties said that it will develop a premium residential project on a strategically located 14-acre land parcel in Bengaluru. The project will have a developable potential of nearly 1.5 million square feet with an estimated revenue potential of ₹1,500 crore.
Shares of Godrej Properties settled with gains of 1.58% at ₹2,440. The stock has risen 9% in the last one month.
