Godrej Properties Acquires 16-Acre Land in Upper Kharadi, Pune; Eyes ₹3,100 Crore Revenue Potential.

Godrej Properties Ltd. (GPL), a leading Indian real estate developer, today announced its acquisition of a ~16-acre land parcel in Upper Kharadi, Pune. This strategic move is set to pave the way for a new premium group housing and high-street retail development, with an estimated revenue potential of approximately ₹3,100 crore.

The newly acquired land has a developable potential of ~2.5 million square feet. This marks Godrej Properties' second land acquisition this month in the rapidly developing Kharadi-Wagholi belt, bringing the estimated cumulative revenue potential from these two developments to approximately ₹7,300 crore.

Strategic Location and Market Potential

The land parcel boasts a strategic location within the promising micro-market of Kharadi-Wagholi. It offers excellent connectivity to major commercial hubs and is in close proximity to the thriving IT centers in Viman Nagar, Magarpatta, and Hadapsar. The area also provides access to well-developed social infrastructure, including schools, hospitals, malls, restaurants, and premium hotels, significantly enhancing its appeal for homebuyers.

Gaurav Pandey, MD and CEO, Godrej Properties, highlighted the significance of the acquisition. "Upper Kharadi has rapidly emerged as one of Pune's most promising real estate corridors, driven by its evolving infrastructure and strong connectivity," he stated. "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. We will aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents."

This acquisition reinforces Godrej Properties' aggressive expansion strategy in key urban markets, focusing on creating integrated developments that cater to modern lifestyle needs.