Godrej Properties said it has acquired 16-acre land parcel in Upper Kharadi, Pune and will develop premium group housing and high-street retail.
“The project will have a developable potential of 2.5 million square feet with an estimated revenue potential of Rs 3,100 crore,” the company said in a regulatory filing.
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 Rs 7,300 crore.
Gaurav Pandey, MD and CEO, Godrej Properties, 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. We will aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents.”
The land parcel is strategically located within the promising micro-market of Kharadi-Wagholi, offering good connectivity to major commercial hubs, and is in close proximity to IT hubs in Viman Nagar, Magarpatta, and Hadapsar. The location also offers access to well-developed social infrastructure, which includes schools, hospitals, malls, restaurants, and premium hotels, further enhancing the area’s appeal for homebuyers.
According to PropEquity, new supply in Pune dropped by 42% and sales fell by 23% in Q1 2025. The city accounted for 16% of the total supply and 18% of the total sales.
Recently, the company had announced that it will develop a premium residential project on a strategically located 14-acre land parcel in Hoskote, East Bengaluru.
“The proposed development is expected to offer approximately 1.5 million square feet of saleable area with an estimated revenue potential of Rs 1,500 crore,” the company said.
