Godrej Properties Ltd. (GPL), a prominent name in Indian real estate, has acquired a 16-acre land parcel in Upper Kharadi, Pune, marking a major expansion in one of the city’s fastest-growing corridors. This acquisition follows another recent deal in the same Kharadi–Wagholi belt, reinforcing GPL’s strategic push in Pune’s high-growth real estate market.
The newly acquired plot is slated for development into a premium mixed-use community, featuring both high-end residential units and a vibrant high-street retail hub. With a projected development potential of approximately 2.5 million square feet, the new project alone is expected to yield an estimated ₹31 billion in revenue.
Strategic Location in Pune’s Emerging Real Estate Hotspot
The Upper Kharadi–Wagholi micro-market is witnessing rapid infrastructure growth and urbanization. With excellent connectivity to key IT and commercial zones such as Viman Nagar, Hadapsar, and Magarpatta, the region is emerging as a preferred choice for professionals and families alike.
Key locational advantages:
- Close proximity to major IT parks and business districts
- Robust road connectivity to Pune Airport and railway station
- Access to established social infrastructure: schools, hospitals, malls, and hotels
This makes the area not just an investment-friendly corridor but also a lifestyle destination.
Project Highlights & Revenue Outlook
This acquisition is part of a dual land deal initiative by GPL in June, with both plots collectively offering a massive revenue potential.
📊 Project Highlights Table
| Feature | Details |
|---|---|
| Land Size | 16 Acres |
| Location | Upper Kharadi, Pune |
| Development Type | Residential + High-Street Retail |
| Total Developable Area | ~2.5 million sq. ft. |
| Estimated Revenue (this deal) | ₹3,100 Crore (₹31 Billion) |
| Total Corridor Revenue | ₹7,300 Crore (₹73 Billion approx.) |
| Strategic Proximity | Viman Nagar, Hadapsar, Magarpatta IT Zones |
Godrej Properties: Focused on High-Growth Urban Clusters
Gaurav Pandey, MD and CEO of Godrej Properties, emphasized the strategic importance of this move:
“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 aim to deliver a thoughtfully designed, future-ready development that adds long-term value and enhances residents’ quality of life.”
This continued investment in Pune aligns with GPL’s broader vision to scale up its presence in India’s tier-1 urban centers through value-accretive land acquisitions.
FAQs
1. What kind of development is planned on the newly acquired land in Upper Kharadi?
The project will include premium residential spaces along with high-street retail outlets, catering to modern urban living.
2. Why is the Kharadi–Wagholi corridor considered a strategic location?
The corridor is near Pune’s major IT and commercial hubs, enjoys superior infrastructure, and offers access to top-tier social amenities.
3. How much revenue is expected from this new Godrej project?
Godrej Properties estimates ₹3,100 crore (₹31 billion) in revenue from this specific 16-acre project.
4. What is the total revenue potential of both Kharadi land deals by Godrej?
Combined, the two recent land deals in the Kharadi–Wagholi corridor are expected to generate ₹7,300 crore (₹73 billion) in revenue.
5. How does this acquisition align with Godrej’s broader strategy?
It supports their goal of expanding into high-demand urban markets through strategic land acquisition and future-ready developments.