Godrej Properties acquires land for a luxury residential project at Koregaon Park in Pune

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The project will have a developable potential of approximately 7.5 lakh square feet with an estimated revenue potential of approximately INR 1,000 crore * 

MUMBAI: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it had acquired a ~4-acre land parcel near Koregaon Park, an upmarket residential area in Pune. The development on this land will primarily be a luxury group housing project. 

Koregaon Park has an established physical and social infrastructure. The location offers excellent connectivity to all significant social and commercial hubs of Pune city.  

Gaurav Pandey, MD & CEO, of Godrej Properties, said, “We are happy to acquire this land parcel in one of the most premium locations in Pune. The demand for luxury realty has been strong over the past few years. This will be our first luxury development in the city, and we will aim to build an outstanding residential community that creates long-term value for its residents.”  

*based on the current business assumptions. 

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