Godrej Properties to develop 16-acre premium project in Upper Kharadi, Pune with ₹3,100 crore revenue potential

Pune real estate: Godrej Properties' second land deal in the Kharadi–Wagholi belt takes its total estimated revenue potential in the area to around ₹7,300 crore

Godrej Properties Ltd on June 17 announced that it will develop a 16-acre land parcel in Upper Kharadi, Pune. The project will primarily feature premium group housing and high-street retail, with a developable potential of approximately 2.5 million sq ft and an estimated revenue potential of ₹3,100 crore, the company said in a statement.

Godrej Properties Ltd on June 17 announced that it will develop a 16-acre land parcel in Upper Kharadi, Pune. (Photo for representational purposes only) (Unsplash)

This is Godrej Properties’ 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, it said.

The land parcel is located within the 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, it 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,” said Gaurav Pandey, MD and CEO, Godrej Properties.

Godrej Properties on June 2 said that it had acquired a 14-acre land parcel in the Kharadi-Wagholi area of Pune. The company plans to develop a group housing project on the site, with a potential developable area of approximately 3.7 million square feet and an estimated revenue potential of ₹4,200 crore.