On June 17, 2025, Godrej Properties Limited (GPL), one of India's foremost real estate developers, announced the acquisition of approximately 16 acres of prime land in Upper Kharadi, a rapidly growing micro-market located in eastern Pune. This announcement follows the company’s first acquisition in the Kharadi–Wagholi corridor earlier this month, indicating its strong focus on this high-potential zone.

This land acquisition reflects Godrej Properties’ strategic expansion plan in India’s fastest-growing urban centres. The newly acquired land will be developed into a premium residential complex and a high-street retail hub, according to a formal statement released by the company.

The proposed project will have a developable potential of approximately 2.5 million square feet, and based on current business assumptions, is expected to generate a revenue potential of around ₹3,100 crore. Combined with the previous land acquisition made earlier in the same micro-market this month, the total revenue potential from the two projects is estimated to be ₹7,300 crore, reinforcing the company’s aggressive yet calculated push in Pune's eastern corridor.

Gaurav Pandey, Managing Director and CEO of Godrej Properties, emphasized the significance of this move by stating,

“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.”

Strategic Importance of Upper Kharadi

Upper Kharadi, where the newly acquired land is located, lies in proximity to Kharadi, Wagholi, and major IT hubs such as Viman Nagar, Magarpatta, and Hadapsar. These areas are home to top-tier technology parks, IT companies, and commercial establishments, making them highly sought after by both working professionals and investors.

The micro-market also enjoys robust social infrastructure, including renowned schools, multi-specialty hospitals, shopping malls, restaurants, and upscale hotels, thus offering a wholesome urban lifestyle. The connectivity to key arterial roads and the Pune International Airport further amplifies the attractiveness of this locality.

This location-specific investment underscores Godrej Properties' confidence in the growth trajectory of the Kharadi–Wagholi belt, which has seen a surge in demand for high-end housing and quality retail spaces due to its urbanization and infrastructural upgrades.

About the Development Plan

The newly proposed project will be premium in nature, catering to affluent homebuyers seeking modern living amenities, high-end design, and sustainable features. In addition to group housing, the high-street retail space planned within the development will bring an added layer of convenience and commercial vitality to the region.

The development will follow Godrej Properties' core philosophy of sustainability, innovation, and design excellence, ensuring that the new community becomes a benchmark in urban living standards.

Godrej Properties – Consistent Market Leadership

Godrej Properties is the real estate arm of the Godrej Industries Group, known for its legacy of trust and innovation spanning 128 years. In FY 2024, Godrej Properties emerged as India’s largest real estate developer by residential sales value, showcasing its ability to anticipate market demand and scale operations accordingly.

Since 2010, Godrej Properties has committed to certifying all its projects as green buildings, in alignment with its environmental sustainability goals. Its commitment to responsible development is further evident from its multiple accolades in recent years, including:

• #1 globally ranked residential developer by the Global Real Estate Sustainability Benchmark (GRESB) in 2020, 2021, and 2022

• Over 400 awards and recognitions, such as the Developer of the Year at the GRI India Awards 2024, The Porter Prize 2019, and The Economic Times Best Real Estate Brand 2018

• Founding partner of the Sustainable Housing Leadership Consortium (SHLC) since 2017

Godrej Properties continues to integrate cutting-edge design, technology, and green practices across all its developments, thereby delivering superior value to stakeholders while preserving environmental harmony.

Strategic Vision and Expansion Roadmap

The latest Upper Kharadi land acquisition is a testament to Godrej’s robust financial planning, land banking strategy, and long-term urban vision. It fits into a broader company roadmap to expand across India’s top 6-8 cities, with a focus on urban micro-markets offering high absorption potential, infrastructure growth, and end-user preference.

Pune, particularly its eastern corridor, remains a core market for Godrej Properties, due to its talent base, IT infrastructure, and rising demand for gated communities. With both acquisitions in Kharadi-Wagholi zone this month, the company has secured a dominant position in Pune’s most dynamic real estate corridor.

This strategic move is expected to contribute significantly to the company’s financials over the next 3–6 years, not only in terms of revenue but also in brand visibility and market share in West India.

With this acquisition, Godrej Properties Limited reiterates its commitment to sustainable urbanization, customer-centric development, and growth in high-yield regions. As Pune continues to witness urban sprawl led by technology, education, and commerce, developments like this will set the tone for the future of residential real estate in the region.

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