(HT)
Godrej Properties announced on June 2 that it has 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.
The company did not disclose the investment amount for the land acquisition.
According to the company, the land parcel is strategically located near major commercial hubs in Kharadi, Pune, and provides access to schools, hospitals, malls, restaurants, and premium hotels. It is also in close proximity to Chhatrapati Sambhaji Maharaj International Airport.
“Kharadi, Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro market. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build a high-quality development that creates long-term value for its residents,” said Gaurav Pandey, MD and CEO, Godrej Properties.
The company said that the Kharadi–Wagholi micro-market has emerged as one of Pune’s high-demand residential corridors, driven by its proximity to major IT and business hubs, improving infrastructure, and growing social amenities.
Backed by demand from a rising professional workforce, the region has rapidly evolved into a high-growth residential market and a key driver of Pune’s real estate expansion, the company said in the statement.
According to the local brokers, the per sq ft rate of apartments in Kharadi ranges from ₹8,000 to ₹12,000. The area has several developers, including Kolte Patil Developers, GERA, and Mahindra Lifespaces.
All about the Pune real estate market
Housing sales in the Pune real estate market have softened over the past year, according to developers. Knight Frank India, a real estate consultancy, has maintained that the Pune real estate market will remain stable in 2025.
Pune’s real estate market remained largely unchanged in April 2025, with property registrations increasing by just 1% year-on-year from 14,244 in April 2024 to 14,421 this year, according to data from the Maharashtra Inspector General of Registration (IGR).
Meanwhile, stamp duty collections in the Pune district declined by 3% in April 2025, amounting to ₹547 crore compared to ₹566 crore in the same month last year.
