Godrej Properties has acquired a 4-acre land parcel near Koregaon Park, a posh residential area in Pune. The company intends to build a luxury group housing project with a developable potential of 7.5 lakh sq ft. Gaurav Pandey, the MD & CEO of Godrej Properties, emphasized that Koregaon Park boasts established physical and social infrastructure and excellent connectivity to major social and commercial hubs of Pune city. Additionally, the area is rapidly becoming a preferred office destination with prominent developers planning to add around 4 million sq ft of supply over the next three years.
This acquisition aligns with Godrej Properties' strategy to enhance its presence across key property markets in the country. Last month, the company also acquired a 28-acre land parcel in Bengaluru's Outer Ring Road and Whitefield neighbourhood to develop a mixed-use project consisting of apartments and retail development. Earlier, the company purchased the bungalow of the renowned Bollywood producer, director, and actor Raj Kapoor in Mumbai's Chembur suburb to develop a premium residential project.