Godrej Properties acquires four acres land for residential project in Pune

NEW DELHI: Godrej Properties (GPL) has acquired about four acres land parcel near Koregaon Park, Pune. The development on this land will primarily be a group housing project, the company said in a BSE filing.

The project will have a developable potential of approximately 7.5 lakh sq ft with an estimated revenue potential of approximately Rs 1,000 crore.

Gaurav Pandey, MD & CEO of the company said, “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.”

JLL in separate media release said that it facilitated the land transaction.