Godrej Properties Acquires 12 Acre Land In Pune For Housing Project
The company on outright basis has acquired a 12-acre land parcel in Mundhwa-East, Pune. Along with a developable potential of around 2.2 million square feet, the project has estimated revenue potential of approximately Rs 2,000 crore
The real estate firm Godrej Properties said that it has purchased 12 acres of land in Pune for a housing development project, on 8 November. It is estimated to have a sales revenue potential of around Rs 2,000 crore.
The company on outright basis has acquired a 12-acre land parcel in Mundhwa-East, Pune. The development on this land will primarily focus on a premium group housing project, as according to a regulatory filing.
Along with a developable potential of around 2.2 million square feet, the project has estimated revenue potential of approximately Rs 2,000 crore, the filing added.
Managing Director and Chief Executive Officer of Godrej Properties said that adding this land parcel to the firm’s portfolio is a matter of happiness as Mundhwa in an important micro-market in Pune. This will expand the firm’s presence in Pune and fulfil the strategy of deepening the presence in established micro markets across India’s leading cities.
Godrej Properties is India’s one of the leading real estate developers, which is part of business conglomerate Goderj group.