Godrej Properties, one of India’s leading real estate developers, has announced the acquisition of 4 acres of land in Pune, Maharashtra, to develop a brand-new residential structure.
This would be the first luxury property for Godrej Properties in the city, according to Gaurav Pandey, MD & CEO of the company. The developer intends to create an exceptional residential neighborhood that adds long-term value for its residents.
A joint venture deal between Godrej Properties, Pratap Sarnaiks’ Vihang Group, and M3M India would be used to create the new project.
The project will have a mix of 1, 2, and 3 BHK units and is anticipated to have a saleable area of about 800,000 square feet. The property is in a prime location for homeowners because it is adjacent to various significant business and residential areas in Pune.
According to a release from JLL, the property is situated in Koregaon Park and will feature upscale residential and retail areas.
“We are pleased to have purchased this piece of property in one of Pune’s most prestigious neighborhoods. Our goal will be to produce a first-rate residential community that adds long-term value for its members as this would be our first premium development in the city “Godrej Properties’ MD and CEO, Gaurav Pandey, said.
According to Sanjay Bajaj, Managing Director at JLL, Pune, Koregaon Park is quickly establishing itself as a premier office destination thanks to the addition of approximately 4 million square feet of supply over the next three years by eminent developers including RMZ Corp, Godrej, Amar Builders, and others.
He added, “huge captive campuses are also proposed in the area, which would result in employment possibilities and a need for housing in the area.”
Godrej Properties is known for developing top-notch, environmentally friendly real estate property in Pune and is no exception.
The project will be environmentally and energy-efficient, the company said, by focusing on creating green spaces and utilizing the most modern technologies and architectural components.
The purchase of 4 acres of land by Godrej Properties in Pune is a significant move because it would allow the company to expand its presence in the city. In Pune, one of India’s fastest-growing cities, there will likely be a surge in demand for residential and commercial structures during the next few years.
One of the most innovative and forwarding real estate developers in India is Godrej Properties. The business has also garnered multiple honors for its work.
The joint venture between Pratap Sarnaik’s Vihang Group and M3M India is anticipated to pool the resources and collective knowledge of these businesses to produce high-quality residential projects in Pune.
This new project is anticipated to be a success and will further boost Godrej Properties’ footprint in this rapidly expanding metropolis, given the rising demand for residential and commercial properties in Pune.
