Godrej Properties acquires 12-acre land parcel in Pune’s Mundhwa

Godrej Properties, the real estate development arm of the Godrej Group, has acquired a 12-acre land parcel in Mundhwa locality of Pune. The company is planning to develop a premium group housing project on this land parcel.

The project will have a developable potential of around 2.2 million sq ft with an estimated revenue potential of around Rs 2,000 crore based on the current business assumptions.

"Mundhwa is an important micro-market in Pune and we are happy to add this land parcel to our portfolio. This will further expand our presence in Pune and fits with our strategy of deepening our presence in established micro markets across India's leading cities,” said Mohit Malhotra, MD & CEO, Godrej Properties.

Among the centrally-located residential areas in Pune, the location has established physical and social infrastructure and offers excellent connectivity to all major social and commercial hubs of Pune city. It is also near the upmarket Koregaon Park area.