Godrej Properties Acquires 14-Acre Land in Pune’s Kharadi-Wagholi Corridor for ₹4,200 Crore Project

Godrej Properties has announced the acquisition of a 14-acre land parcel in Pune’s Kharadi-Wagholi corridor. The company plans to develop a group housing project on this site, with a potential developable area of approximately 3.7 million square feet. The project carries an estimated revenue potential of ₹4,200 crore. The exact amount invested in acquiring the land has not been disclosed by the company.

The land is located strategically near major commercial hubs in the Kharadi area of Pune. It offers access to essential amenities such as schools, hospitals, malls, restaurants, and premium hotels. Additionally, the site is close to the Chhatrapati Sambhaji Maharaj International Airport, providing connectivity advantages for residents.

Gaurav Pandey, Managing Director and CEO of Godrej Properties, said that Kharadi-Wagholi is a high-demand residential corridor in Pune. He added that the acquisition strengthens the company’s presence in Pune and fits their strategy of expanding in key micro-markets across India. The company plans to build a high-quality development that creates long-term value for residents.

Kharadi and Wagholi have seen growing demand due to their proximity to major IT and business hubs. Infrastructure improvements and the growth of social amenities in the area have contributed to this trend. The region’s rising professional workforce has played a significant role in the rapid development of the residential market in this corridor, making it one of the drivers of Pune’s real estate expansion.

Local real estate brokers indicate that apartment prices in Kharadi range between ₹8,000 and ₹12,000 per square foot. The area has attracted several developers, including Kolte Patil Developers, GERA, and Mahindra Lifespaces, among others.

The Pune real estate market has shown signs of slowing down over the past year, with housing sales softening according to developers. Knight Frank India, a real estate consultancy, projects that the market will remain stable in 2025 despite these challenges.

Data from the Maharashtra Inspector General of Registration (IGR) shows that property registrations in Pune remained almost unchanged in April 2025, with a slight increase of 1% year-on-year. The number of property registrations rose from 14,244 in April 2024 to 14,421 in April 2025.

On the other hand, stamp duty collections in Pune district declined by 3% in April 2025 compared to the previous year, amounting to ₹547 crore against ₹566 crore collected in April 2024. This decline reflects some softness in transaction activity despite the stable registration numbers.

Godrej Properties’ entry into the Kharadi-Wagholi corridor comes at a time when the area continues to attract demand from homebuyers and investors. The combination of business hubs, infrastructure development, and growing amenities makes the location attractive for residential projects. With this acquisition, Godrej aims to contribute to the ongoing growth in Pune’s residential real estate sector.