Godrej Properties has acquired a ~4 acre land parcel near Koregaon Park, an upmarket residential area in Pune. The development on this land will primarily be a luxury group housing project.
Koregaon Park has an established physical and social infrastructure. The location offers excellent connectivity to all major social and commercial hubs of Pune city.
Gaurav Pandey, MD & CEO, Godrej Properties, 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 facilitated the deal.
Sanjay Bajaj, MD, Pune, JLL, said, “Koregaon Park is fast emerging as a top-notch office destination with prominent developers like RMZ Corp, Godrej, Amar Builders and more adding approx 4 million sq ft of supply over the next three years. Additionally, large captive campuses are also planned in the location which would lead to job opportunities and demand for housing in the vicinity.”
