Godrej buys 4 acre land in Pune for housing project; eyes Rs 1K-cr revenue

Realty firm Godrej Properties has acquired a 4-acre land parcel in Pune to build a luxury housing project with an estimated revenue potential of Rs 1,000 crore. In a regulatory filing on Saturday, Godrej Properties informed that it has acquired around 4-acre land parcel near Korgaon Park in Pune. The development on this land will primarily be a luxury housing project. "The project will have a developable potential of approximately 7.5 lakh square feet with an estimated revenue potential of approximately Rs 1,000 crore," the company said. The company, however, did not disclose the financial details of the transaction. Gaurav Pandey, the MD and CEO of Godrej Properties, said the demand for luxury homes has remained strong over the past few years. "This will be our first luxury development in the city...," he said. Godrej Properties, the real estate arm of Godrej Group, is one of the leading real estate developers in the country. It mainly focuses on development of housing project

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