Godrej Properties to develop a 9-acre project in Pune
The project in Pimpri-Chinchwad will have a developable potential of approximately 1.7 million square feet of saleable area with an estimated revenue potential of approximately INR 1,400 crore*
Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has acquired 9 acres of land parcel in the residential micro-market of Pimpri-Chinchwad in Pune. The development will primarily be for a group housing project.
Pimpri-Chinchwad is one of the established residential locations in Pune and has excellent connectivity to all major social and commercial hubs of Pune city.
Mohit Malhotra, MD & CEO, Godrej Properties, said, “Pimpri Chinchwad 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 key micro markets across India’s leading cities.”
*On the basis of the current business assumptions.
About Godrej Properties Limited:
Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 125-year legacy of excellence and trust with a commitment to cutting-edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.
Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third-party certified green buildings. In 2020 and again in 2021, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.