Godrej Properties Ltd. has acquired a nine-acre land parcel in Pimpri-Chinchwad, Pune
MUMBAI, Mar 30 (The CONNECT) – Listed realtor Godrej Properties Ltd. (GPL) said it has acquired a nine-acre land parcel in the residential micro-market of Pimpri-Chinchwad in Pune.
The development will primarily be for a group housing project.
The project 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, basis current market prices.
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.”
