Godrej Properties acquires land for a luxury residential project in Pune

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it 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, “We are happy to acquire this land parcel in one of the most premium locations in Pune. 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.”

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The shares of Godrej Properties on Friday closed at Rs 1,028.70, up by 0.69 per cent.

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