Real estate giant Godrej Properties has made public its plans to develop an 11-acre land parcel in Hinjewadi, Pune, with the project primarily focused on group housing and high street retail.
What Happened: The proposed development is anticipated to have the development potential of around 22 lakh square feet. The company has estimated the revenue potential of the project to be around ₹1,800 crore, based on current business assumptions.
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The land parcel is located near the upcoming Megapolis Metro Station, providing connectivity to major IT hubs in the area. The location also offers access to essential amenities such as schools, hospitals, malls, restaurants and premium hotels.
“Hinjewadi is an important micro market for us in Pune and we are happy to add this land parcel to our portfolio. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India,” Gaurav Pandey, managing director and CEO of Godrej Properties, said.
Price Action: Shares of Godrej Properties were down 0.54% at ₹3,190.50 on Monday morning after shooting up in early trade.
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