Godrej Bets on Pune's East with Rs 4,200 Crore Kharadi-Wagholi Project

 

In a strategic move to expand its footprint in Pune’s thriving real estate market, Godrej Properties has acquired a 14-acre land parcel in the rapidly developing Kharadi-Wagholi corridor. The company announced the acquisition on June 2, revealing plans to develop a group housing project on the site with a potential developable area of approximately 3.7 million square feet and an estimated revenue potential of Rs 4,200 crore.

 

Although the investment value for the acquisition has not been disclosed, Godrej Properties emphasized the site's strategic location. Situated near major commercial hubs in Kharadi, the land offers proximity to key urban conveniences such as schools, hospitals, shopping malls, restaurants, and premium hotels. Additionally, it is well-connected to the Chhatrapati Sambhaji Maharaj International Airport, enhancing its appeal for potential homebuyers and investors.

 

“Kharadi-Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro market”, said Gaurav Pandey, MD and CEO of Godrej Properties. “This further enhances our presence in Pune and fits within our strategy of strengthening our footprint across key micro-markets in India. We aim to develop a high-quality project that delivers long-term value for its residents”.

 

Also Read: Kanakia, Hines, Mitsubishi, and Sumitomo Join Hands for $1 Billion Office Project in Mumbai's BKC

 

The Kharadi-Wagholi micro-market has seen rapid growth, driven by its proximity to Pune’s major IT and business hubs, along with significant infrastructure development and growing social amenities. The area has emerged as a preferred residential location, particularly among the city’s expanding professional workforce.

 

Real estate experts note that the current per sq ft rate for apartments in Kharadi ranges from Rs 8,000 to Rs 12,000. Prominent developers like Kolte Patil Developers, GERA, and Mahindra Lifespaces already have a presence in the area, signaling high competition and robust demand.

 

Despite a broader softening in Pune's housing market over the past year, Knight Frank India predicts market stability in 2025. Recent data from the Maharashtra Inspector General of Registration (IGR) shows property registrations in Pune rose marginally by 1% year-on-year in April 2025, from 14,244 to 14,421. However, stamp duty collections in the district declined by 3%, totaling Rs 547 crore compared to Rs 566 crore in April 2024.

 

With this acquisition, Godrej Properties reinforces its confidence in Pune’s long-term real estate potential and adds momentum to the city’s eastern corridor development.