Godrej Properties acquires land for premium project in Pune…

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Mumbai: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has, on outright basis, acquired a 12-acre land parcel in Mundhwa -East, Pune. The development on this land will primarily be for a premium group housing project.

Among the most centrally-located residential areas in Pune, the location has established physical and social infrastructure and offers excellent connectivity to all major social and commercial hubs of Pune city. It is also in close proximity to upmarket Koregaon Park.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “Mundhwa 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 established micro markets across India’s leading cities.”

*On the basis of the current business assumptions