Strategic Location
The specific investment amount for the land acquisition has not been disclosed. However, the company stated that the parcel is strategically located near major commercial hubs in Kharadi, providing convenient access to schools, hospitals, malls, restaurants, and premium hotels. It is also in close proximity to Chhatrapati Sambhaji Maharaj International Airport.
Company Insights
Gaurav Pandey, MD and CEO of Godrej Properties, expressed enthusiasm about entering the Kharadi-Wagholi micro-market, stating, “Kharadi, Wagholi is one of the most sought-after destinations in Pune. This acquisition enhances our presence in Pune and aligns with our strategy to strengthen our footprint across key micro-markets in India. We aim to create a high-quality development that adds long-term value for residents.”
Market Demand
The Kharadi-Wagholi area has emerged as one of Pune’s high-demand residential corridors, driven by its proximity to major IT and business hubs, improving infrastructure, and growing social amenities. The region is rapidly evolving into a high-growth residential market, supported by demand from a rising professional workforce, making it a significant contributor to Pune’s real estate expansion.According to local brokers, the price per square foot for apartments in Kharadi ranges between ₹8,000 and ₹12,000, with several developers, including Kolte Patil Developers, GERA, and Mahindra Lifespaces, active in the area.
Pune Real Estate Market Overview
The Pune real estate market has experienced a softening in housing sales over the past year, as noted by developers. However, Knight Frank India, a real estate consultancy, has projected that the market will remain stable in 2025.In April 2025, property registrations in Pune showed little change, with a slight 1% increase year-on-year—from 14,244 in April 2024 to 14,421 this year, according to data from the Maharashtra Inspector General of Registration (IGR). Conversely, stamp duty collections in the Pune district fell by 3% in April 2025, totaling ₹547 crore, down from ₹566 crore in the same month the previous year.
