According to Godrej Properties, land has been acquired for the construction of Premium Group Housing in Pune, India. Godrej Properties is a real estate company and a subsidiary of Godrej Industries Ltd. The company offers end-to-end real estate management solutions for design, building, leasing, and selling properties as well as construction materials.
Land for Premium Group Housing in Pune was acquired in the Mundhwa-East region in Pune. The site, which is approximately 12 acres, is located in an area that has a thriving establishment of social as well as physical infrastructure.Â
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The location is among the most centrally-located residential areas in Pune. It thus offers excellent as well as convenient access to all major commercial as well as social hubs of Pune city. The project is expected to have a developable potential of about 2.2 million square feet. It boasts a revenue potential estimated at Rs. 2,000 crores.
Significance of the land acquisition and the Premium Group Housing project
The CEO and Managing Director of Godrej Properties spoke about the project. Mohit Malhotra noted that Mundhwa plays a significate role in the micro-market within Pune. Thus, the company is more than happy and excited about the land acquisition for the project.
In addition, Malhotra said that the Premium Group Housing project will contribute as well as enable the company to expand its presence within Pune. Moreover, he said that the project fits and aligns with the company’s strategy which includes deepening its presence within established micro-markets. More especially, across and throughout India’s leading cities. Currently, Godrej’s market cap stands at around Rs. 35,045.93 crores.
