Godrej Properties acquires 16-acre Upper Kharadi land with ₹3,100 crore revenue potential
Strategic Land Buy in Pune's Emerging Commercial Corridor
Godrej Properties has acquired a 16-acre parcel in Pune's Upper Kharadi, with an estimated revenue potential of ₹3,100 crore. The land will be used to build premium group housing and high-street retail. The project has a developable potential of 2.5 million square feet.
This marks the company's second land acquisition in June in Pune's Kharadi-Wagholi belt, taking the estimated cumulative revenue potential from the two developments to approximately ₹7,300 crore.
About the Upper Kharadi Location
The land parcel is strategically located within the promising micro-market of Kharadi-Wagholi, offering good connectivity to major commercial hubs, and is in close proximity to IT hubs in Viman Nagar, Magarpatta, and Hadapsar. The location also offers access to well-developed social infrastructure, which includes schools, hospitals, malls, restaurants, and premium hotels.
Upper Kharadi has undergone significant transformation in recent years. Once known as a quiet neighborhood on the outskirts of Pune, Kharadi has emerged as the epicentre of East Pune's commercial real estate market. With seamless connectivity, Grade-A office space in Kharadi, and institutional-grade developments, Kharadi now plays a pivotal role in driving East Pune's commercial real estate momentum. According to Cushman & Wakefield's Q1 2025 Office Market Report, Pune recorded a historic leasing high of 3.5 million sq ft, led predominantly by the East Secondary Business District—a top commercial hub in Pune that includes Kharadi.
The upcoming extension of Pune Metro Line 2 will connect Kharadi to Bund Garden, Kalyani Nagar, and Ramwadi, reducing travel times across key zones. Kharadi hosts global companies like Credit Suisse, Zensar, and Mphasis, with over 11 million sq ft of IT office space and several new tech parks under construction.
Developer Background and Pune Footprint
Godrej Properties was established in 1990 as the real estate development arm of the Godrej Group, a diversified Indian conglomerate founded in 1897. The company operates in 12 cities across India, including the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru, and Hyderabad.
In 2026, the developer has been active in expanding its Pune presence. In 2026, it acquired an 8.5-acre land parcel in Mahalunge, Pune, through an outright purchase. The proposed development will primarily comprise group housing and is expected to offer a developable potential of approximately 2.1 million square feet.
In calendar year 2025, the Mumbai-based real estate company recorded a 19 percent increase in booking value to ₹34,171 crore and reported cash collections of ₹18,979 crore, marking a 28 percent increase compared to the previous year.
Mixed-Use Development Strategy
According to Gaurav Pandey, MD and CEO of Godrej Properties, "Upper Kharadi has rapidly emerged as one of Pune's most promising real estate corridors, driven by its evolving infrastructure and strong connectivity." Pandey noted that this marks the company's second land acquisition in the micro-market, "reflecting both the area's growing demand and our commitment to expanding in high-potential urban clusters across India."
Kharadi's integrated development model—mixing commercial, retail, and residential zones—has made it Pune's most balanced and future-ready IT corridor. The Upper Kharadi acquisition aligns with this ecosystem, combining premium residential units with high-street retail to serve both the growing workforce and the broader commercial community in the region.