Construction Industry News
Godrej Properties has announced the purchase of a 12-hectare plot of land in Mundhwa-East, Pune. The project is expected to have a developable potential of approximately 2.2 million square feet and a revenue potential of Rs 20 billion. This land is primarily being developed for a high-quality group housing project.
Mohit Malhotra, Managing Director and CEO, Godrej Properties, said Mundhwa is an important micromarket in Pune. This will further expand the company's presence in Pune and fits in with its strategy to deepen its presence in established micromarkets in India's leading cities.
Godrej Properties stated in its regulatory application that the location is one of the most centrally located residential areas in Pune, with well-established physical and social infrastructure and excellent connectivity to all major social and commercial centers in the city. It is also close to the posh Koregaon Park.
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