Godrej Properties to Develop a Luxury Project in Koregaon Park, Pune

Godrej Properties to Develop a Luxury Project in Koregaon Park, Pune

Koregaon Park, Pune:

Godrej Properties has bought a 4-acre parcel of land in Pune's affluent Koregaon Park neighbourhood. The company plans to construct a luxury project on this premium plot.

Physical and social infrastructure are well developed in Koregaon Park. The position provides good access to all of Pune's main social and business centres.

Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said that Luxury real estate had been in high demand over the last several years. This would their first luxury development in Pune, and they plan to create an exceptional residential community that provided residents with long-term value.

International real estate consultants Jones Lang Lasalle mediated the transaction.

Sanjay Bajaj, Managing Director, Pune, JLL, said that Koregaon Park was quickly becoming a premier office location, with RMZ Corp, Godrej, Amar Builders, and others building around 4 million square feet of supply over the next three years. In addition, huge captive campuses had been planned for the area, which would provide employment possibilities and thereby increase the housing demand in Koregaon Park.

Pune's Koregaon Park is an upscale neighbourhood featuring some of the city's finest luxury developments, an excellent physical and social infrastructure, and an affluent residential population. It is extremely difficult to find any land for development in Koregaon Park and this location commands some of the hihest property rates in Pune.