Godrej Properties acquires new project in Pune

Realty firm Godrej Properties Ltd today said it has entered into a partnership agreement to develop a residential project in Pune.

The company, the real estate firm of the Godrej group, will develop a housing project on 59 acres at Mamurdi in West Pune. It did not disclose the name of the partner in question.

The project will offer about 4.5 million sq ft of saleable area in this project, the Mumbai-based developer said in a statement.

The company has recently added two new projects in Bengaluru. It generally ties up with land owners to develop real estate projects.

The site is strategically located just off the Mumbai- Pune expressway and very close to prime commercial centres such as Wakad, Hinjawadi, and the automobile hub at Pimpri Chinchwad.

Godrej Properties Executive Chairman Pirojsha Godrej said, "We are happy to add this large new project in Pune, which is a critical growth market for us. This fits with our strategy of deepening our presence across the country's leading real estate markets."

Godrej Properties is developing residential, commercial and township projects spread across 147 million square feet in 12 cities.