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Business Standard
4 days ago
- Business
- Business Standard
Godrej Properties acquires 16-acre parcel in Pune, eyes Rs 3,100 cr revenue
Godrej Properties, the realty arm of Godrej Industries Group, has acquired a 16-acre parcel in Pune's Upper Kharadi, with an estimated revenue potential of Rs 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, said Godrej Properties in a statement. It's 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 Rs 7,300 crore based on current business assumptions. Earlier this month, the company acquired a 14-acre land parcel in Kharadi that has a revenue potential of Rs 4,200 crore. Additionally, the land parcel in Upper Kharadi is situated within the micro-market of Kharadi–Wagholi and is near the IT hubs of Viman Nagar, Magarpatta and Hadapsar. 'Upper Kharadi has rapidly emerged as one of Pune's most promising real estate corridors, driven by its evolving infrastructure and strong connectivity,' said Gaurav Pandey, managing director and chief executive officer, Godrej Properties. 'This marks our 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. We will aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents,' he said. According to Square Yards Data Intelligence, a real estate data analytics platform, average property prices in Kharadi as of the first quarter of the calendar year 2025 (Q1 CY25) stood at Rs 13,319 per square foot, down from Rs 13,510 per square foot in Q1 CY24. On Monday, the company announced that it will develop a premium residential project on a 14-acre land parcel in Hoskote, East Bengaluru, with an estimated revenue potential of Rs 1,500 crore. Earlier, the company recorded its highest-ever quarterly bookings of Rs 10,163 crore in the fourth quarter of FY25, up 7 per cent from the year before. The company's quarterly bookings crossed Rs 10,000 crore for the first time.
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Business Standard
09-06-2025
- Business
- Business Standard
Hiranandani Communities launches ₹1,100 cr residential project in Panvel
Mumbai-based billionaire Niranjan Hiranandani's Hiranandani Communities has launched a residential project with an estimated topline potential of Rs 1,100 crore in Panvel, part of the Mumbai Metropolitan Region (MMR). The project, named The Arena, is a premium residential development located within Hiranandani Fortune City, Panvel. Spanning over 10 acres, it will comprise eight towers and more than 1,700 residences. The first three towers will be launched in the first phase, featuring 600 premium 2 BHK (priced at Rs 1.31 crore), 3 BHK, and 4 BHK (over Rs 1.77 crore) units, ranging from 730 square feet to 1,900 sq ft. Niranjan Hiranandani, chairman of Hiranandani Communities, said, 'Panvel's growth potential is further fuelled by rising per capita income, expanding employment opportunities, and the migration of talent seeking holistic residential solutions. Aspirational buyers, including millennials upgrading their lifestyle and NRIs gravitating towards investment-friendly yet high-ROI options, are drawn to branded developments like Hiranandani Fortune City for their seamless integration of luxury, quality, and community living.' Panvel, part of Mumbai 3.0 and the Navi Mumbai International Airport Notified Area (Naina), saw 5,315 new sales transactions worth Rs 2,526 crore in the first quarter of calendar year 2025 (Q1 CY25), according to Square Yards Data Intelligence. Average residential prices in the region stood at around Rs 10,737 per sq ft during Q1 CY25. 'Major infrastructure projects like the Mumbai Trans Harbour Link (MTHL), Navi Mumbai International Airport, freight corridors, suburban railway and regional highway projects have positioned Panvel as the gateway to accelerated economic progress. Seamless connectivity through improved road, rail, air, and sea networks is bolstering the area's desirability among homebuyers and investors alike, creating strong demand across residential, commercial, and industrial segments,' the company noted. Additionally, Hiranandani Fortune City is a 588-acre integrated township comprising luxury residences, Asia's largest data centre – NM1 Yotta, retail and commercial office spaces, and more.
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Business Standard
30-04-2025
- Business
- Business Standard
Supreme Universal registers ₹174 cr txn for its ultra-luxury property
Supreme Universal has closed a Rs 174 crore transaction at its ultra-luxury project, Supreme ArtHouse, in Mumbai's Bandra. The sea-facing duplex, spread across 12,148 square feet and occupying two entire floors, has been purchased by Sarvesh Singh, executive director of Alkem Laboratories. The transaction attracted a stamp duty of Rs 10.44 crore, and is one of Bandra's biggest sea-facing residential deals, the company stated. 'Strategically located at Carter Road, this rare residence offers unrestricted views of the Arabian Sea on three sides, with only one apartment per floor.' 'We understand the ultra-luxury segment deeply — from refined design sensibilities to what today's discerning customer truly desires,' said Sunny Bijlani, joint managing director, Supreme Universal. 'While such transactions are more commonly seen in South Mumbai or Worli, this deal marks the largest of its kind on the Bandra seafront. At Supreme Universal, ultra-luxury is not just a segment — it's our core strength and identity,' he added. Established in 1982, Supreme Universal operates in the luxury and boutique real estate segments across Mumbai and Pune. Additionally, Pali Hill is a prime residential market in Mumbai. According to Square Yards Data Intelligence, the region saw 29 property transactions with a gross sales value of Rs 385 crore in the calendar year 2024. The property rates in the area hover around Rs 1.4 lakh per square foot as of the fourth quarter of the calendar year 2024 (Q4CY24), down from Rs 1.5 lakh per square foot in Q4CY23 — a price change of 6.7 per cent. Prestige Group and Rustomjee are among the other prominent developers present in the locality.
