In June 2025, Godrej Properties made its most direct commitment yet to Pune's eastern growth corridor. The company announced it will develop a roughly 16-acre land parcel in Upper Kharadi, primarily comprising premium group housing and high-street retail, with a developable potential of approximately 2.5 million square feet and an estimated revenue potential of around ₹3,100 crore. The announcement followed a separate acquisition earlier that same month. It was 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. Earlier that month, the company had acquired a 14-acre land parcel in Kharadi with a revenue potential of ₹4,200 crore.
The scale of the commitment reflects both confidence in the sub-market and the developer's operating momentum. For the full year FY25, Godrej Properties reported a booking value of ₹29,444 crore, representing 31% year-on-year growth through the sale of 15,302 homes covering 25.73 million sq ft — the highest-ever full-year booking value and volume reported by any real estate developer in India to date. Upper Kharadi enters Godrej's pipeline at a moment when the company is actively deploying capital across Pune at a pace not seen before.
The development is an upcoming premium mixed-use property spread across 16 acres, strategically positioned within Pune's Kharadi-Wagholi micro-market. It offers a collection of 2, 3, and 4 BHK luxury apartments alongside high-street retail shops.
Sustainability is built into the project's specification from the outset. Godrej Properties has aligned the project with IGBC (Indian Green Building Council) Green Building norms, incorporating rainwater harvesting systems, waste management facilities, and solar power for common area lighting. The land parcel is situated within the Kharadi-Wagholi micro-market, offering connectivity to major commercial hubs and proximity to IT hubs in Viman Nagar, Magarpatta, and Hadapsar, as well as access to well-developed social infrastructure including schools, hospitals, malls, restaurants, and hotels.
The developer's own MD and CEO articulated the rationale directly. Gaurav Pandey stated: "Upper Kharadi has rapidly emerged as one of Pune's most promising real estate corridors, driven by its evolving infrastructure and strong connectivity."
That assessment is grounded in observable changes to the sub-market. Kharadi has grown into Pune's IT hub with over 11 million sq ft of office space, and this boom is fueling high demand in Kharadi real estate. With existing commercial campuses, Kharadi hosts over 11 million sq ft of organized office space, and new IT parks under development will add approximately 11.66 million sq ft more, potentially doubling capacity and attracting tens of thousands more professionals. Upper Kharadi sits at the northern edge of this employment cluster, where land parcels of 16 acres are still available but increasingly rare.
Road access from the site covers several key arteries simultaneously. The development delivers access to the Kharadi Bypass Road, the Pune-Ahmednagar Highway (NH-753F), and Mundhwa Road, enabling rapid travel to Pune Airport, Pune Railway Station, and areas like Koregaon Park and Viman Nagar. Pune International Airport is a 20-minute drive from Kharadi, and Pune Railway Station is approximately 10 km away. The forthcoming infrastructure adds further upside: upcoming developments including a Pune Metro Line extension to the area and the proposed Ring Road are expected to further improve connectivity and investment potential in Upper Kharadi.
The Upper Kharadi acquisition is not Godrej's first engagement with eastern Pune. The developer has built a sequence of projects along the Kharadi-Manjari Road and surrounding sub-markets over several years. Godrej Properties has cemented its presence in the Kharadi belt with landmark projects like Godrej Boulevard and Godrej Urban Retreat, both of which redefined the residential benchmark in this part of the city. Godrej Urban Retreat on Kharadi-Manjari Road spans 10 acres and offers 2 and 3 BHK apartments ranging from 880 sq ft to 1,450 sq ft. Godrej River Crest, also on Manjari Road in Kharadi, spreads across 8 acres with 3 and 4 BHK apartments ranging from 1,280 sq ft to 2,250 sq ft.
Across Pune more broadly, Godrej Properties has delivered well-known developments including Godrej Sherwood in Shivajinagar, Godrej Castlemaine in Bund Garden, and Godrej Eternia on the old Mumbai-Pune highway, and currently has more than 25 projects spread across Hinjewadi, Mahalunge, Kharadi-Manjari, Pimpri, Koregaon Park, Mamurdi, and Undri — approximately 32 launches in the city in total. Every Godrej project in Pune is registered with MahaRERA, allowing buyers to verify details of each phase online.
Godrej Properties is the real estate arm of the Godrej Group, founded in 1990. As of mid-2025, the firm has delivered over 215 million sq ft across 65-plus ongoing projects, and has won the trust of more than 60,000 families, backed by the 127-year-old legacy of the Godrej Group.
For the full fiscal year FY25, sales bookings jumped 31% to ₹29,444 crore, making Godrej Properties the largest listed real estate developer by booking value for the second consecutive year. FY25 marked the eighth consecutive year of booking growth, reinforcing the company's leadership position in India's residential market. The Upper Kharadi acquisition, announced in June 2025, is part of an FY26 pipeline that includes ₹40,000 crore worth of planned launches, backed by a ₹6,000 crore QIP.
According to Square Yards Data Intelligence, average property prices in Kharadi as of Q1 CY2025 stood at ₹13,319 per sq ft. The broader Kharadi-Wagholi belt has seen consistent demand from IT professionals, with a modern 2 BHK flat in Kharadi typically renting for ₹35,000–₹45,000 per month depending on amenities, with constant demand from IT professionals and expatriates generating some of the highest rental yields in Pune's residential market.
The social infrastructure around the project site is already mature. EON IT Park, Zensar Technologies, World Trade Centre, and Panchshil Tech Park are among the major commercial properties in Kharadi. For education, the area hosts institutions such as Victorious Kidss Educares (IB curriculum), Phoenix World School, Dhole Patil College, and Podar International School. For healthcare, Columbia Asia Hospital, Noble Hospital, and Ruby Hall Clinic provide medical services in the vicinity. This depth of social infrastructure — schools, hospitals, malls, and commercial campuses all within a short radius — is precisely the profile Godrej Properties seeks when deploying capital at the scale the Upper Kharadi project represents.
