JLL facilitates marquee land transaction in Pune for Godrej Properties
Pune, 04 April, 2023: JLL announced today that it has facilitated a land transaction at Koregaon Park, Pune for Godrej Properties. This ~ 4 acre land parcel will have a developable potential of approximately 7.5 lac square feet of luxury residential project. Koregaon Park is one of the most premium residential micro markets in Pune and has an established physical and social infrastructure.
Koregoan Park offers easy access to ample residential, office and retail developments along with hotels, hospitals, schools, and more, making it an attractive destination. The location offers excellent connectivity to all major social and commercial hubs of Pune city.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are happy to acquire this land parcel in one of the most premium locations in Pune. The demand for luxury realty has been strong over the past few years. This will be our first luxury development in the city, and we will aim to build an outstanding residential community that creates long term value for its residents.”
Sanjay Bajaj, Managing Director, Pune, JLL said, “Koregaon Park is fast emerging as a top-notch office destination with prominent developers like RMZ Corp, Godrej, Amar Builders and more adding approx 4 million sq ft of supply over the next three years. Additionally, large captive campuses are also planned in the location which would lead to job opportunities and demand for housing in the vicinity.”
“The social infrastructure in Koregaon Park is phenomenal and hosts several premium retail spaces and restaurants making this location very attractive for both tenants and residents. An upcoming mall, riverside road, and metro line shall further improve connectivity to the location.” added Bajaj.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Godrej Properties Limited:
Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 126-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved. Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.