India, June 17 -- Godrej Properties Ltd on June 17 announced that it will develop a 16-acre land parcel in Upper Kharadi, Pune. The project will primarily feature premium group housing and high-street retail, with a developable potential of approximately 2.5 million sq ft and an estimated revenue potential of Rs.3,100 crore, the company said in a statement.

This is Godrej Properties' second land acquisition this month in the Kharadi-Wagholi belt, taking the estimated cumulative revenue potential from the two developments to approximately Rs.7,300 crore, it said.

The land parcel is located within the micro-market of Kharadi-Wagholi, offering good connectivity to major commercial hubs, and is in close proximity to IT hubs in Viman Nagar, ...