ANAROCK Capital, the capital markets advisory and transactions arm of real estate services firm ANAROCK Group, has announced the successful closure of a major land deal in Wagholi, Pune. The land parcel, admeasuring over 12.5 acres, has been acquired by Gera Developments Pvt Ltd having a development potential of 2.5 million sq. ft. and a total revenue potential of approx. INR 2000 crore. The seller has not been disclosed.
Mohammed Aslam, President – ANAROCK Capital, says, “We congratulate Gera Developments for this strategic acquisition, which will help the firm to strengthen its leadership position in the Pune market. The land has been earmarked for the development of a themed residential project under Gera’s highly successful Child Centric Homes banner. Wagholi works perfectly for such a concept development, with leading educational institutes such as Orchids International School, Poddar International School, and SNBP International School operating there.”
Wagholi has been witnessing considerable spill-over demand from major IT hubs like Kharadi, Hadapsar, Magarpatta City, Koregaon Park, and nearby industrial zones of Ranjangaon and Shikrapur. The area’s well-developed social infrastructure is another key factor driving Wagholi’s rapid development. The location is extremely popular with IT/ITeS and manufacturing professionals. Average housing prices here have appreciated by 18% since 2017 – from INR 6,100 per sq. ft. on carpet area to INR 7,200 per sq. ft. in 2022 – with even higher price growth for themed projects by reputed developers.
Among the most successful of a wide range of themed residential projects being developed in India today, child-centric housing projects are specifically designed for children-friendliness, both in terms of safety and features which children find engaging and enriching. With a strong accent on recreational and educational facilities, child-centric projects offer a secure, safe and self-sustaining environment for children to grow up in.
Gera Developments, which has a long-term credit rating of AA- and a short-term rating of A1+, have taken the concept of child-centric homes to the next level, having tied up with India’s leading celebrities such as Rohit Sharma, Mahesh Bhupathi, Pullela Gopichand, Bhaichung Bhutia, Shankar Mahadevan, and Shiamak Davar to set up learning academies right within their ChildCentric homes projects.
The Firm chooses their locations carefully to dovetail with this concept’s specific requirements, and Wagholi ticks all the right boxes in this respect. With this acquisition, Gera Developments add another 2.5 Mn sq. ft to its ChildCentric Home portfolio.
Also Read: MMR is behind these Cities in Office Leasing
