Kohinoor group has bought a huge land parcel measuring 32 acres in Pune from another developer Goel Ganga group.
By Varun Singh
Kohinoor Group a real estate firm has bought a 32 acre land parcel in Pune.
The seller of the land is another developer Goel Ganga group.
According to a report the estimated price cost of the land parcel is between ₹180-195 crore.
Anarock Property Consultants carried out the deal.
The land parcel, sold by Goel Ganga Group to Kohinoor Group, has an overall development potential of approx. 4 million square feet.
On the residential front, the planned project will mainly cater to mid-segment home buyers, with units priced in the ‘sweet spot’ budget range of ₹55-80 lakh.
Shobhit Agarwal, MD & CEO – Capital Markets, ANAROCK Group, says, “We are happy to have enabled this timely land transaction between two of Pune’s most prominent real estate players. Real estate development in Pune is on a sustained upswing, driven by the city’s resilient IT sector and increased demand for homeownership amid the new pandemic realities.Wagholi is a hotbed of residential and commercial real estate activity.”
The land parcel is located in Wagholi. Wagholi, located along the Pune-Ahmednagar highway, benefits from multiple growth drivers. It draws direct spillover demand from other major residential and commercial hubs like Kharadi, Hadapsar, Magarpatta city, Koregaon Park, and the nearby industrial zones of Ranjangaon and Shikrapur. It has well-developed social infrastructure and is patronized by IT professionals and industrial employees. The highest demand in this area is for mid-range and premium housing options.
Vineet Goyal, Jt. MD – Kohinoor Group, says, “Kohinoor Group Pune confirms purchase of 32 acres in Pune’s upcoming IT hub of new Kharadi (Wagholi) to develop a premium residential and IT office project along with a reputed school and lifestyle amenities.Wagholi is the perfect location for the project we will develop there, since it has a IT-driven clientele looking for superior offerings with state-of-the-art facilities and amenities.”
