Transactions for 32 hectares of main land in the Wagholi Pune area have been signed between two leading developers of the city – Goel Ganga Group and Kohinoor Group. Anarock property consultant facilitates an agreement.

Parcel land, sold by Goel Ganga to Kohinoor, has the overall development potential of about 4 million square feet. On the Housing Front, the project planned will serve mainly for middle segment home buyers, with price units in the budget range ‘Sweet Spot’ Rs 55-80 Lakh, Anarock said in a statement.

“We are pleased to have activated a timely land transaction between two leading real estate players Pune. Real estate development in Pune is on a sustainable increase, driven by a tough IT sector in the city and increased demand for home ownership in the midst of the reality of new pandemics. Wagholi is The nest of residential and commercial real estate activities, “said Shobhit Agarwal, MD and CEO – Capital Market, Anarock Group.

“Kohinoor Group Pune confirmed the purchase of 32 hectares in the upcoming Hub IT Pune (Wagholi) to develop housing projects and IT offices with the famous school facilities and lifestyle. Wagholi is the perfect location for the project we will develop there , because it has clients driven by him looking for superior offers, “said Vineet Goyal, Joint Managing Director – Kohinoor Group.

Wagholi, located along the Pune-Ahmednagar highway, the benefits of many growth drivers. It attracts an abundant request directly from other main and commercial housing hubs such as Kharadi, Hadapsar, Magarpatta City, Koregaon Park, and the closest industrial zone of Ranjangaon and Shikrapur.

It has social infrastructure that is well developed and protected by IT professionals and industrial employees. The highest demand in this field is for medium options and premium housing.

Wagholi is a residential request magnet that really, with around 29,400 units launched here since 2013 to date. Land prices here range from Rs 1,800 to Rs 2,000 per SQFT and housing projects have become a combination of middle size (200-500 units) and large projects (more than 500 units) for years.

“This land transaction ensures that Wagholi provides other important housing development by one of the most respected and trusted real estate players,” said Mohammed Aslam, President – Capital Markets (Pune) Group Anarock.