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Gera Developments acquires 12.5 acres land parcel in Pune

The land has been earmarked for the development of a themed residential project under Gera's Child Centric Homes banner. ANAROCK Capital facilitated the deal.

Gera Developments has acquired land parcel measuring over 12.5 acres in Wagholi, PuneANAROCK Capital which facilitated the deal informed in a media release.

It has a development potential of 2.5 million sq ft and a total revenue potential of approximately Rs 2,000 crore. The seller has not been disclosed.

Mohammed Aslam, president, ANAROCK Capital said, “The land has been earmarked for the development of a themed residential project under Gera’s Child Centric Homes banner.”

Average housing prices in Wagholi have appreciated by 18% since 2017 – from Rs 6,100 per sq. ft. on carpet area to Rs 7,200 per sq ft in 2022.

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