Mumbai: Pune-headquartered Gokhale Constructions, a reputed real estate developer known for premium residential and large-scale commercial developments, has acquired a 3.5-acre land parcel in Model Colony, Pune, from the Seth Hirachand Nemchand Smarak Trust for ₹311 crore.
The acquired plot, formerly housing the Seth Hirachand Nemchand Digambar Jain Boarding, is strategically located in one of Pune’s most sought-after localities. Gokhale Constructions plans to transform this prime space into a world-class 16 lakh sq ft ultra-luxury residential and high-end retail project, with a projected revenue potential of ₹2500 crore. Each luxury condominium is expected to be priced starting at ₹7 crore.
In a thoughtfully integrated plan, the development will also feature a modern 51,000 sq ft hostel along with enhancements to the existing Jain temple on the site — creating a blend of cultural continuity and urban elegance.
Vishal Gokhale, Founder of Gokhale Constructions, continues to steer the company’s bold growth strategy. With over 200 completed residential projects and more than 5,000 families housed in central Pune, the firm is currently developing 2 million sq ft of residential space and 3 million sq ft of commercial projects.
Further signaling its expansion intent, Gokhale Constructions is now eyeing Mumbai’s prime real estate market, where it is in advanced stages of negotiations to acquire marquee properties.
This landmark land acquisition positions Gokhale Constructions at the forefront of Pune’s luxury real estate development and reflects the growing demand for high-value integrated urban living spaces.
