The land—its price and seller were not disclosed—will be used for developing a themed residential project under Gera's child-centric homes banner. The deal was closed by ANAROCK Capital, the transactions arm of real estate services firm ANAROCK Group.
Wagholi is apt for child-centric homes as leading educational institutes have operations there, said Mohammed Aslam, president of ANAROCK Capital.
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"The location is extremely popular with IT/ITeS and manufacturing professionals. Average housing prices here have appreciated by 18 per cent since 2017—from Rs 6,100 per sq ft on carpet area to Rs 7,200 per sq ft in 2022—with even higher price growth for themed projects by reputed developers," it said, referring to Information Technology and Information Technology Enabled Services.
Child-centric housing projects are designed for safety and provide recreational and educational amenities features that children find enriching.
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