The Lodha Group, also known as Macrotech Developers has purchased a 2.82-acre land plot in Pune’s Hinjewadi from Paranjape Schemes Constructions for approximately Rs 111 crore, according to documents accessed by CRE Matrix. The transaction was registered on October 14. Lodha incurred a stamp duty of ₹6.64 crore and a registration fee of ₹30,000 for the land acquisition. A part of the land parcel has been identified as a Special Economic Zone (SEZ).
This 2.8-acre plot is part of a larger 120-acre land parcel where Paranjape Schemes is developing an integrated township. The strategic location of the 2.8-acre land parcel in Hinjewadi, Pune’s IT hub, and its proximity to the Mumbai-Pune Expressway make it an attractive investment for Lodha Group.
Paranjape Realty Spaces, a group entity of the seller, had mortgaged the land parcel to obtain a loan from ASK Real Estate Special Opportunities Fund II and III, managed by ASK Properties Investment Advisors.
Recent Land Transactions in Pune
Land deals are picking up pace in India’s major real estate markets including Pune. Developers and investors are actively seeking prime land parcels to fuel their new projects, leading to both outright acquisitions and joint ventures.
In a recent transaction, Prestige Group’s subsidiary acquired a 4.57-acre land parcel in Pune for ₹200 crore.
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