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Pune Land Deal: Rs 250 Crore For 4.2 Acres
9 Feb
Summary
- Pristine Landmark Spaces LLP is acquiring 4.2 acres in Pune.
- The land deal is valued at Rs 250 crore.
- The transaction is in Pune's rapidly developing Vadgaon Sheri locality.
Pristine Landmark Spaces LLP has entered into an agreement to acquire a 4.2-acre land parcel in Pune's Vadgaon Sheri for ₹250 crore. Documents registered on February 4 reveal a stamp duty payment of ₹17.5 crore for this transaction. The sellers are identified as Kumar City Co-operative Housing Society Ltd. and Kumar Urban Development Private Ltd.
An agreement to sell typically precedes a final conveyance deed, signifying the buyer's intent to complete the purchase. Such agreements are common in large land deals requiring due diligence and approvals. Vadgaon Sheri, near Kalyani Nagar and the Pune airport, has become a sought-after micro-market due to its connectivity to office clusters like Kharadi and Yerwada.
This locality's appeal is enhanced by its proximity to IT and business districts, supporting demand for mid-income and premium housing. The increasing interest from developers is fueled by redevelopment potential and the availability of sizeable land parcels within the city limits, enabling them to secure land banks for future projects.
