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Lodha Group Acquires 2.82 Acres in Pune's Hinjewadi for ₹110 Crore

Mumbai-based real estate giant Macrotech Developers, also known as Lodha Group, has purchased a 2.82-acre land parcel in Pune’s rapidly growing Hinjewadi area for ₹110 crore. The deal, finalized on October 14, was recorded in property registration documents obtained by CRE Matrix.

Lodha Group Buys 2.82 Acres in Pune for ₹110 Crore
Lodha Group Buys 2.82 Acres in Pune for ₹110 Crore

The land, located in Pune’s prime information technology hub, provides excellent connectivity to the Mumbai-Pune Expressway. This acquisition strengthens Lodha’s presence in Pune, following previous developments like the Lodha Belmondo project near the expressway and a recent venture in Kharadi. Additionally, the company announced the acquisition of Goel Ganga Ventures India Private Limited earlier this year, signaling its continued expansion in the city.

The newly acquired site, which includes land designated as a Special Economic Zone (SEZ), represents a prime opportunity for future development. The stamp duty for the transaction was ₹6.64 crore, with a registration fee of ₹30,000.

Hinjewadi’s Real Estate Market Potential

With apartments in Hinjewadi fetching approximately ₹10,000 per square foot, and rental rates for Grade A office spaces ranging from ₹50 to ₹60 per square foot, the area remains a key focus for developers. Local brokers highlight the locality's appeal, given its proximity to key commercial hubs and the Mumbai-Pune Expressway.

Despite challenges in the Pune real estate market, such as a 33% YoY decline in property registrations for September 2024, the acquisition underlines Macrotech’s belief in the city’s long-term potential. The market slowdown has not deterred large-scale transactions, with over 1,700 acres of land transacted across major cities in India in 2024, according to a report by CBRE.

Lodha Group’s Expansion Plans

Abhishek Lodha, Managing Director and CEO of Macrotech Developers, recently mentioned that the company has successfully concluded its pilot phase in Bengaluru, aiming for a 15% market share in the city by the end of the decade. Lodha’s ambitious expansion strategy across major urban centers, including Pune, underscores its commitment to capturing significant market share in India’s competitive real estate sector.

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