The land, earmarked for residential development, is part of a notified integrated township project. It offers a development potential of 1.51 lakh sq metres (16.28 lakh sq ft), translating into an estimated saleable area of around 17 lakh sq ft.

KRC Queens purchased the plot from Pune-based Mahalunge Real Estate Developers Pvt Ltd. The deal involved a stamp duty payment of Rs 13.67 crore.

This acquisition further strengthens K Raheja Corp’s presence in the Pune real estate market, particularly in the high-growth Mahalunge-Hinjewadi corridor.

No official comments have been received from either K Raheja Corp or Mahalunge Real Estate Developers at the time of publication.

Previous Land Deal in Mumbai:

Earlier this year, in January 2025, K Raheja Corp entered into a separate agreement to acquire a 5.75-acre land parcel in Mumbai’s Kandivali East for Rs 466 crore. The property, located on Ashok Chakravarty Road, was purchased from Global E-Service Pvt Ltd (formerly The New Vinod Silk Mills), and includes a building named Vinod House.

These back-to-back acquisitions indicate K Raheja Corp’s aggressive land banking strategy across key urban centres. 

News source: Hindustan Times