Lodha Group purchases prime land parcel in Pune

08 Aug 2022 CW Team

Lodha Group purchases a prime portion of land in Pune, a magnificent 1.10 acre block of land in Pune's Bund Garden neighbourhood from Poonawalla Constructions LLP for Rs 800 million.

Given that this is one of the highest considerations, based on per-acre cost, spent by any developer for a land tract in Pune, the deal assumes significance.

The land parcel was bought by Macrotech Developers and Home Crest Constructions, a co-investor. On July 11, the agreement was completed and registered, with Lodha paying stamp duty in the amount of Rs 56 mn.

Zavareh Poonawalla, a brother of Cyrus Poonawalla of Serum Institute, is a partner in Poonawalla Constructions, which had long held this piece of property.

The land in the area was valued at Rs 600 mn per acre when a European fund and its Indian developer partner paid Rs 1.5 bn for a 1.75 acre land lot in the same neighbourhood last year. An acre in the most recent purchase is worth approximately Rs 730 mn.

Also read:
Lodha Group plans alliances for Rs 150-bn development projects
Lodha to invest Rs 39.5 billion on sustainability

Real Estate

31 Oct 2025

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..