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

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Infrastructure Energy

25 Jun 2026

Centre Prioritising Energy Security With Coal Gasification

Union minister for Coal and Mines G Kishan Reddy said the Centre is prioritising energy security through a strategic shift to coal gasification and has announced incentives totalling Rs 460 billion (bn) to support the effort. He said more than 35 companies will start coal gasification activities in India within two months and that the government is encouraging firms that bring technology to close the domestic technology gap. The minister described the initiative as aimed at reducing import dependence and developing indigenous capacity. India has the fifth-largest coal reserve in the world, and..

Infrastructure Urban

25 Jun 2026

BHEL and Coal India Invest Rs 250 bn in Odisha Gasification

Bharat Heavy Electricals (BHEL) and Coal India (CIL) are jointly investing Rs 250 billion in a coal gasification project in Odisha, with the Prime Minister laying the foundation stone in Jharsuguda. Union Coal and Mines Minister G Kishan Reddy described the initiative as a transformative shift in coal utilisation that will open industrial avenues for the state. The project moves coal beyond conventional power generation to industrial feedstocks. Coal gasification will convert coal into synthesis gas, a versatile feedstock for chemicals, fertilisers and synthetic fuels, and the technology is ex..

Infrastructure Energy

25 Jun 2026

BCCL Hands Over Dugdha Coal Washery To JSW Steel

Bharat Coking Coal has handed over the Dugdha Coal Washery to JSW Steel, marking the first coal washery asset monetisation under the Ministry of Coal's asset monetisation programme. The handover took place in the presence of senior officials from Bharat Coking Coal Ltd, JSW Steel and JSW Energy. The washery has a capacity of two million tonnes per annum (mn t per annum), and its transfer is intended to introduce private sector practices into coal beneficiation operations. The monetisation is aimed at modernising coal sector assets, improving operational efficiency and enhancing resource utilis..