Macrotech acquires land in Pune for Rs 110 crore from Paranjape Schemes
ECONOMY & POLICY

Macrotech acquires land in Pune for Rs 110 crore from Paranjape Schemes

Macrotech Developers, the Mumbai-based real estate giant also known as Lodha Group, has acquired a 2.82-acre land parcel in the Hinjewadi area of Pune for Rs 110 crore. The deal, finalized on October 14, was made with Paranjape Schemes Construction Limited, a Pune-based developer, as the seller. The transaction documents, accessed by CRE Matrix, reveal that Lodha paid a stamp duty of Rs 6.64 crore and a registration fee of Rs 30,000.

Located in the Hinjewadi micro-market, a prominent IT hub in Pune with access to the Mumbai-Pune Expressway, the land parcel also includes a special economic zone (SEZ) component. The area is known for its robust real estate activity, with apartment prices around Rs 10,000 per square foot and Grade A office space rentals between Rs 50-60 per square foot, according to local brokers.

This acquisition marks a strategic move for Lodha in Pune, which follows its previous projects in the city, including Lodha Belmondo near the Mumbai Pune Expressway and a project in Kharadi launched last year. Additionally, in January 2024, Lodha had announced the acquisition of a 100% stake in Goel Ganga Ventures India Private Limited (GGVIPL), another Pune-based firm.

The broader Pune real estate market has seen a dip in property registrations, with a 33% year-on-year (YoY) decrease in September 2024 compared to the same period last year. Macrotech’s managing director and CEO, Abhishek Lodha, recently stated that the company has successfully completed its pilot phase in Bengaluru and aims to capture a 15% market share in the city by the end of the decade.

Macrotech Developers, the Mumbai-based real estate giant also known as Lodha Group, has acquired a 2.82-acre land parcel in the Hinjewadi area of Pune for Rs 110 crore. The deal, finalized on October 14, was made with Paranjape Schemes Construction Limited, a Pune-based developer, as the seller. The transaction documents, accessed by CRE Matrix, reveal that Lodha paid a stamp duty of Rs 6.64 crore and a registration fee of Rs 30,000. Located in the Hinjewadi micro-market, a prominent IT hub in Pune with access to the Mumbai-Pune Expressway, the land parcel also includes a special economic zone (SEZ) component. The area is known for its robust real estate activity, with apartment prices around Rs 10,000 per square foot and Grade A office space rentals between Rs 50-60 per square foot, according to local brokers. This acquisition marks a strategic move for Lodha in Pune, which follows its previous projects in the city, including Lodha Belmondo near the Mumbai Pune Expressway and a project in Kharadi launched last year. Additionally, in January 2024, Lodha had announced the acquisition of a 100% stake in Goel Ganga Ventures India Private Limited (GGVIPL), another Pune-based firm. The broader Pune real estate market has seen a dip in property registrations, with a 33% year-on-year (YoY) decrease in September 2024 compared to the same period last year. Macrotech’s managing director and CEO, Abhishek Lodha, recently stated that the company has successfully completed its pilot phase in Bengaluru and aims to capture a 15% market share in the city by the end of the decade.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code