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

18 Nov 2024 CW Team

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.

Infrastructure Transport

15 Oct 2025

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..