Panchshil Realty's subsidiary, Wagholi Estates, sold a 4.8-acre land parcel in Pune's Wagholi to Vilas Javdekar Infinitee Developers for over INR 103 crore. The land is part of Panchshil's 4.5 million sq ft IT park project, with 1 million sq ft designated for residential development in this mixed-use layout. Registered on October 21 with a stamp duty of INR 7.21 crore, the transaction highlights growing demand for land in high-growth areas like Pune. As major cities such as Mumbai, Chennai, and Bengaluru expand, developers and investors are actively pursuing land for new residential, commercial, and mixed-use projects.
Wagholi Estates, an entity affiliated with Panchshil Realty, has completed the sale of a prime 4.8-acre land parcel in Pune's Wagholi area to Vilas Javdekar Infinitee Developers for over INR 103 crore. This land is part of a larger area where Panchshil Realty is undertaking the development of a 4.5 million sq ft IT park. A representative from Panchshil Realty confirmed that around 1 million sq ft of residential potential, spread across nearly five acres within the larger layout, was sold as part of this mixed-use project, which includes both residential and commercial spaces.
According to documents obtained through realty data analytics firm Propstack, the buyer paid a stamp duty of INR 7.21 crore for registering the transaction, which took place on October 21. Wagholi Estates, a wholly owned subsidiary of Panchshil Realty Developers and controlled by the family of Panchshil Group chairman Atul Chordia, was initially incorporated in May 1993 as Shahenshah Properties before being renamed in April 2024. Originally involved in the operation and maintenance of a fashion boutique for garments and accessories, the company entered the real estate development sector in 2023-24.
Wagholi, located in eastern Pune, is known for its industrial growth and has become a prominent area for residential developments. The locality offers easy access to the IT hub in Kharadi, strong connectivity to Pune Airport and other city areas, along with affordable property prices. Across India's major real estate markets, including cities like Mumbai, Pune, Chennai, Hyderabad, and Bengaluru, transactions involving land parcels are gaining momentum. These deals include both outright purchases and joint ventures as developers and investors seek prime locations for upcoming projects.
Numerous transactions have already been completed, with others nearing the final stages of negotiation, highlighting the high demand for land in these rapidly growing urban centers. This rising interest in land acquisitions is fuelled by the increasing demand for residential, commercial, and mixed-use developments as these cities expand, drawing both domestic and international investments.
The recent sale of a 4.8-acre land parcel in Pune's Wagholi by Panchshil Realty's Wagholi Estates underscores the strong interest in high-potential urban land across India. This deal, supporting Panchshil's larger IT park project and mixed-use development, highlights how developers are strategically positioning themselves in growing hubs like Pune. Cities such as Mumbai, Chennai, and Bengaluru are seeing similar trends, with land transactions accelerating to meet the rising demand for residential and commercial spaces. As domestic and foreign investments pour in, the momentum behind land acquisitions reflects broader urban expansion and the evolving needs of these fast-developing markets.
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