For Rs 134 crore, Titania Industrial Development in Pune bought a 1 lakh-square-foot structure and a 13.26-acre tract of land from Tata Autocomp Systems.
The transaction was registered on 27-10-2023
Tata Autocomp Systems Ltd sold Titania Industrial Development in Maan, Pune, a land block spanning more than 13.26 acres and the structure existing on it, measuring 1 lakh sq ft, for Rs 134 crore, according to the documents accessed by real estate data analytics firm CRE Matrix.
“In recent years, Pune real estate has been on a roll.” The city has seen an increase in real estate purchases in the last two years, along with a few corporate lease agreements, one of which involved Tesla. Manufacturing and storage industries have drawn industrial occupants to Pune’s PCMC region. Major IT/ITeS brands, hotels, manufacturing, and residential buildings are located in Hinjewadi. “It’s not surprising that the deal happened in Hinjewadi, Pune’s growth corridor,” said Abhishek Kiran Gupta, co-founder and CEO of IndexTap and CRE Matrix.
In Q3, India’s net absorption of office space reached 10.37 million square feet, the most in the previous eighteen months. In the third quarter, gross leasing activity was dominated by the industrial sector, with technology enterprises having a relatively limited presence. The top seven cities had higher net absorption of office space during the quarter, with the exception of Chennai and Kolkata. With a 26.1 percent share, Hyderabad was first, followed by Bengaluru (22.9%) and Delhi-NCR (16.4%).
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