{"id":1607,"date":"2024-09-04T08:11:57","date_gmt":"2024-09-04T08:11:57","guid":{"rendered":"https:\/\/www.floortap.com\/resources\/?p=1607"},"modified":"2024-09-04T08:11:58","modified_gmt":"2024-09-04T08:11:58","slug":"prestige-group-subsidiary-invests-%e2%82%b9200-crore-in-4-57-acre-pune-land-parcel","status":"publish","type":"post","link":"https:\/\/www.floortap.com\/resources\/prestige-group-subsidiary-invests-%e2%82%b9200-crore-in-4-57-acre-pune-land-parcel\/","title":{"rendered":"Prestige Group Subsidiary Invests \u20b9200 Crore in 4.57-Acre Pune Land Parcel"},"content":{"rendered":"\n

Prestige Exora Business Parks, a subsidiary of Bengaluru-based Prestige Estates, has acquired a 4.57-acre land parcel in Pune’s tech hub of Kharadi for \u20b9200 crore. This information is revealed in the registration documents accessed by CRE Matrix<\/a>.<\/p>\n\n\n\n

Transaction Details<\/strong><\/h2>\n\n\n\n

The land was purchased from Pune-based BU Bhandari M&M Realtors LLP on April 16, 2024, with a stamp duty of over \u20b914 crore. The transaction involved a payment of \u20b9198 crore through a demand draft on April 20, 2024, with a tax deducted at source (TDS) of over \u20b92 crore, bringing the total land purchase cost to over \u20b9200 crore.<\/p>\n\n\n\n

Kharadi: Pune’s Emerging Tech Hub<\/strong><\/h2>\n\n\n\n

Kharadi, along with Hinjewadi, has become a major tech center in Pune. Numerous Indian and international tech firms have established a presence in Kharadi’s commercial spaces over the past decade. Recently, even manufacturing and financial companies have started setting up their global centers there. Kharadi is home to the EON IT Park, a special economic zone owned by Panchshil and Blackstone.<\/p>\n\n\n\n

\u00bb Explore commercial properties in Kharadi<\/a><\/strong><\/p>\n\n\n\n

Growing Commercial Demand in Pune<\/strong><\/h2>\n\n\n\n

The acquisition of the 4.57-acre land parcel in Pune by Prestige Exora Business Parks highlights the growing demand for commercial real estate in the region. This significant deal reinforces Prestige Group’s position as a leading player in the Indian real estate market. With the company’s plans to launch its first residential project in Pune, the city can expect to see further development and growth in the coming years.<\/p>\n\n\n\n

Recent Land Transactions<\/strong><\/h2>\n\n\n\n

The Pune real estate market is experiencing a significant increase in land transactions due to reasons such as economic expansion, urbanization, and growing demand for residential and commercial properties. <\/p>\n\n\n\n

In a recent transaction, Tata AutoComp Systems sold more than 13 acres of land<\/a> in Pune. In another major land deal, Adani Group acquired leasehold rights of 25 acres <\/a>from Finolex for Rs 470 crore in Pune.\u00a0<\/p>\n\n\n\n

FloorTap<\/a> connects you with commercial real estate stakeholders for effective decision-making, regardless of your role as a broker, tenant, or landlord.<\/p>\n","protected":false},"excerpt":{"rendered":"

Prestige Exora Business Parks, a subsidiary of Bengaluru-based Prestige Estates, has acquired a 4.57-acre land parcel in Pune’s tech hub of Kharadi for \u20b9200 crore. This information is revealed in the registration documents accessed by CRE Matrix. Transaction Details The land was purchased from Pune-based BU Bhandari M&M Realtors LLP on April 16, 2024, with […]<\/p>\n","protected":false},"author":1,"featured_media":1609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[15],"tags":[66],"class_list":["post-1607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-land-transactions"],"yoast_head":"\nPrestige Group Subsidiary Invests \u20b9200 Crore in 4.57-Acre Pune Land Parcel<\/title>\n<meta name=\"description\" content=\"Prestige Group subsidiary has invested \u20b9200 Crore in a 4.57-acre land parcel in Pune. 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