Macrotech Developers Acquires 2.8-Acre Land in Pune for Rs 111 Crore

Macrotech Developers, popularly known as Lodha, has expanded its real estate footprint by acquiring a 2.8-acre land parcel in Pune’s Hinjewadi area. The property was purchased from Paranjape Schemes Constructions for approximately Rs 111 crore and is part of a larger 120-acre integrated township being developed by Paranjape. This acquisition aligns with Lodha’s strategy to grow its portfolio in key markets.

The land parcel was previously mortgaged by Paranjape Realty Spaces, a Paranjape Schemes entity, as collateral for a loan from ASK Real Estate Special Opportunities Fund-II and III, managed by ASK Property Investment Advisors. With ASK’s no-objection certificate secured, Paranjape Schemes proceeded with the sale to Macrotech Developers.

The registration, completed on October 14, 2024, included a stamp duty payment of Rs 6.64 crore by Macrotech. This acquisition strengthens Lodha’s strategic presence in Pune’s Hinjewadi, a high-demand real estate hub, where the company can leverage the area’s growing commercial and residential market potential.

With this acquisition, Lodha aims to create additional high-value properties in Pune, enhancing the residential landscape and meeting increased housing demand in the city.