Merlin Prime Spaces Acquires 13,185 sq m Land in Pune for ₹273 Crore

Merlin Prime Spaces Private Limited, a subsidiary of the Kolkata-based real estate developer Merlin Group, has acquired a 13,185 sq metre land parcel in Pune’s Mundhwa area near Koregaon Park, for ₹273 crore. This strategic acquisition is expected to bolster the company's presence in one of Pune’s most promising real estate corridors.

The transaction was executed through a sale deed registered on February 20, 2026. The seller of the land parcel is Shridhar Nandlal Pittie, as indicated in the registration documents accessed by CRE Matrix. The acquisition attracted a stamp duty payment of ₹19.11 crore, further underlining the significant value of the deal.

Mundhwa has emerged as one of Pune’s most active real estate corridors due to its proximity to Kharadi’s IT hub, Hadapsar, and Koregaon Park. This location makes it highly attractive for both residential and mixed-use developments. The area’s strategic location and growing infrastructure have made it a focal point for real estate investors and developers.

In recent years, Mundhwa has seen a surge in real estate activity, with several major players making significant investments. The acquisition by Merlin Prime Spaces is a testament to the area’s potential and the company’s commitment to expanding its portfolio in high-growth regions.

Earlier, Godrej Properties acquired an 8.5-acre land parcel in Pune’s Mahalunge area, where it plans to build a housing project with an estimated revenue of ₹2,000 crore. The project will have a development potential of 2.1 million sq ft, according to the company. This development further highlights the growing interest in Pune’s real estate market.

Pune-based real estate developer Pristine Landmark Spaces LLP has also been active in the market. The company recently purchased a land parcel of over 16,000 sq mtrs in Pune's Vadgaon Sheri for ₹250 crore. The documents show that the land parcel, measuring 16,861 sq mtrs, was sold jointly by Kumar City Co-operative Housing Society Ltd and Kumar Urban Development Private Ltd. The transaction was registered on February 4, 2026, with a stamp duty of ₹17.50 crore and a registration fee of ₹30,000.

The real estate market in Pune has seen significant land deals in recent years, with at least 126 land deals covering over 3,772 acres closed across seven top cities in 2025. The Mumbai Metropolitan Region (MMR) led the activity with 32 deals spanning 500 acres, followed by Bengaluru with 27 deals spanning 454 acres, and Pune with 18 deals spanning more than 308 acres, according to an Anarock analysis.

Among tier-2 and tier-3 cities, Ahmedabad topped with 3 deals covering 603 acres, while Amritsar, Mysore, Nagpur, and Vadodara saw two deals each. Of the total, over 96 deals for approximately 1,877 acres were proposed for residential development, including plotted developments, township projects, and luxury villas.

In the top 7 cities, MMR saw the highest land area transacted with more than 500 acres in 32 separate deals, accounting for over 13 per cent share of the total land transacted across India in 2025. The planned developments include residential, commercial, industrial, data centre, and plotted developments.

Bengaluru sealed 27 separate deals, accounting for a 12 per cent share of the total land area transacted in 2025, with more than 454 acres changing hands for various residential developments, including villas and plotted developments, as well as commercial and warehousing developments.

Pune saw 18 separate deals closed, totalling 308.49 acres, proposed for residential, mixed-use, township, retail, and industrial and logistics park developments. The increasing activity in Pune’s real estate market reflects the city’s growing economic and infrastructural significance, making it a prime location for future investments.