Prestige Group's Subsidiary Acquires 4.57-Acre Land in Pune's Kharadi for Rs 200 Crore
Prestige Exora Business Parks, a subsidiary of the Prestige Group, has bought a 4.57-acre land parcel in Pune's tech hub of Kharadi for Rs 200.20 crore.
Prestige GroupPuneKharadiReal EstateCre MatrixReal Estate PuneSep 03, 2024
The documents identify the seller as BU Bhandari M&M Realtors LLP. The buyers paid a stamp duty of around Rs 14 crore for the transaction, the agreement for which was registered on April 16.
Kharadi is one of the two predominant technology hubs in Pune. The other being Hinjawadi in the city's western suburbs. Over the past decade, a number of large Indian and global tech firms have set up facilities across prominent commercial properties in the area.
In recent years, manufacturing and financial services firms, too, have established large global capability centres, or GCCs, in Kharadi. The area is home to a special economic zone (SEZ), called the EON IT Park, owned by the Pune-based developer Panchshil group and entities affiliated to the private equity firm Blackstone.
Residential developers have also made a beeline for the area, with prominent local and national developers having built or in the process of building large group housing projects in the area.
About Prestige Group
Prestige Group is a Bengaluru-based developer with a presence in multiple cities across India. The company has developed various residential, commercial, and hospitality projects across the country.
About CRE Matrix
CRE Matrix is a real estate data analytics firm that provides insights and data on the Indian real estate market.
About Panchshil Group
Panchshil Group is a Pune-based developer with a presence in multiple cities across India. The company has developed various residential, commercial, and hospitality projects across the country.
About Blackstone
Blackstone is a private equity firm with a presence in multiple countries across the globe. The company has invested in various sectors, including real estate, in India.
Frequently Asked Questions
Who is the buyer of the 4.57-acre land parcel in Kharadi?
Prestige Exora Business Parks, a subsidiary of the Prestige Group
How much did the buyer pay for the land parcel?
Rs 200.20 crore
Who is the seller of the land parcel?
BU Bhandari M&M Realtors LLP
What is the significance of Kharadi in Pune?
Kharadi is one of the two predominant technology hubs in Pune, with many large Indian and global tech firms having set up facilities in the area.
What is the name of the special economic zone (SEZ) in Kharadi?
EON IT Park
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