Pune-Based Developer Amar Builders Acquires 13.22 Acres of Land for ₹300 Crore

Citycon Infratech LLP, an entity linked to Pune-based real estate developer Amar Builders, has acquired about 13.22 acres of land in Mundhwa, Pune, for Rs 300 crore.

According to transaction-related documents accessed via Propstack, a real estate data analytics firm, the land parcel has been purchased from members of the Irani family, including Minocher Ardeshir Irani and Dara Ardeshir Irani. The transaction was registered on February 26, 2026.

The total land area measures 53,519.76 square metres (around 13.22 acres), translating to roughly Rs 22.7 crore per acre. The ready reckoner value of the land stood at Rs 239.86 crore.

Citycon Infratech LLP is led by Amar Manjrekar, managing director of Amar Builders, and Hrishikesh Manjrekar, executive director of Amar Builders. Amar Builders’ portfolio features real estate offerings across residential, commercial, information technology, hospitality, industrial, and healthcare sectors, the company’s website shows. It has completed 87 projects spanning 14 million square feet across the sectors.

Pune’s residential real estate market sustained its upward trajectory in 2025 with the launch of 43,795 units, marking a 5 per cent year-on-year (YoY) increase, according to a report by Cushman & Wakefield. The growth was led by the high-end and luxury segment, which saw its share rise by approximately 12 per cent YoY, accounting for nearly 48 per cent of the total launches.

However, according to Anarock, in 2025, housing sales in Pune stood at 65,135 units, down 20 per cent YoY, in line with the average sales trend across the top Indian cities.

According to the latest available data collated by Knight Frank India, Pune recorded 14,527 property registrations in January 2026, generating over Rs 609 crore in stamp duty revenue for the state. Registrations saw a decline of 17 per cent YoY compared to January 2025, while stamp duty collections declined 5 per cent YoY.