The Prestige Group Buys 4.57 Acres In The Kharadi Area Of Pune For Rs. 200.20 Crores

The Prestige Group, the prominent Bangalore-based real estate company, has bought 4.57 acres of land in Kharadi, Pune. The deal was finalized recently for Rs. 200.20 crores. The land has been purchased from Anuj Bhandari of BU Bhandari M&M Realtors. The builder intends to build a modern business park in the area.

Prestige Exora Business Parks, a subsidiary of the Prestige Group, executed the land deal. The stamp duty paid by the company was Rs. 14 crores for the sale. The builder paid the seller Rs. 198 crores. The sale of the property was registered on April 16, 2024. CRE Matrix, the real estate analytics company, shared the details of the transaction.

Pune has grown a lot in the recent past and is now one of the best-liked places in the country to work and live. The Kharadi neighborhood is one of its most rapidly growing neighborhoods. This is thanks to Special Economic Zones (SEZs) and IT parks. The many jobs here are bringing a lot of development into the area.

Kharadi is an area in the eastern metropolitan area of Pune. It is now an important tech area in the city. There are the offices of many big IT companies here. There are many new business parks being developed here. There are bringing in more and more businesses into the area.

The real estate market of Pune has seen a lot of growth. There has been an overall 25% increase in the registrations of properties. The new business park that will be built by the Prestige Group in the area will add to its overall growth. It will bring a lot of modern infrastructure into it.

The park is part of the Prestige Group’s plan to enter the real estate market of Pune. The builder has also entered other cities in Maharashtra, such as Mumbai, in the past year. It has shared its plans to build a housing project of over 1 million square feet in Pune. A formal announcement about the same is due.

The investment shows the company’s confidence in the property market here. It also speaks highly about the significance of the city and its potential for growth. The sale will greatly boost the city's real estate. It is expected to help it to grow and develop even more.

Prestige Group prelaunch apartment is Prestige Raintree Park.