Realty developer K Raheja Corp’s subsidiary, KRC Queens, has purchased a significant 7.43-acre land parcel in Pune’s Mahalunge locality from Mahalunge Real Estate Developers for approximately ₹200 crore.
The acquisition holds the potential for 1.7 million sq ft of built-up area, marking it as one of the largest land purchases in Pune’s western corridor in recent months.
The Mumbai-based company has also paid a stamp duty of ₹13.67 crore for the registration of the deal, which was finalized on July 21, as per documents sourced through CRE Matrix, a real estate data analytics platform.
Located in Mahalunge, part of the Maan-Mahalunge micro-market along the Hinjewadi-Balewadi growth corridor, this plot has attracted attention from major developers due to its proximity to the IT hub of Hinjewadi, upcoming metro links, and expanding civic infrastructure.
This transaction reflects ongoing confidence among real estate developers in Pune’s residential and commercial market, particularly in emerging corridors that are seeing strong demand from homebuyers and businesses.
KRC Queens, the acquiring entity, is part of the K Raheja Corp group, which oversees a diverse portfolio that includes commercial offices, retail spaces, hospitality, and residential projects across key Indian cities.
With this purchase, the company aims to enhance its influence in the Pune market, which has emerged as a bustling real estate hub in recent quarters.
Experts in the industry suggest that the 1.7 million sq ft development potential offers the buyer flexibility to explore various asset classes according to market demand.
RealtyDailyNews’s email inquiry to K Raheja Corp went unanswered at the time of publication.
Pune’s housing market is experiencing strong growth, driven by robust economic activity, infrastructure development, and evolving expectations among homebuyers. Property values in the city have increased by around 15% over the past year, surpassing national trends.
Key infrastructure projects like the Pune Metro and Ring Road have been instrumental in bolstering real estate demand in areas such as Hinjewadi, Wakad, Baner, and Balewadi, along with emerging suburban locales like Punawale, Ravet, and Wagholi.
