Representative ImageRealty developer Pristine Landmark Spaces LLP has signed an agreement to purchase a 4.2-acre land parcel in Pune’s Vadgaon Sheri area for Rs 250 crore.
The agreement was registered on February 4, with a stamp duty of Rs 17.5 crore.
The sellers are Kumar City Co-operative Housing Society Ltd. and Kumar Urban Development Private Ltd., as per documents obtained from CRE Matrix, a realty data analytics firm.
Typically, an agreement to sell precedes a final conveyance deed, indicating the buyer’s intent to proceed with the purchase, subject to agreed conditions, approvals, and timelines.
Such agreements are often utilized in large land acquisitions where due diligence, title clearances, and development approvals are involved.
Vadgaon Sheri, located off Nagar Road and near Kalyani Nagar, Viman Nagar, and Pune airport, has become a vibrant residential and mixed-use development area in recent years.
The area has attracted developer interest due to its connectivity to established office clusters such as Kharadi and Yerwada, along with access to essential social infrastructure.
Significant land transactions in this corridor are driven by redevelopment potential and the availability of sizable contiguous parcels within city limits. The proximity to IT and business districts has boosted demand for mid-income and premium housing projects, leading developers to acquire land banks for future developments.
