Pune-based realty developer Solitaire Group has acquired a land parcel spread over nearly 10 acres in Pune’s Wagholi locality through its group entity Westcon Spaces Pvt ltd. for over Rs 129 crore.
The company has acquired the land parcels through four separate transactions that were concluded and registered on February 6.
Of these, the largest transaction is for a land parcel spread over nearly 5 acres that has been acquired for Rs 50 crore and this deal has attracted stamp duty of Rs 3.50 crore, showed the documents accessed through Propstack.
The second largest deal of these is for a land parcel spread over nearly 4 acres for which the buyer has paid the consideration of Rs 40 crore and stamp duty charges of Rs 2.80 crore.
The other two transactions are for half an acre each. These plots have been bought for Rs 28 crore and Rs 11 crore with stamp duty charges of Rs 1.96 crore and Rs 77 lakh, respectively.
Solitaire Group declined to comment for the story.
Transactions for land parcels have started to gather pace again with many deals including outright acquisitions and joint ventures in key property markets of Mumbai, Pune, Chennai, Hyderabad, and Bengaluru either being closed or expected to close soon.
The ongoing upcycle in the housing market segment is prompting more real estate developers to opt and propose residential developments on their land parcels that are already part of their land bank or are being acquired now.
