Wagholi Estates sells 4.8-acre land to 'Vilas Javdekar Developers' for Rs. 103 crore

Panchshil Realty associated entity Wagholi Estates sold a prime land parcel spread over 4.8 acres in Pune’s Wagoli locality to a city-based realty developer Vilas Javdekar Infinitee Developers for over Rs.103 crore.

The plot which is sold out is a part of this larger land parcel on which Panchshil Realty is developing an information technology park.

According to spokesperson of Panchshil Realty, ’We are developing a 4.5 million sq.ft IT-park-led project in Wagholi and out of this large layout,1 million sq.ft residential potential to be built over nearly 5 acres has been sold through this deal”.

“This is part of our new concept of mixed use including residential and commercial spaces”.

The buyer has already paid the stamp duty worth Rs. 7.21 crore for the registration of the transaction which took place on 21st October which shows the documents that are accessed through realty data analytics firm Propstack.

Wagholi in eastern Pune is known for its industrial developments that have emerged as the one of the key localities for residential developments. It also has accessibility to the major IT hub kharadi, which has good connectivity to Pune Airport and also to other parts of the city and the property prices are also very reasonable compared to other localities.

Transactions in land parcels that are gaining significant traction across major property markets in India specially in cities like Mumbai, Pune, Hyderabad, Chennai and Bengaluru. These include majorly both outright acquisitions and also have joint ventures such as developers and investors which looks in to prime and secure land for the new projects.