Solitaire Group Secures Nearly 10 Acres in Pune’s Wagholi for INR 129 Crore

In a significant move, Solitaire Group, a renowned real estate developer based in Pune, has acquired a prime 10-acre land parcel in the Wagholi locality through its group entity Westcon Spaces Pvt. Ltd. The deal, valued at over INR 129 crore, was finalized through four separate transactions, all of which were officially registered on February 6.

Largest Transaction Worth INR 50 Crore

Among these acquisitions, the biggest transaction involves a 5-acre land parcel, purchased for INR 50 crore. This particular deal also incurred a stamp duty of INR 3.50 crore, as per property documents sourced from Propstack.

Additional Land Purchases in Wagholi

The second-largest deal includes a 4-acre plot, for which Solitaire Group paid INR 40 crore, along with a stamp duty fee of INR 2.80 crore. The remaining two plots, each spanning half an acre, were acquired for INR 28 crore and INR 11 crore, attracting stamp duty charges of INR 1.96 crore and INR 77 lakh, respectively.

Solitaire Group Maintains Silence on the Acquisition

Despite the scale of this acquisition, Solitaire Group has chosen not to comment on the development. The purchase reflects the company’s strategic expansion plans, reinforcing its commitment to Pune’s growing real estate market.

Land Transactions Gaining Momentum Across Key Cities

The residential real estate sector is witnessing a significant upcycle, driving an increase in land transactions across Mumbai, Pune, Chennai, Hyderabad, and Bengaluru. Developers are actively acquiring land parcels either through outright purchases or joint ventures, signaling a strong demand for new residential projects.

Developers Ramping Up Residential Projects

With the current real estate boom, companies are capitalizing on available land parcels to meet the rising demand for housing. Many developers, including Solitaire Group, are securing plots either from their existing land banks or through fresh acquisitions, positioning themselves for future growth in India’s booming residential market.

Key Highlights

• Solitaire Group acquires nearly 10 acres in Pune’s Wagholi for INR 129 crore.
• Largest transaction involves a 5-acre parcel valued at INR 50 crore with a stamp duty of INR 3.50 crore.
• A 4-acre plot was purchased for INR 40 crore, incurring a stamp duty fee of INR 2.80 crore.
• Two half-acre plots were acquired for INR 28 crore and INR 11 crore, with stamp duty charges of INR 1.96 crore and INR 77 lakh, respectively.
• Real estate land transactions are accelerating across major metro cities, driven by strong housing demand.
• Developers are actively securing land through outright acquisitions and joint ventures to expand residential projects.

Source: Link…