K Raheja Corp’s subsidiary, KRC Queens, has successfully acquired a prime land parcel of 7.43 acres located in Pune’s Mahalunge locality from Mahalunge Real Estate Developers for approximately Rs 200 crore. This land parcel possesses a development potential of 1.7 million sq ft of built-up area, positioning it as one of the significant land acquisitions in Pune’s western corridor in recent months.
The Mumbai-based company has incurred a stamp duty of Rs 13.67 crore for the registration of the transaction, which was completed on July 21, as indicated by documents obtained through CRE Matrix, a real estate data analytics platform.
The location of this plot in Mahalunge, part of the Maan-Mahalunge micro-market along the Hinjewadi-Balewadi growth corridor, has attracted increasing interest from major developers due to its proximity to the information technology hub of Hinjewadi, the forthcoming metro connectivity, and the expansion of civic infrastructure. This deal reflects the ongoing confidence of realty developers in Pune’s residential and commercial real estate market, particularly in emerging corridors that are experiencing strong demand from homebuyers and businesses.
KRC Queens, the entity making the acquisition, is a division of the K Raheja Corp group, which has developed and manages a diverse portfolio that includes commercial offices, retail, hospitality, and residential projects across key cities in India.
With this acquisition, the company is anticipated to further enhance its presence in the Pune market, which has become one of the most dynamic real estate destinations in the country in recent quarters. Industry experts assert that the development potential of 1.7 million sq ft provides the buyer with the flexibility to pursue a variety of asset classes in response to market demand.
Pune’s real estate market is experiencing significant momentum, supported by robust economic activity, growing infrastructure, and evolving homebuyer expectations. Property values in the city have increased by around 15% in the last year, surpassing the national average.
Key infrastructure initiatives such as Pune Metro and Ring Road have been instrumental in enhancing real estate demand, particularly in regions like Hinjewadi, Wakad, Baner, and Balewadi, along with developing suburban areas such as Punawale, Ravet, and Wagholi.
