Cricketer Sachin Tendulkar has purchased a land parcel exceeding 3.9 acres in the hill station of Lonavala through three separate transactions, documented with distinct conveyance deeds, for a total of Rs 70 crores.
The transactions, which were registered on September 4, encompass a total area of 15,601.78 square meters, equivalent to approximately 1.68 lakh square feet, distributed across four City Survey (CTS) numbers in the H ward of Lonavala.
The most substantial transaction, valued at Rs 63.69 crore, pertains to land spanning roughly 3.09 acres. This parcel includes an existing built-up structure measuring around 2,100 square feet. The effective transaction rate for this segment amounts to approximately Rs 4,735 per square foot.
The other two conveyance deeds involve Tendulkar acquiring a 50% undivided interest in two additional parcels. One transaction, priced at Rs 4.56 crore, encompasses 2,302.27 square meters of land, while the third, valued at Rs 1.75 crore, covers 803.93 square meters. Collectively, these represent about 0.77 acres of transacted interest, as indicated by the registration documents obtained through Zapkey.
The average effective rate across the three transactions is approximately Rs 4,168 per square foot, calculated based on the total area transacted. The rate for the undivided interest in the latter two parcels is approximately Rs 1,888 per square foot.
Tendulkar has incurred a stamp duty of around Rs 4.20 crore on these transactions.
Lonavala, situated in the Pune district of Maharashtra, is a well-known second-home and holiday destination within the Mumbai-Pune region, consistently attracting investments in luxury villas, plotted developments, and vacation homes over an extended period.
This transaction reflects the increasing interest among high-net-worth individuals and celebrities in acquiring large land parcels and second-home properties in the area, which benefits from its proximity to both Mumbai and Pune, as well as its established leisure market.
Affluent individuals and wealthy investors are increasingly exploring land parcels in well-established second-home locations, aiming for larger plots and enhanced flexibility to construct bespoke residences.
Locations like Lonavala, Alibaug, Goa, and hill stations near major urban centers have become favored markets, bolstered by improved connectivity and a rising demand for high-end leisure properties.
