Macrotech Developers Signs ₹165.3 Cr Joint Development Agreement for Pune Plot

Macrotech Developers Ltd, also known as the Lodha Group, has entered into a joint development agreement for a 20,468 square metre land parcel located in Pune’s Wakad area, close to the Hinjewadi IT hub. The transaction, valued at ₹165.3 crore, was finalised with Goelpushp Developers LLP and Shri Balaji Ventures, according to registration documents accessed by Propstack.

The agreement includes a revenue-sharing model where Macrotech Developers will share 22.5% of the income from the project with the landowners. Additionally, a security deposit of ₹25 crore has been paid as part of the deal. Stamp duty amounting to ₹8.26 crore was also paid at the time of registration, which took place in March 2025.

The development will be carried out in collaboration with the Pune-based Goel Ganga Group, further cementing Macrotech’s presence in the growing Pune real estate market. The company, however, declined to comment on the specific details of the transaction.

This agreement marks another addition to Macrotech’s expanding footprint in Pune. Earlier this month, the company had announced the addition of two new projects in the city with a combined Gross Development Value (GDV) of ₹4,300 crore. According to the company, these additions bring its Pune portfolio to nine locations, supporting its goal of becoming a leading developer in the region.

Pune continues to attract interest from major developers due to steady demand from both residential and commercial segments. According to registration data accessed by Knight Frank, property registrations in Pune rose by 10% year-on-year, reaching 24,430 units. This contributed over ₹924 crore in stamp duty collections for the state, a 12.4% rise compared to the previous year.

The Wakad area, where the plot is located, has grown in prominence due to its proximity to Hinjewadi, a key IT corridor in Pune. The area has seen significant real estate activity over the past few years, with several residential and mixed-use projects being launched by national and regional developers.

Macrotech’s entry into Wakad through a joint development model aligns with a broader trend where developers are opting for asset-light strategies to expand in high-potential urban zones. With limited land banking and rising land prices, such agreements allow developers to enter prime locations while sharing risk and revenue with landowners.

The deal also reflects a continuing trend of large-scale real estate investment in Pune, driven by stable demand, increasing urbanisation, and infrastructure growth.

As of now, further details regarding the project timeline, unit configuration, or launch schedule have not been disclosed.