Westcon Space Pvt Ltd Acquires Land in Wagholi, Pune for ₹129 Crore

Westcon Space Pvt Ltd, a subsidiary of Solitaire Group, has acquired approximately four hectares (10 acres) of land in Wagholi, Pune, for ₹129 crore. The transaction was completed on February 6, 2025, through four separate agreements. The total stamp duty paid for the acquisition was over ₹9 crore, with an additional registration fee of ₹1.20 lakh.

According to property registration documents accessed through Propstack.com, the land was sold by the Shitale family and two individuals, Anuradha NDD and Jaymala Navkishore. Despite efforts to reach them, neither the sellers nor representatives from Westcon Space Pvt Ltd provided any comments on the transaction.

Wagholi, located in the northeastern part of Pune, has emerged as a real estate hub due to its proximity to Kharadi, a key IT and business district. The area has seen an increase in real estate activity, driven by demand from professionals working in the IT sector. Kharadi is home to several multinational corporations, technology firms, and commercial establishments, making Wagholi a preferred residential destination for those seeking affordable housing options near their workplaces.

As per Hindustan Times, Local real estate brokers indicate that the current market rate for residential apartments in Wagholi is approximately ₹10,000 per square foot. Rental prices for a 2 BHK apartment in the area range between ₹20,000 and ₹30,000 per month. Over the past few years, Wagholi has attracted multiple developers, leading to the construction of residential projects, commercial spaces, and mixed-use developments.

Infrastructure improvements, including road expansions and better connectivity to Pune’s central business districts, have further contributed to the area’s appeal. The Pune Municipal Corporation has been working on upgrading civic amenities in Wagholi, addressing issues such as water supply, waste management, and road conditions.

Land Transactions Increasing in Pune

The acquisition by Westcon Space Pvt Ltd is part of a broader trend of rising land transactions in Pune and other major metropolitan areas. In a similar development, Prestige Exora Business Parks Ltd, a wholly owned subsidiary of Bengaluru-based Prestige Estates, purchased a 4.57-acre land parcel in Kharadi for ₹200 crore in April 2024. The seller in that transaction was Pune-based B U Bhandari M&M Realtors LLP.

Land acquisitions in Pune have been increasing as developers seek to capitalize on the growing demand for residential and commercial properties. The city’s real estate sector has remained resilient, driven by a strong job market, expanding infrastructure, and sustained demand for housing.

Surge in Land Deals Across Major Cities

Pune’s rising land transactions reflect a national trend of increased real estate activity. According to a report by CBRE India, land deals in India surged by approximately 47% year-on-year in 2024. Over 2000 acres of land were transacted across the country’s top eight cities. A total of 135 land deals were recorded in 2024, compared to 90 in 2023.

The residential segment has been the primary driver of land acquisitions, with developers focusing on housing projects to meet the demand in urban and suburban areas. Delhi-NCR, Bengaluru, Mumbai, Chennai, and Pune have been the leading cities for such transactions. The increasing land deals indicate a positive outlook for India’s real estate sector, with developers preparing for future growth in housing, commercial, and mixed-use developments.

The acquisition of land by Westcon Space Pvt Ltd in Wagholi aligns with the ongoing expansion of Pune’s real estate market. As IT companies continue to expand in Kharadi and surrounding areas, the demand for residential and commercial spaces is expected to rise. Developers are likely to focus on integrated townships, affordable housing, and premium residential projects to cater to different segments of buyers.