By Varun Singh

In one of the biggest land deals in the state, a land measuring 1.01 lakh in Pune’s Haveli area took place earlier in March this year.

According to documents provided to SquareFeatIndia by Propstack the deal took place on March 29, this year.

The deal an assignment of lease concerns a land located in the jurisdiction of municipal corporation of Pimpri Chinchwad Municipal Corporation, within the Taluka Haveli, in Pune. It is the MIDC area and part of a larger land measuring 2.83 lakh sq mt.

While Microsoft Corporation Pvt Ltd is the other party which got the land on its name now, the other party is Finolex Industries Ltd.

A stamp duty of Rs 16.44 crore was paid for the registration of the assignment of lease of the Pune land.

Raja Seetharaman, Co-founder of Propstack, said, “Pune is ideal for setting up large campuses due to the availability of quality real estate affordable housing, and human resources. However, many corporates have preferred Bangalore, and recently Hyderabad for their expansions, this transaction could be the start of Pune emerging as a strong contender. I’m certain that we will have more such transactions over the next few quarters.”

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