Titania Industrial Development in Pune purchased a 13.26-acre plot of land and a 1 lakh-square-foot Structure from Tata Autocomp Systems for Rs 134 crore. Pune’s real estate is thriving, thanks to industrial growth.
The transaction was registered on 27/10/ 2023
According to documents accessed by CRE Matrix, Tata Autocomp Systems Ltd sold Titania Industrial Development in Maan, Pune, a land block covering more than 13.26 acres as well as the structure standing on it, measuring 1 lakh sq ft, for Rs 134 crore.
“In recent years, Pune real estate has been on a roll.” In the preceding two years, the city has experienced a rise in property sales as well as a few business lease arrangements, including one with Tesla. The PCMC district in Pune has attracted industrial occupants for manufacturing and warehousing. Hinjewadi is home to major IT/ITeS brands, hotels, manufacturing, and housing developments. “It’s no surprise that the transaction took place in Pune’s growth corridor, Hinjewadi,” said Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and IndexTap.
India’s office net absorption reached 10.37 million square feet in Q3, the highest level in 18 months. The industrial sector dominated gross leasing activity in the third quarter, while technology firms remained marginally limited. Except for Chennai and Kolkata, the top seven cities saw stronger net absorption of office space during the quarter. Hyderabad took first place with a 26.1 percent share, followed by Bengaluru (22.9%) and Delhi-NCR (16.4%).
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