{"id":1824,"date":"2026-02-27T12:17:01","date_gmt":"2026-02-27T06:47:01","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=1824"},"modified":"2026-03-04T13:13:02","modified_gmt":"2026-03-04T07:43:02","slug":"merlin-group-acquires-3-3-acre-land-near-punes-koregaon-park-for-rs-273-crore","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/merlin-group-acquires-3-3-acre-land-near-punes-koregaon-park-for-rs-273-crore\/","title":{"rendered":"Merlin Group Acquires 3.3-acre land near Pune\u2019s Koregaon Park for Rs 273 crore"},"content":{"rendered":"\n<p>Merlin Group has acquired a 3.26-acre land parcel in Mundhwa, near Koregaon Park in Pune, for \u20b9273 crore. The deal strengthens the developer\u2019s presence in western India and signals its growing focus on commercial real estate in high-demand micro-markets.<\/p>\n\n\n\n<p>The transaction was registered on February 20. The buyer paid a stamp duty of \u20b919.11 crore, according to documents accessed via <a href=\"https:\/\/www.crematrix.com\/\">CRE Matrix<\/a>.<\/p>\n\n\n\n<h3><strong>Office-Led Commercial Project with \u20b91,000 Crore Investment<\/strong><\/h3>\n\n\n\n<p>Merlin Prime Spaces, a subsidiary of the Kolkata-based developer, will develop an office-led commercial project on the site. The company plans to invest over \u20b91,000 crore in total, including the land cost. Out of this, nearly \u20b9800 crore will go toward construction, development, and associated project expenses. The project is expected to have a commercial value of around \u20b93,000 crore upon completion, owing to strong tenant demand and the prominence of the location<\/p>\n\n\n\n<p>While exact designs are still being worked out, Merlin Group has stated that the site would be used to build a large-format commercial project. According to industry opinion and market sources, the development is intended to address:<\/p>\n\n\n\n<ul><li>Office occupiers<\/li><li>BFSI businesses (Banking, Financial Services, and Insurance)<\/li><li>Global Capability Centers (GCC)<\/li><\/ul>\n\n\n\n<p>With this focus, the project is projected to capitalize on Pune&#8217;s growing office leasing demand and appeal to corporations seeking superior workspace options.<\/p>\n\n\n\n<h3><strong>Strengthening Presence in Pune<\/strong><\/h3>\n\n\n\n<p>Merlin Group entered Pune in 2021 and has steadily expanded its footprint in the city. The company is currently developing three projects across segments.<\/p>\n\n\n\n<p>These include one commercial project, one mixed-use development, and one premium residential project. Together, they account for nearly 1 million sq ft of development.<\/p>\n\n\n\n<p>The developer also plans to launch another commercial project in Baner. At the same time, it is evaluating opportunities in Navi Mumbai to strengthen its western India portfolio.<\/p>\n\n\n\n<h3><strong>Why Mundhwa\u2013Koregaon Park Is Attracting Developers<\/strong><\/h3>\n\n\n\n<p>The Joregaon\u2013Mundhwa belt has seen rising developer interest in recent years. Its proximity to established employment hubs such as Kharadi, Magarpatta, and Hadapsar continues to drive both commercial and residential demand.<\/p>\n\n\n\n<p>Improved connectivity and expanding social infrastructure have further enhanced the micro-market\u2019s appeal. Organised developers are actively acquiring land here to replenish their pipelines.<\/p>\n\n\n\n<p>Large-scale transactions in this corridor often signal upcoming commercial or mixed-use projects. Steady land deals in Pune reflect sustained developer confidence in the city\u2019s long-term growth trajectory.<\/p>\n\n\n\n<h3><strong>Recent Land Transactions in Pune<\/strong><\/h3>\n\n\n\n<p>Recent land transactions in Pune reflect steady developer confidence across key micro-markets. Acquisitions in established and emerging corridors signal plans for residential, commercial, and mixed-use projects. Strong end-user demand, improving infrastructure, and employment growth continue to drive strategic land buying activity in the city.<\/p>\n\n\n\n<p>In a recent transaction, <a href=\"https:\/\/www.crematrix.com\/blog\/pristine-landmark-acquires-strategic-land-parcel-in-punes-vadgaon-sheri\/\">Pristine Landmark Spaces LLP signed a deal to acquire a large 4.2-acre land parcel in Vadgaon Sheri<\/a> for \u20b9250 crore.<\/p>\n\n\n\n<p>Elevate your decisions in real estate as a developer or broker with CRE Matrix\u2018s data-driven insights.&nbsp;<a href=\"https:\/\/www.crematrix.com\/#schedule_demo\">Book a demo now<\/a>!<\/p>\n\n\n\n<h3><strong><em>Media Mentions<\/em><\/strong><\/h3>\n\n\n\n<ul><li><strong>The Economic Times:<\/strong> <a href=\"https:\/\/economictimes.indiatimes.com\/industry\/services\/property-\/-cstruction\/merlin-group-acquires-3-3-acre-land-near-punes-koregaon-park-for-rs-273-crore\/articleshow\/128818234.cms?from=mdr\" rel=\"nofollow\">Merlin Group acquires 3.3-acre land near Pune\u2019s Koregaon Park for Rs 273 crore<\/a>.<\/li><li><strong>Hindustan Times: <\/strong><a href=\"https:\/\/economictimes.indiatimes.com\/industry\/services\/property-\/-cstruction\/merlin-group-acquires-3-3-acre-land-near-punes-koregaon-park-for-rs-273-crore\/articleshow\/128818234.cms?from=mdr\" rel=\"nofollow\">Merlin Prime Spaces expands footprint with \u20b9273 crore land acquisition in Pune<\/a>.<\/li><li><strong>RealtynInfra: <\/strong><a href=\"https:\/\/realtyninfra.in\/merlin-group-buys-3-2-acres-of-land-in-pune-for-rs-273-crore\/\" rel=\"nofollow\">Merlin Group buys 3.2 acres of land in Pune for Rs 273 crore<\/a>. <\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Merlin Group has acquired a 3.26-acre land parcel in Mundhwa, near Koregaon Park in Pune, for \u20b9273 crore. The deal strengthens the developer\u2019s presence in western India and signals its growing focus on commercial real estate in high-demand micro-markets. The transaction was registered on February 20. The buyer paid a stamp duty of \u20b919.11 crore, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.crematrix.com\/blog\/merlin-group-acquires-3-3-acre-land-near-punes-koregaon-park-for-rs-273-crore\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Merlin Group Acquires 3.3-acre land near Pune\u2019s Koregaon Park for Rs 273 crore&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1885,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[147],"tags":[152,157,13,4],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Merlin Group Acquires 3.3-Acre Land in Pune\u2019s Koregaon Park for \u20b9273 Crore<\/title>\n<meta name=\"description\" content=\"Merlin Group acquires a 3.3-acre land parcel near Koregaon Park, Pune, for \u20b9273 crore. 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