Rising Sun Holdings Private Limited (RSHPL), owned by billionaire Adar Cyrus Poonawalla, has made waves in the real estate market with its recent acquisition of 1.75 lakh square feet of commercial office space in Pune for a whopping ₹395 crore. This strategic move highlights RSHPL’s commitment to investing in prime locations.
The newly acquired office space is situated within the Cerebrum IT Park in Pune’s Kalyani Nagar area, spanning four floors in Building B1 with a total built-up area of 2.19 lakh square feet. In addition, the deal includes parking provisions for 218 cars in the basement units of both Buildings B1 and B2.
RSHPL, established in 1993, operates as the investment holding company of the Cyrus Poonawalla Group, with Adar Poonawalla at the helm. As the CEO of the Serum Institute of India, Adar Poonawalla’s majority stake in RSHPL further solidifies the Poonawalla family’s influence in healthcare and real estate sectors.
The transaction for the office space in Cerebrum IT Park was finalized through four separate deals, officially registered on September 11, with Zavareh Soli Poonawalla, businessman and brother of Cyrus S. Poonawalla, listed as the seller. The deal incurred a stamp duty of ₹27.65 crore and a registration fee of ₹1.2 lakh.
With this significant acquisition, Rising Sun Holdings is poised for expansion in the Pune real estate market, showcasing Adar Poonawalla’s strategic investment approach. The property’s location and size indicate promising potential for growth, in line with prevailing trends in India’s commercial real estate sector. Stay tuned for updates on any responses from Zavareh Soli Poonawalla as they unfold.
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