In a recent real estate transaction, automaker Mahindra & Mahindra Ltd has sold a 20.5-acre land parcel in Kandivali (East), Mumbai, to Pune-based developer Blueprintify Properties for a whopping ₹210 crore. According to property registration documents obtained by real estate analytics firm CRE Matrix, the deal was finalized on July 24.
The buyer, Blueprintify Properties, paid a hefty stamp duty of over ₹13 crore for the acquisition. The company, which is associated with the Rucha Group of companies in Pune, specializes in real estate development and land aggregation services.
The significance of this sale lies in the fact that the Kandivali land parcel houses one of Mahindra & Mahindra’s oldest manufacturing facilities. The area is known for its large-scale housing projects and integrated developments such as Thakur Village, making it a prime location for real estate development.
This transaction highlights the dynamic nature of Mumbai’s real estate market and the increasing interest from developers in acquiring prime land parcels in the city. With the potential for development in Kandivali and its surroundings, the acquisition by Blueprintify Properties could lead to the creation of new projects in the region, potentially reshaping the local real estate landscape.
Thanks For Reading Report of Punepress.com