Pune, ANAROCK Group has announced the sale of a 5.76-acre land parcel on Wellesley Road in Sangamwadi, Pune. Sudarshan Chemical industries, a leading global player of colour and effect pigments, has sold this land to Birla Estates Private Limited, the real estate arm of the Aditya Birla Group housed under Century Textiles and Industries Limited. The deal was concluded on 6th April, 2023.
Commenting on this land deal, Mr. Rajesh Rathi â€“ Managing Director, Sudarshan Chemical Industries Limited, says, â€œWe are glad to have been able to monetize our unutilized land situated at Wellesley Road in Sangamwadi, Pune. This deal would not have been possible without our partners ANAROCK Group, a leading independent real estate services firm, and M/s. Crawford Bayley & Co. a leading solicitorâ€™s firm and legal advisors to the transaction. This land has been pivotal in the transformation of Sudarshan and many of our technologies were first developed here. We are happy that the land has been bought by a reputed group and are confident that it will flourish under them. The proceeds from the sale will be used to strengthen our balance sheet."
Anuj Puri, Chairman – ANAROCK Group, says, "This is a significant land deal which once again underscores Pune's importance as a preferred residential real estate destination. Only recently, ANAROCK concluded another land transaction for 12.5 acres in Wagholi. The timing of this sale is impeccable. Driven by the ceaseless demand for high quality real estate in the city, leading developers have been on a land acquisition spree."
This acquisition comes at a time when Puneâ€™s real estate market is breaking all previous records, with high-end housing stealing the show. Q1 2023 housing sales data by ANAROCK indicates that of a total of 1.14 lakh units sold across top 7 cities in Q1 2023, approx. 24% were in the high-ticket segment priced >INR 1.5 Cr. MMR and Pune accounted for a massive 48% of the overall sales in the quarter, with Pune recording an annual sales increase of 42%
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