Westcon Space Pvt Ltd, a subsidiary of the Solitaire Group, has acquired around four hectares (10 acres) of land in Wagholi, Pune, for ₹129 crore. The acquisition was finalized on February 6, 2025, through four separate agreements. The total stamp duty paid amounted to over ₹9 crore, with an additional registration fee of ₹1.20 lakh.
According to property registration records accessed via Propstack.com, the land was sold by the Shitale family, along with two individuals, Anuradha NDD and Jaymala Navkishore. Despite efforts to contact the sellers and representatives of Westcon Space Pvt Ltd, no comments have been provided on the deal.
Wagholi, located in northeastern Pune, has emerged as a rapidly developing real estate hub, owing to its proximity to Kharadi, a significant IT and business district. The area has become increasingly popular among professionals working in the IT sector due to its affordability compared to nearby areas. Kharadi hosts several multinational corporations, technology companies, and commercial centers, making Wagholi a preferred residential destination for those seeking affordable housing near their workplaces.
According to local real estate brokers, the current market rate for residential apartments in Wagholi is about ₹10,000 per square foot. Rental prices for a 2 BHK apartment range between ₹20,000 and ₹30,000 per month. In recent years, Wagholi has attracted numerous developers, resulting in the construction of residential complexes, commercial spaces, and mixed-use developments.
Infrastructure upgrades, such as road expansions and improved connectivity to Pune’s central business districts, have further boosted the area’s appeal. The Pune Municipal Corporation has been focusing on enhancing civic amenities, including water supply, waste management, and road conditions.
Pune Sees Increased Land Transactions
Westcon Space Pvt Ltd’s land acquisition is part of a broader trend of rising land transactions in Pune and other major metropolitan areas. In a similar move, Prestige Exora Business Parks Ltd, a subsidiary of Bengaluru’s Prestige Estates, bought a 4.57-acre land parcel in Kharadi for ₹200 crore in April 2024. The seller in that transaction was Pune-based B U Bhandari M&M Realtors LLP.
Land acquisitions in Pune have surged as developers look to capitalize on the growing demand for both residential and commercial properties. The city’s real estate sector has remained robust, driven by a strong job market, expanding infrastructure, and consistent demand for housing.
National Surge in Land Deals
The increase in land transactions in Pune mirrors a national trend of rising real estate activity. A report by CBRE India revealed that land deals in India rose by around 47% year-on-year in 2024. Over 2000 acres of land were transacted in the top eight cities of India, with 135 land deals recorded in 2024, compared to 90 in 2023.
The residential sector has been the key driver of these land acquisitions, with developers focusing on housing projects to meet the growing demand in both urban and suburban areas. Cities like Delhi-NCR, Bengaluru, Mumbai, Chennai, and Pune have seen the most activity. This surge in land transactions signals a positive outlook for India’s real estate market, with developers preparing for future growth in housing, commercial, and mixed-use developments.
The purchase of land by Westcon Space Pvt Ltd in Wagholi is in line with the ongoing expansion of Pune’s real estate market. As IT companies continue to grow in Kharadi and surrounding areas, the demand for both residential and commercial spaces is expected to rise. Developers are likely to focus on integrated townships, affordable housing, and premium residential projects to cater to diverse buyer segments.