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The Rishabh Family Trust has acquired a prime 1.15-acre property in Pune's upscale Koregaon Park for INR 72 crore. The parcel, including a bungalow and outhouse with a built-up area of 16,080 sq ft, incurred a stamp duty of INR 5.04 crore. Executed under the trust with Deepa Bajaj as signatory, the purchase underscores Koregaon Park's reputation for luxury real estate, known for its bungalows, cafes, and connectivity.
The Rishabh Family Trust, with Rajivnayan Bajaj as one of its trustees, has made a significant acquisition in Pune's upscale Koregaon Park locality, securing a land parcel for INR 72 crore. According to Square Yards, the property spans 4,667.30 square metres (approximately 1.15 acres) and includes a bungalow and an outhouse, with a built-up area of 1,493.70 square metres (approximately 16,080 square feet). The deal, executed under the trust with Deepa Bajaj, Rajivnayan Bajaj's wife, serving as the authorised signatory, highlights Koregaon Park's prominence in luxury real estate. Advertisement
The purchase, registered earlier this month, incurred a stamp duty of INR 5.04 crore and a registration fee of INR 30,000. Koregaon Park is renowned for its high-end bungalows, trendy cafes, and boutique stores, making it a coveted destination for premium investments. Its central location, proximity to Pune's airport, and excellent connectivity add to its appeal.
Rajiv Bajaj, the managing director of Bajaj Auto, is credited with revolutionising the two-wheeler market through innovations like the Pulsar range of motorcycles. He is the son of the late Rahul Bajaj, the former chairman of Bajaj Auto and a stalwart of Indian industry.
This purchase follows a pattern of premium acquisitions by the Bajaj family. In 2023, Niraj Bajaj, chairman of Bajaj Auto, acquired a sea-facing triplex in Mumbai's Malabar Hill for INR 252.5 crore. Additionally, family members invested in five luxury apartments worth approximately INR 104 crore in Mumbai in 2022.
Meanwhile, Pune's real estate market reflects robust growth, reporting a 39% year-on-year increase in property registrations this October, spurred by the festive season.
The involvement of a prominent industrial family, such as the Bajaj, further highlights the area's prestige. Koregaon Park remains a favoured destination for luxury investments, reflecting broader trends in the Indian real estate market, where premium properties maintain their allure despite economic fluctuations.
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