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Gramercy Info Park Pvt Ltd, a subsidiary of Pune-based Panchshil Realty, has acquired two industrial land parcels in Navi Mumbai's Ghansoli area for INR 615 crore, according to Propstack.com. The first parcel, spanning 73,600 sq m in the TTC Industrial Area, was purchased for INR 235.34 crore, while the second, covering 1.18 lakh sq m, was acquired for INR 379.65 crore. Panchshil Realty, known for luxury developments, has previously partnered with the Trump Organization for Trump Towers in Pune. The TTC Industrial Area has experienced a 9.05% rise in property values over the past year. This acquisition highlights the increasing demand for industrial and commercial spaces in Navi Mumbai and strengthens Panchshil Realty's presence in the Mumbai Metropolitan Region.
Gramercy Info Park Pvt Ltd, a subsidiary of Pune-based Panchshil Realty, has acquired two industrial land parcels in Navi Mumbai's Ghansoli area for INR 615 crore, as per Propstack.com. Advertisement
The first transaction is for a 73,600 sq m land parcel situated in the TTC Industrial Area within the MIDC region of Ghansoli, Navi Mumbai. The documents reveal that this parcel was purchased for INR 235.34 crore. The second transaction involves a larger land parcel measuring 1.18 lakh sq m in the same industrial area. As per the documents, the acquisition cost was INR 379.65 crore. The transactions were officially registered earlier this week. Additionally, a stamp duty of INR 30.75 crore and a registration fee of INR 60,000 were paid for these transactions.
Panchshil Realty, a prominent luxury real estate developer in Pune, has previously collaborated with the Trump Organization to develop the Trump Towers in the Kalyani Nagar locality. This project comprises two 23-storey towers, each containing 46 single-floor apartments. The 46 ready-to-move-in units span a total of 3.69 lakh sq ft and offer spacious 5.5 BHK layouts.
Moreover, the TTC Industrial Area has recorded a property price appreciation of 9.05% over the past year, as per Square Yards Data Intelligence. Current property prices in this area are estimated to be around INR 20,465 per sq ft as of December 2024. This acquisition marks a strategic investment in the fast-developing Ghansoli region, which is emerging as a vital hub for industrial and commercial activities.
Industry experts suggest that the deal reflects the rising demand for industrial and commercial spaces in Navi Mumbai, particularly in MIDC zones. These areas are witnessing growing interest from major developers and corporate entities.
In the past two months, several land transactions have been recorded in Pune and Mumbai. In January 2025, Chennai-based Casagrand Millenia Private Limited acquired a land parcel in Pune's Wagholi area for INR 126.04 crore, as per property registration records accessed by Square Yards.
In related pune real estate news, UC Punawale Skyscrapers LLP purchased a land parcel in Punawale, Pimpri-Chinchwad, Pune, for INR 129 crore. Additionally, a Pune-based developer, Westcon Space Private Limited, an arm of the Solitaire Group, acquired approximately four hectares (nearly 10 acres) of land in Wagholi for INR 129 crore, as per documents accessed by Propstack.com.
While outright land acquisitions have been prevalent in Pune, the Mumbai real estate market has seen multiple announcements of redevelopment and cluster development projects by listed developers. As the demand for industrial and commercial spaces grows, such acquisitions are expected to shape the evolving real estate landscape in both cities.
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