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Macrotech Developers Ltd (Lodha) has signed a joint development agreement worth INR 165.3 crore for a 20,468 sq. m. land parcel in Wakad, Pune, partnering with Goelpushp Developers LLP, Shri Balaji Ventures, and Goel Ganga Group. Landowners will receive 22.5% of the project revenue. Located near the Hinjewadi IT Park, Wakad is a fast-growing real estate hub with rising demand and prices. This deal supports Macrotech's expansion strategy across Pune, MMR, and Bengaluru. The firm plans to invest over INR 8,000 crore in FY26 for new land deals, targeting INR 25,000 crore in project revenue and INR 21,000 crore in annual sales.
Macrotech Developers Ltd, operating under the Lodha brand, has entered into a joint development agreement (JDA) valued at INR 165.3 crore for a 20,468 square metre land parcel in Pune's Wakad area. The agreement, formalized in March 2025, involves collaboration with Goelpushp Developers LLP and Shri Balaji Ventures, with Pune-based Goel Ganga Group as the development partner. Under the terms, the landowners will receive a 22.5% share of the revenue generated from the project. Additionally, Macrotech paid a stamp duty of INR 8.26 crore and a security deposit of INR 25 crore for the transaction. Advertisement
Wakad, situated near the Hinjewadi IT Park, has emerged as a prominent residential and commercial hub in Pune. The area benefits from robust social infrastructure and improved connectivity via the Pune Metro and Mumbai-Pune Expressway. In 2024, Wakad recorded 2,924 new sales transactions worth INR 2,313 crore, with property prices averaging INR 12,009 per square foot, reflecting an 8.78% annual increase.
This development aligns with Macrotech's strategic focus on expanding its footprint in key growth corridors across the Pune Metropolitan Region. The company has been actively pursuing land deals and joint developments in established suburbs as well as emerging residential hubs. In the 2024-25 fiscal year, Macrotech acquired 10 land parcels across Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, aiming to develop projects with a gross development value (GDV) of INR 23,700 crore.
Looking ahead, Macrotech plans to invest over INR 8,000 crore in the 2025-26 fiscal year for land acquisitions in MMR, Pune, and Bengaluru, targeting projects with an estimated revenue potential of INR 25,000 crore. The company has set a sales booking target of INR 21,000 crore for the current fiscal year, up from INR 17,630 crore achieved in 2024-25.
In related real estate news, the Pune market has witnessed a strong revival, with increased housing demand and steady price appreciation, especially in nodes like Wakad. In March 2025, Pune's real estate market recorded over 24,430 property registrations, up 10% year-on-year, generating INR 924 crore in stamp duty, a 12.4% increase from the previous year.
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