Automaker Mahindra & Mahindra Ltd has sold a 20.5 acre plot in Kandivali (East) in Mumbai to Pune-based developer Blueprintify Properties for Rs 210 crore, property registration documents accessed by real estate analytics firm CRE Matrix show.
The deal was registered on July 24. The buyer paid a stamp duty of more than Rs 13 crore for the purchase. Blueprintify Properties shares an address with the Rucha Group of companies in Pune, which it into real estate and as well as land aggregation services.
Rucha Group did not respond to Moneycontrol's calls.
M&M's oldest manufacturing facilities are in Kandivali, just off the arterial Western Express Highway, with the company holding a large land parcel in the area. The suburb is home to large-scale housing projects, including integrated developments such as the Thakur Village.
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