Bajaj Auto has leased 7.63 lakh square metres of land from MIDC (Maharashtra Industrial Development Corporation) in Chakan, near Pune, for Rs 53.43 crore, according to documents accessed by Proptstack.com.
The lease is for a period of 95 years. Bajaj Auto has paid a stamp duty of Rs 3.92 crore for the deal.
The land is located in the Chakan industrial area of MIDC, which is about 40 km away from the centre of Pune city. Bajaj Auto already has a plant in Chakan, where it manufactures two-wheelers.
There was no response to a query sent to Bajaj Auto by Moneycontrol.
Also read: MSRDC to lease land parcels in Pune, Raigad for 60 years, raise over Rs 358 crore
As many as 59 deals for over 2,018 acres have been closed across the country between January to August 18, 2023. The Mumbai Metropolitan Region (MMR) leads in the number of deals, while Ahmedabad tops the charts in terms of area — 740 acres, according to a report by Anarock, a real estate consulting firm. Four deals for about 62 acres are for mixed-use developments in Noida, Gurugram, Pune, and Bengaluru.
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