Tata Autocomp Systems Ltd has sold a land parcel measuring more than 13.26 acres along with the structure standing on it, measuring 1 lakh sq ft, to Titania Industrial Development in Maan, Pune, for Rs 134 crore, as per documents accessed by CRE Matrix, a real estate data analytics firm.
The transaction was registered on October 27, 2023.
An email has been sent to Tata Autocomp Systems Ltd. The story will be updated once a response is received. Titania Industrial Development could not be reached.
"Pune real estate has been on a roll in recent years. The city has witnessed growth in housing sales in the last two years and a few commercial leasing deals, including TESLA recently. Pune’s PCMC region has been popular with industrial occupiers for manufacturing and warehousing. Hinjewadi houses large IT/ITeS brands, hotels, factories, and housing projects. It’s not surprising that the deal has taken place in Pune’s growth corridor - Hinjewadi," said Abhishek Kiran Gupta, CEO, and co-founder, CRE Matrix and IndexTap.com.
India’s office net absorption has recorded its strongest quarter in an 18-month period, touching 10.37 million sq ft in Q3. The manufacturing sector led the gross leasing activity in Q3, while technology firms still remained slightly restrained, a report by JLL India said. The net absorption of office spaces during the quarter was higher in the top seven cities except Chennai and Kolkata. Hyderabad took the top spot with a 26.1 percent share, followed by Bengaluru (22.9%) and Delhi-NCR (16.4%).
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