Lodha signs development agreement for 20,468 sqm plot in Pune's Wakad

Macrotech Developers (Lodha) has signed a development agreement for a plot measuring 20,468 square metres in Pune’s Wakad, according to registration documents accessed via Propstack.

 

Macrotech acquired the land for Rs 165.3 crore from Goelpushp Developers LLP and Shri Balaji Ventures. The company signed the development agreement with Pune-based developer Goel Ganga Group and will share 22.5 per cent of the revenue generated from the project with the partner. It also paid a security deposit of Rs 25 crore.

 

Macrotech declined to comment on the transaction. The company is scheduled to announce its annual financial results today (April 24).

 

 

A stamp duty of Rs 8.26 crore was paid by Macrotech for the deal, which was registered in March 2025.

 

Macrotech already has 11 ongoing or completed projects in Pune across micro markets such as Wakad, Kharadi, Hinjewadi, Baner Road, Mumbai-Pune Expressway, Kothrud, and NIBM Road.

 

Goel Ganga Group primarily operates in residential and commercial segments in localities including the Mumbai Metropolitan Region (MMR), Nagpur, and Bengaluru, apart from Pune.

 

In 2024, Wakad recorded 2,924 new sales transactions worth Rs 2,313 crore, according to Square Yards Data Intelligence. Property prices in the area hovered around Rs 12,009 per square foot, reflecting an increase of 8.78 per cent over the year.

 

Earlier, Macrotech reported its highest-ever quarterly pre-sales of Rs 4,810 crore in the fourth quarter of FY25, marking a 14 per cent year-on-year increase.

 

For the full financial year FY25, the company’s pre-sales stood at Rs 17,630 crore, surpassing its annual guidance of Rs 17,500 crore. On an annual basis, pre-sales grew 21 per cent Y-o-Y.