Merlin Prime Spaces Private Limited has acquired a 13,185 sq metre land parcel in Pune’s Mundhwa area near Koregaon Park, for ₹273 crore, according to registration documents accessed by CRE Matrix.
The transaction was executed through a sale deed registered on February 20, 2026. The seller of the land parcel is Shridhar Nandlal Pittie, the document showed.
The transaction attracted a stamp duty payment of ₹19.11 crore, it showed.
Merlin Prime Spaces is a subsidiary of the Kolkata-based real estate developer Merlin Group.
Mundhwa has emerged as one of Pune’s active real estate corridors due to its proximity to Kharadi’s IT hub, Hadapsar and Koregaon Park, making it attractive for both residential and mixed-use developments.
A list of questions has been sent to Merlin Prime Spaces, and the story will be updated if a response is received.
Previous transactions in Pune
Earlier, Godrej Properties acquired an 8.5-acre land parcel in Pune’s Mahalunge area, where it plans to build a housing project with an estimated revenue of ₹2,000 crore. The project will have a development potential of 2.1 million sq ft, the company said.
Pune-based real estate developer Pristine Landmark Spaces LLP has also purchased a land parcel of over 16,000 sq mtrs in Pune’s Vadgaon Sheri, for ₹250 crore. The documents showed the land parcel measuring 16,861 sq mtrs is sold jointly by Kumar City Co-operative Housing Society Ltd and Kumar Urban Development Private Ltd.
Documents show the transaction was registered on February 4, 2026, for which a stamp duty of ₹17.50 crore and a registration fee of ₹30,000 were paid.
Land deals in India
At least 126 land deals covering over 3,772 acres were closed across seven top cities in 2025, compared with 133 deals for more than 2,514 acres in 2024. The Mumbai Metropolitan Region (MMR) led the activity with 32 deals spanning 500 acres, followed by Bengaluru with 27 deals spanning 454 acres, and Pune with 18 deals spanning more than 308 acres, according to an Anarock analysis.
Among tier-2 and tier-3 cities, Ahmedabad topped with 3 deals covering 603 acres, while Amritsar, Mysore, Nagpur and Vadodara saw two deals each. Of the total, over 96 deals for approximately 1,877 acres were proposed for residential development, including plotted developments, township projects, and luxury villas.
Among the top 7 cities, MMR saw the highest land area transacted with more than 500 acres in 32 separate deals, accounting for over 13 per cent share of the total land transacted across India in 2025. It showed the planned developments include residential, commercial, industrial, data centre, and plotted developments.
Bengaluru sealed 27 separate deals, accounting for a 12 per cent share of the total land area transacted in 2025, with more than 454 acres changing hands for various residential developments, including villas and plotted developments, as well as commercial and warehousing developments.
Pune saw 18 separate deals closed, totalling 308.49 acres, proposed for residential, mixed-use, township, retail, and industrial and logistics park developments, the report said.
