Adani Group Acquires 25-Acre Land Parcel In Pune's Haveli For ₹470 Crore - Details Inside

Adani Group Acquires 25-Acre Land Parcel In Pune's Haveli For ₹470 Crore - Details Inside

Terravista Developers, an entity under the Adani Group, intends to utilise this land to develop a large-scale data centre facility

Aakash SinghUpdated: Wednesday, April 10, 2024, 01:27 PM IST
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Adani Group Acquires 25-Acre Land Parcel In Pune's Haveli For ₹470 Crore - Details Inside | Image: File

The Adani Group has recently secured leasehold rights for a sizable land parcel spanning over 25 acres in Pune's Haveli, for a sum of ₹470 crore from Finolex Industries.

According to reports, Terravista Developers, an entity under the Adani Group, intends to utilise this land to develop a large-scale data centre facility.

Overseen by AdaniConneX, a joint venture between Adani Enterprises and the US-based hyperscale data centre provider EdgeConneX, the Adani Group's data centre business is at the forefront of this development.

Stamp duty payment records accessed from CRE Matrix indicate that Terravista Developers has paid over ₹23.52 crore for the registration of the transaction, which was finalised on April 3.

This parcel of land is located within the Pimpri Industrial Area and was previously leased to Finolex Industries by the Maharashtra Industrial Development Corporation (MIDC). Initially, Finolex Industries held the land on lease for a period of 95 years. However, the lease has now been transferred to Terravista Developers, with the option to renew the lease for an additional 95 years.

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