by THO
Finolex Industries has sold its leasehold rights of 25 acres for ₹470 crore to Terra Vista Developer in Pimpri, Waghere, Pune, documents accessed by CRE Matrix showed.
This concerns all the pieces and parcels of MIDC leasehold land … and structures on it situated in Pimpri Industrial Area, Pimpri Waghe, Takula Haveli, Pune, according to the Deed of Assignment that was registered on April 3, 2024.
The land parcel was leased to the PVC pipes manufacturer by Maharashtra Industrial Development Corporation (MIDC), the documents showed.
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The total area of the land parcel is 25.27 acres. A stamp duty of ₹23.52 crore has been paid on the transaction, the documents showed.
Finolex Industries could not be reached for a comment.
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In 2022, Microsoft Corporation (India) had acquired 10.89 lakh sq ft of commercial plot in Pune from Finolex Industries for a consolidated amount of ₹328.84 crore. The commercial plot located at Pimpri Waghere in Pune had been acquired through an agreement with Finolex Industries to transfer the lease for ₹328.84 crore.
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