Rishabh Family Trust acquires 1.15 acre Land Parcel in Pune for Rs. 72 crore

According to paperwork obtained by Square Yards, the Rishabh Family Trust, of which Rajivnayan Bajaj is a trustee, paid Rs. 72 crore for a 1.15-acre plot of land in Pune's posh Koregaon Park.

According to Square Yards, the acquisition includes a 4,667.30-square-meter (about 1.15-acre) plot, a home, and an outhouse located on the property.

1,493.70 square meters, or around 16,079.68 square feet, make up the built-up area. According to the records, Deepa Bajaj, Rajivnayan Bajaj's wife, signed the deal, which was conducted under the Rishabh Family Trust.

According to documents examined by Square Yards, the transaction, which was registered in December 2024, resulted in a registration cost of Rs. 30,000 and stamp duty of Rs. 5.04 crore.

Koregaon Park is a popular location for upscale real estate investments because of its well-known luxury bungalows, hip cafes, boutique shops, and lively nightlife.

According to media sources, in 2023, Niraj Bajaj, the Chairman of Bajaj Auto, paid Rs. 52.5 crore to Macrotech Developers for a triplex flat with a view of the sea in Mumbai's upscale Malabar Hill.

In 2022, family members of the Bajaj Group reportedly spent around 104 crore for five opulent residences in Mumbai.

In October 2024, there were 20,894 property registrations, up 39% year-over-year (YoY) from 24,983 in September 2024, according to the Pune real estate market. This increase was caused by the holiday season, which started on October 3 with Navratri 2024 and ended on October 3 with Diwali 2024.