Citycon Infratech Buys 13.22 Acres in Mundhwa
Pune-based real estate developer Amar Builders has acquired a 13.22-acre land parcel in Mundhwa, Pune, for ₹300 crore through its linked entity Citycon Infratech LLP. The land was purchased from members of the Irani family, with the transaction registered on February 26, 2026. This acquisition is expected to bolster Amar Builders’ portfolio, which already features 87 completed projects spanning 14 million square feet across residential, commercial, information technology, hospitality, industrial, and healthcare sectors.
The total land area measures 53,519.76 square meters, translating to roughly ₹22.7 crore per acre. The ready reckoner value of the land stood at ₹239.86 crore. Citycon Infratech LLP is led by Amar Manjrekar, Managing Director of Amar Builders, and Hrishikesh Manjrekar, Executive Director of Amar Builders.¹
Pune’s residential real estate market saw a 5% year-on-year increase in 2025, with 43,795 units launched, driven by the high-end and luxury segment. However, housing sales declined 20% year-on-year to 65,135 units, in line with the average sales trend across top Indian cities. According to Knight Frank India, Pune recorded 14,527 property registrations in January 2026, generating over ₹609 crore in stamp duty revenue for the state. Registrations saw a decline of 17% year-on-year, while stamp duty collections declined 5% year-on-year.
Amar Builders’ acquisition is part of the city’s growing real estate landscape, with other developers like Merlin Group, ASK Property Fund, and Lodha Developers also investing in Pune. The city’s strategic location and growing infrastructure make it an attractive destination for real estate investment.
