Tata AutoComp Systems, a prominent player in the automotive industry, has successfully sold a substantial land parcel spanning over 13.26 acres in Pune’s Maan area. The transaction, valued at ₹134 crore, involved the sale of both land and a 1,00,000 sq ft structure on the premises.
Q1: What did Tata AutoComp Systems sell in Pune, and to whom?
A1: Tata AutoComp Systems sold a 13.26-acre land parcel, including a 100,000 sq ft structure, in Pune’s Maan area to Titania Industrial Development for ₹134 crore.
Q2: What is the current zoning of the sold property, and what are Tata AutoComp’s plans?
A2: The property is currently zoned as industrial. Tata AutoComp has applied to Pune Metropolitan Regional Development Authority (PMRDA) for a change in zoning to residential.
Q3: How was the transaction structured, and what were the payment details?
A3: Titania Industrial Development made an initial payment of ₹24 crore in two tranches (₹15 crore and ₹9 crore) on October 4 and October 6, respectively. The remaining ₹109 crore was settled during the registration on October 27.
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