Rajiv Bajaj’s Rishabh Family Trust buys land in Pune’s Koregaon Park for ₹72 crore

Rishabh Family Trust, that has Rajivnayan Bajaj as one of its trustees, has acquired the land parcel in Pune for ₹72 crore, property documents showed.

Rishabh Family Trust, that has Rajivnayan Bajaj, as one of its trustees has bought a 1.15 acre land parcel in Pune’s upscale Koregaon Park for ₹72 crore, documents accessed by Square Yards have shown.

Rishabh Family Trust, that has Rajivnayan Bajaj, as one of its trustees has bought a 1.15 acre land parcel in Pune’s upscale Koregaon Park for ₹72 crore, (Picture for representational purposes only).(Pixabay)

Rajivnayan Bajaj is the managing director of Bajaj Auto. He is the son of the late Rahul Bajaj, the former chairman of Bajaj Auto.

The purchase includes a 4,667.30-square-meter (approximately 1.15 acres) plot, along with a bungalow and an outhouse situated on the property, according to Square Yards.

The built-up area amounts to 1,493.70 square meters (approximately 16,079.68 square feet). The transaction was carried out under the Rishabh Family Trust, with Deepa Bajaj, wife of Rajivnayan Bajaj, serving as the signatory, the documents showed.

The deal, registered in December 2024, incurred a stamp duty of Rs. 5.04 crore and a registration fee of Rs. 30,000, according to documents reviewed by Square Yards.

An email has been sent to Bajaj Auto. The copy will be updated if a response is received.

About Koregaon Park

Koregaon Park is renowned for its luxury bungalows, trendy cafes, boutique stores, and vibrant lifestyle, making it a sought-after destination for high-end real estate investments.

In 2023, Bajaj Auto chairman Niraj Bajaj had bought a sea-facing triplex apartment from Macrotech Developers in posh Malabar Hill in Mumbai for ₹252.5 crore, as per media reports.

According to media reports, family members of the Bajaj Group had also bought five luxury apartments in Mumbai worth around ₹104 crore in in 2022.

Pune real estate market reported a 39% year-on-year (YoY) increase in property registrations that stood at 20,894 in October 2024 compared to 24,983 in September 2024. This rise was on account of the festive season beginning with Navratri 2024 on October 3 and culminating in Diwali 2024 on October 31.