Rishabh Family Trust, which has Rajivnayan Bajaj as one of its trustees, acquired a land parcel in Pune's Koregaon Park locality for Rs 72 crore, according to a report by Square Yards.
The deal, registered in December 2024, included a stamp duty of Rs 5.04 crore and a registration fee of Rs 30,000, based on documents reviewed by Square Yards.
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Koregaon Park is well known for its upscaled bungalows, cafes and boutique stores, which attract high-end real estate investments. Its central location, proximity to Pune's airport, and connectivity are also factors that draw investors.
The purchase consists of 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, Rajivnayan Bajaj's wife, serving as the signatory.
Rajivnayan Bajaj, has been the managing director of Bajaj Auto since 2005. The Pulsar range of motorcycles was introduced during his tenure, and played a "transformative role" in reviving the firm and making it a significant name in the two-wheeler market, the company said.
Bajaj Group, was founded in 1926 by Jamnalal Bajaj in Mumbai, it is a multinational conglomerate with a diversified business portfolio.
The company reported a market capitalisation of approximately Rs 14 lakh crore (around $167 billion), the group encompasses 40 companies and employs nearly 1,00,000 individuals. Its offerings span across motorised two- and three-wheelers, home appliances, wind energy, as well as financial services, insurance, special alloys, and other products and services.
Shares of Bajaj Auto closed 1.23% lower at Rs 8,958.73 apiece on the NSE, compared to a 0.45% decrease in the benchmark Nifty 50.
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