Adar Poonawalla-Led Entity Buys Office Space in Pune for Rs 395 Crore
According to records viewed by PropStack, businessman Adar Poonawalla’s Rising Sun Holdings has paid Rs 395 crore for commercial space, including offices, at Building B1 of the Cerebrum IT Park in Pune’s Kalyaninagar district. According to the paperwork, the acquisition was completed through four transactions that were filed on September 11.
The vendor in these deals is Adar’s father Cyrus Poonawalla’s brother, Zavareh Soli Poonawalla, according to the records. Like his brother and nephew, Zavareh is a board member of the bigger Poonawalla group of firms, which includes the vaccine manufacturer Serum Institute of India. At Serum Institute of India, Adar serves as the CEO. Stamp duty for the transaction was paid in the amount of Rs 27.65 crore.
With a built-up area of around 2.2 lakh square feet and a total carpet area of approximately 1.76 lakh square feet, the purchased space is large. Despite being predominately residential, the Kalyaninagar region is home to a sizable number of offices, including technology, banking, and financial services.
Adar Poonawalla has been contacted by Moneycontrol for comment on the agreement; the story will be updated as soon as a response is obtained.
