Pune: The Pune Agricultural Produce Market Committee (APMC) has finalized a deal to purchase 99.27 acres of surplus land from the Yashwant Sugar Factory in Theur for ₹299 crore. The decision was made in a joint meeting of the APMC board of directors and the sugar factory’s management, held on March 28 (Friday) at the APMC headquarters.
The meeting was attended by APMC Chairman Dilip Kalbhor, Yashwant Sugar Factory Chairman Subhash Jagtap, APMC Secretary Dr. Rajaram Dhondkar, and other board members. The resolution to transfer the land was unanimously approved, and the necessary government approvals will be obtained before completing the transaction.
Background of the Land Deal
The market value (Ready Reckoner rate) of the sugar factory’s land is estimated at ₹335 crore. The APMC had submitted a proposal in November to purchase this land for establishing a sub-market, seeking approval under Section 12(1) of the Maharashtra Agricultural Produce Marketing (Development and Regulation) Act, 1963.
The Directorate of Marketing had raised concerns regarding:
Holding a general assembly meeting for approval.
Obtaining permission from the Sugar Commissioner.
Finalizing the land price.
Following these directives, the land sale resolution was presented in the general assembly and later finalized in the March 28 meeting between both boards.
APMC's Fundraising Strategy for Land Acquisition
To finance the purchase, the APMC will auction 12 acres of land in Koregaon Mul (Haveli Taluka), which was earlier purchased from Shivajirao Bhosale Cooperative Bank for ₹53.17 crore on October 7, 2022.
The District Deputy Registrar (Rural) officially declared this land a sub-market area on July 5, 2024.
The APMC will seek Section 12(1) approval from the Directorate of Marketing and secure loans from nationalized banks to fund the Yashwant Sugar Factory land purchase.
The APMC initially proposed purchasing the land for ₹275 crore, while the sugar factory’s board demanded ₹325 crore. After discussions, both parties agreed on a final price of ₹299 crore in the joint meeting.
