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The plot of land, known as Plot No. 262 A, was originally owned by Dr. Ibrahim Mahomedbhoy Rowjee and Mahomedbhoy Alibhoy Rowjee. It was passed on to them through a will dated April 17, 1964, after the other beneficiaries had passed away.
On April 16, 1971, they sold the plot to Gope N. Virwani and Ramesh N. Virwani. Later, the Poona Municipal Council approved the division of the original land (Plot No. 262) into three smaller plots:
- Plot No. 262 A (8081.336 sq. m.)
- Plot No. 262 B (2881.600 sq. m.)
- Plot No. 262 C (1207.552 sq. m.)
The Virwani Brothers, through their partnership business, purchased all three plots and obtained approval to develop them. They constructed five buildings, each containing 20 flats. Once the flats were sold, the society was officially registered as Five Stars Co-operative Housing Society Ltd. on October 23, 1972.
On January 12, 1978, the developers transferred ownership of the buildings to the society through a Deed of Sale, registered under Serial No. 68/1978 in Pune’s Haveli II office.
