IndustryLatest Stories

No Misuse of Flats, TDR in Kothrud SRA: Maharashtra Minister

PUNE: On Friday, State Cabinet Minister Shambhuraj Desai clarified that there had been no misappropriation of flats or fraudulent transfers of Development Rights (TDR) in the Kothrud Slum Rehabilitation Authority (SRA) project. Desai was responding to a question from MLA Sunil Kamble, representing the Pune Cantonment constituency, who alleged that fraudulent TDRs and fake beneficiaries were being recorded for the Kothrud SRA project. Kamble called for an investigation into the wrongful allocation of additional TDR in the scheme. Kamble pointed out that questionable electricity bills, ration cards, and other documents belonging to fictitious beneficiaries had been generated. These were used…

IndustryLatest Stories

Kirloskar Realty Secures ₹1,150 Cr Loan from ICICI Bank

Kirloskar Industries’ real estate division, Avante Spaces, has secured a ₹1,150 crore term loan from ICICI Bank to support a Grade A office project in Pune’s Kothrud area, showcasing lenders’ ongoing interest in well-established urban developments. The funding for this 1.9 million sq. ft office project is organized in two tranches: ₹1,050 crore and ₹100 crore, with a repayment schedule of 44 months at an annual interest rate of 8%. The company has placed a mortgage on its land and all current and future constructions, securing the loan with approximately 7.25 acres of land across Plots A, C, and D…