Tag: Maharashtra

CommercialLatest Stories

Maharashtra Cabinet Greenlights Policy to Double Global Centres by 2030

AI-generated image (representative) NAGPUR: On Tuesday, the state cabinet approved a new policy aimed at attracting investments in Global Capacity Centres (GCCs). The initiative emphasizes Tier-2 and Tier-3 cities such as Nagpur, Nashik, and Chhatrapati Sambhaji Nagar, with a goal of increasing the number of GCCs in the state to 800. This policy, effective from 2025 to 2030, seeks to draw in investments totaling ₹50,600 crore and create 400,000 new jobs. Currently, Maharashtra is home to 400 GCCs that employ 400,000 individuals. With this decision, Maharashtra joins other states like Gujarat, Karnataka, Madhya Pradesh, and Uttar Pradesh in having a…

Latest StoriesResidential

Tenant registrations can now be cleared at any district sub-registrar.

PUNE: The state property registration department has implemented a measure to expedite online leave and license registrations, allowing tenant agreements to be processed at any sub-registrar office within a district instead of being confined to specific taluka offices. The change, part of the One District, One Registration initiative, will take effect on October 2, as announced by officials on Monday. “This will facilitate faster clearance of tenant registration documents, reducing pendency across the state,” said a senior official following a departmental review. Previously, residents had to rely on their designated local sub-registrar office, leading to a disparity in workloads—some offices…

Latest StoriesResidential

Hiranandani Group Unveils 225-Acre Township in Alibaug

NEW DELHI: Hiranandani Communities has unveiled its latest township project, Hiranandani Sands, spanning over 225 acres in Alibaug, Maharashtra. This initiative anticipates generating revenue projections of ₹17,000 crore. The initial phase covers 3.3 lakh sq ft and includes three residential towers with 330 units, featuring studio, 1, 2, and 3 BHK apartments. Prices start from ₹80 lakh for studios and go up to ₹2.85 crore for high-end 3 BHK homes. The launch of the project saw gross sales reaching ₹450 crore. The township will comprise residential homes, villas, plotted developments, and branded serviced apartments, along with five hotels, a convention…

CommercialLatest Stories

Maharashtra to open 16-acre Worli Dairy land for commerce

Representative AI image The Maharashtra government plans to transform the sea-facing Worli Dairy land, approximately 16 acres in central Mumbai, into a commercial zone, changing its previous designation as a site for a marine research institute, aquarium, and exhibition center. The Urban Development Department has issued a notification under Section 37(1AA) of the Maharashtra Regional & Town Planning Act, 1966, inviting public objections and suggestions within a month. The Worli division plot was initially marked as ‘dairy’ in the Development Plan 2034 and zoned for residential use. In 2021, the government updated its designation to include ‘marine research institute, aquarium,…

IndustryLatest Stories

NeoLiv Signs Land Development Deal in Khopoli

Representative image NeoLiv, a residential investment and development platform, has signed a management agreement for developing 47 acres of prime land in Khopoli, Maharashtra. The project, with an estimated gross development value of around ₹600 crore, will feature a mixed-use community, including premium villas, plots, and retail conveniences for a lifestyle-focused environment. “This represents one of our largest ventures in the country’s most sought-after micro-market. Supported by ultra-high-net-worth investors through our SEBI-approved fund, we aim to deliver residential developments nationwide,” stated Mohit Malhotra, founder and CEO of NeoLiv. The Panvel-Khalapur-Khopoli region has become a real estate hotspot in the Mumbai…

InfrastructureLatest Stories

Maharashtra High-Rise Safety Violations: Civil and Criminal Penalties

MUMBAI: All planning authorities in the Mumbai Metropolitan Region (MMR) are mandated to include a specific condition in their development permissions, ensuring compliance with special safety control measures for high-rise construction work at heights. According to a government resolution (GR) from the urban development department, any breaches of these safety conditions will lead to civil and criminal repercussions. “Any violation of the expert committee’s recommendations will be considered a breach of building permissions and may result in legal consequences,” the GR states. Additionally, the resolution asserts that planning authorities must monitor high-rise projects closely to ensure compliance with the expert…

IndustryLatest Stories

Revamping Maharashtra’s Housing Policy for Urban Growth

The Maharashtra government’s new housing policy aims to create a comprehensive statewide land bank of mapped, geo-tagged, and digitally linked government-owned plots. This initiative is anticipated to resolve existing supply issues and enhance the availability of affordable housing across various income brackets, positively impacting urban growth and infrastructure investment throughout the state. Included in this policy is the establishment of the State Housing Information Portal (SHIP), a centralized digital platform designed to consolidate information regarding housing demand, land availability, and project implementation. For the first time, input from municipal corporations, planning bodies such as the Maharashtra Housing and Area Development…

IndustryLatest Stories

Maharashtra to Implement Favorable Real Estate Policies

NEW DELHI: Maharashtra is committed to developing infrastructure-related policies, including housing initiatives that adapt to evolving needs, as stated by Meghana Sakore Bordikar, Maharashtra’s Minister of State. She made these remarks during the Naredco 17th National Convention in Delhi. Niranjan Hiranandani, Chairman of Naredco, stressed that the housing and real estate sectors must expand at a minimum rate of 15% annually if India aims to achieve developed-nation status before the 2047 target year. Bordikar did not confirm any plans regarding the reduction of stamp duty in Maharashtra. She noted that while no immediate commitments can be made in that area,…

IndustryLatest Stories

Maharashtra to Set Discounted Property Tax Rate This Week

PUNE: The state government and Pune Municipal Corporation (PMC) officials are set to meet on Wednesday to finalize the future approach regarding property tax implementation at discounted rates in 32 merged areas. Residents from these merged areas are requesting that the state impose property taxes at reduced rates, arguing that the PMC has levied heavy taxes following the integration of these regions into municipal limits. Last year, the state government directed the PMC to levy “twice the property tax rate charged by the grampanchayat before the merger,” in response to citizen demands. However, PMC officials stated they could not comply…

Latest StoriesRera

Linking Property Registration with MahaRERA to Combat Fraud

Representative image created by AI PUNE: The state registration department is set to merge its property registration site with the MahaRERA portal to prevent fraudulent property transactions. This proposal will be discussed in an upcoming meeting with government agency representatives. Senior officials confirmed on Tuesday that this integration will allow sub-registrars to verify project RERA registration numbers in real-time prior to completing any transaction. “We have received approval for this process, which will be initiated following consultations. This move will verify project approvals and title statuses, ensuring that developers are RERA-registered before any property registration,” an official stated. Developer associations…