Tag: Pune

InfrastructureLatest Stories

Pune’s Hinjewadi-Shivajinagar Metro Line Delayed Again

Representative AI image PUNE: The completion of the 23-km third Metro corridor, which connects Hinjewadi to Shivajinagar, is unlikely to meet its target of March-end. Officials from the Pune Metropolitan Region Development Authority (PMRDA) now suggest that full passenger services may not commence until June or July. This project, developed under a public-private partnership (PPP) with Tata Group-led Pune IT City Metro Rail Limited, is currently approximately 94% complete. Initially, the project was set for completion by the end of March, with operations beginning in April after trial runs. “While trial runs are underway, significant work remains, especially at various…

InfrastructureLatest Stories

Panel to Address Property Tax Issues in Merged Pune Areas

PUNE: On Monday, Mayor Manjusha Nagpure announced the formation of a committee to address property tax concerns from citizens in merged areas. The committee will engage with representatives from these areas to formulate suggestions regarding property tax. The state government has halted property tax collection from these merged areas following citizen complaints about exorbitant taxes imposed on both residential and commercial properties. Mayor Nagpure stated that the Pune Municipal Corporation (PMC) would consult the state government on this matter. During the meeting, citizens and their representatives voiced that properties were being taxed excessively. They argued that taxes were assessed without…

Latest StoriesRera

MahaRERA clears 6,945 homebuyer complaints, tackles backlog

PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) announced on Monday that it has addressed 6,945 complaints over the last year. This announcement comes after concerns were raised in the state assembly regarding the backlog of homebuyer grievances and the sluggish recovery of dues from non-compliant developers. Officials reported a significant increase in the complaint resolution rate, highlighting a faster pace of hearings in the past two years. Approximately 6,000 complaints still await resolution, but hearings have begun for nearly all cases except those lodged in the last two months. The rise in complaints and the delay in executing recovery…

CommercialLatest Stories

Maharashtra to establish IT park near Purandar airport

Representative AI image PUNE: On Friday, the state government announced plans to establish a new IT park near the upcoming greenfield international airport in Purandar taluka. The IT sector has welcomed this initiative, following the announcement by state industries minister Uday Samant in the assembly. However, experts urged the government to avoid repeating past infrastructure errors seen at the Hinjewadi IT park. The project, which has been discussed for the past couple of years, was confirmed in the assembly after finalizing the land for it. Samant noted, “Although the land transfer from the revenue department to MIDC is pending, we…

Latest StoriesResidential

Pune: Co-op Dept Dissolves Lohegaon Society for Denying Access

PUNE: The deputy registrar of cooperative society in Pune has disbanded the 18-member managing committee of a housing society in Lohegaon for failing to provide access to vital documents, such as audit reports and income-expenditure statements, despite multiple reminders and directives from cooperative officials. The housing society features 25 residential towers housing 657 members and nearly 1,500 residents. Deputy registrar NV Aghav issued orders on February 27 and March 4, declaring the 18 committee members ineligible for reappointment for five years starting February 27. A three-member authorized committee, selected from current society members, will oversee daily operations for the next…

IndustryLatest Stories

MHADA to Accelerate Redevelopment in Mumbai, Pune, Nashik

Sure! Here’s a rewritten version of the content: NEW DELHI: Redevelopment and brownfield projects in prime urban locations have significantly boosted the real estate sector in Maharashtra over the last two years, as stated by Anil Wankhede, Deputy CEO of the Maharashtra Housing and Area Development Authority (MHADA). In an exclusive interview with Ankit Sharma, Wankhede emphasized that MHADA is concentrating on redeveloping aging housing layouts in cities like Mumbai, Pune, and Nashik, alongside formulating policies to enhance rental housing and expedite the redevelopment of older structures. He indicated that there remains a robust demand for affordable housing through MHADA’s…

IndustryLatest Stories

Gera Developments Names Rajesh Shirwatkar CFO

Sure! Here’s a rewritten version of your content: NEW DELHI: Gera Developments (GDPL) has named Rajesh Yashwant Shirwatkar as its new Chief Financial Officer (CFO). In this role, Shirwatkar will oversee the company’s financial strategy, planning, compliance, treasury management, and governance. Additionally, Swapan Mukherjee has been promoted to Group Chief Financial Officer. “In this expanded position, he will offer financial oversight at the group level, aiding in the establishment of a solid foundation to foster the company’s growth and expansion,” stated Rohit Gera, Managing Director of the company. Published on Mar 12, 2026 at 04:30 PM IST Join 2M+ industry…

Latest StoriesResidential

Pune’s Registration Dept. Considers Cleaning Tenant Agreements

Representative AI image PUNE: The state’s property registration department is considering implementing online leave-and-licence (tenant) agreements that can be processed at any sub-registrar office within a district, rather than limiting it to specific taluka offices. This initiative aims to reduce backlog and expedite approvals. According to officials, this system has been successfully implemented in districts like Mumbai and Thane. However, its introduction in Pune has faced delays due to the use of two disparate software systems in urban and rural offices. A registration department official stated, “There are requests to initiate this process in Pune once the software issues are…

InfrastructureLatest Stories

Pune allocates ₹954 crore for merged village development

PUNE: The Pune Municipal Corporation (PMC) has proposed an allocation of approximately Rs 954 crore for the newly merged areas in its draft budget for 2026-27. This will be the first municipal budget since the recent elections of corporators from these regions, responding to urgent calls from residents and representatives to enhance infrastructure development. The budget, crafted by PMC Commissioner Naval Kishore Ram, is heavily reliant on expected revenue from building permissions and property taxes in these suburban areas. “We anticipate a significant revenue boost from building permits as development accelerates in these regions. Additionally, the PMC is expecting funding…

Latest StoriesRegulatory

Maharashtra: New Stamp Duty Penalty Starts January 1

PUNE: The increased penalty of ₹1 lakh for executing property documents without adequate stamp duty will be effective from January 1, 2026. An official from the Inspector General of Registration (IGR) office confirmed this on Monday, stating, “The amendment was notified on December 31, 2025, and will be enforced starting January 1, 2026. Any case registered concerning a shortfall in stamp duty post this date will be subjected to the revised penalty.” During the Maharashtra Budget presentation for 2026-27 on March 6, Chief Minister Devendra Fadnavis emphasized this change, proposing an increase in the penalty from the existing ₹5,000 to…