Tag: Pune

CommercialLatest Stories

EFC (I) Plans ₹160 Crore Rights Issue at ₹150/Share

NEW DELHI: EFC (I), a managed workspace operator based in Pune, has received approval from its board to raise up to ₹159.94 crore through a rights issue of equity shares, as detailed in a regulatory filing. The board initially approved the rights issue on April 3, 2026, and has now approved the issuance of 1,06,62,786 fully paid-up equity shares at a price of ₹150 each, which includes a face value of ₹2 and a premium of ₹148. The rights entitlement ratio is set at 8:103, meaning eligible shareholders can claim eight rights equity shares for every 103 fully paid-up equity…

CommercialLatest Stories

Concorde leases 140K sq ft to BHIVE; TEC adds 90K sq ft in Mumbai, Pune

NEW DELHI: Concorde, based in Bengaluru, has entered a leasing agreement with BHIVE Workspaces for 1.4 lakh sq ft of grade-A office space at Concorde Econex, valued at an annual rental of ₹16 crore. The new facility, located in Doddanekkundi, Whitefield, consists of a ground floor and four upper levels. This long-term partnership features a 15-year lease, allowing BHIVE to accommodate over 3,000 workstations. In another announcement, The Executive Centre (TEC) has revealed the addition of approximately 90,000 sq ft of workspaces in Mumbai and Pune. In Mumbai, TEC is set to launch two new centers: one at One BKC,…

CommercialLatest Stories

Accenture Leases 600K Sq Ft in Pune for ₹325 Crore GCC Plan

Sure! Here’s the rewritten content with a fresh flow: MUMBAI: Accenture has signed a long-term lease for over 600,000 sq ft of office space, spanning nine floors at Phoenix Millennium Towers in Pune’s Baner area. This agreement extends for more than 15 years, as confirmed by sources familiar with the deal. The global technology and consulting firm intends to establish a Global Capability Centre (GCC) at this location, with the move scheduled to occur in two phases, concluding in June. The total rental expenditure is projected to exceed ₹325.37 crore over the lease duration, with phase I costing ₹194.16 crore…

CommercialLatest Stories

ICICI Pru Alternatives Acquires RMZ Office Assets for ₹2,600 Cr

MUMBAI: ICICI Prudential Alternatives has purchased two Grade A office properties from the RMZ Group in Bengaluru and Pune for approximately ₹2,600 crore, thereby enhancing its portfolio in income-generating commercial real estate. The acquisition was made through the ICICI Prudential Office Yield Optimiser Fund, a ₹2,500 crore initiative targeting completed and pre-leased office spaces in major Indian markets. The Bengaluru property, EcoWorld 21, is situated on the Outer Ring Road, the largest office micro-market in the country and a center for global capability centers (GCCs). This facility encompasses around 675,000 sq ft, leased to a variety of multinational companies with…

CommercialLatest Stories

WeWork India Leases 200,000 Sq Ft in Pune’s Wakad

MUMBAI: WeWork India Management has secured a lease for over 204,000 sq ft of office space at Phoenix Millennium Tower 3 in Pune’s Wakad area through a long-term agreement. The lease spans five floors—from the 13th to the 17th. The 13th, 14th, and 15th floors are leased for a decade, while the 16th and 17th floors are on a five-year term. The monthly rent is set at ₹73 per sq ft, amounting to a total monthly expenditure of more than ₹1.49 crore. The agreement includes a 12% rental increase after the first three years, followed by a 13.5% rise every…

InfrastructureLatest Stories

Mayor Requests Pollution List of Housing Societies in 7 Days

PUNE: Mayor Ravi Landge of Pimpri Chinchwad has instructed the civic environment department to identify housing societies discharging untreated sewage into nullahs within seven days and to take strict action against them. This directive came after reports indicated that effluents from residential complexes and a private educational institute were polluting the Pavana river. Mayor Landge visited Kiwale on Tuesday, where he emphasized that all sewage treatment plants (STPs) within housing societies must be fully operational. He issued a warning of legal action against housing societies and institutions failing to comply with pollution control regulations, stating, “Even officials negligent in enforcement…

CommercialLatest Stories

Pune Cantonment’s 120-Year-Old MG Road Building to Get Revamp

PUNE: The Pune Cantonment Board (PCB) is exploring ways to address its financial challenges by transforming its historic headquarters on MG Road into a commercial enterprise. This colonial-era building, over 120 years old, was the administrative center for the PCB until 1988 when it was repurposed as a cantonment court. With the court moving to a new facility in June 2024, the two-storey heritage site has become vacant. The board plans to convert this property into a source of revenue by capitalizing on its prime location. “We have initiated the process to change the property’s purpose. The proposal has been…

CommercialLatest Stories

Welspun Enterprises Acquires 4.5 Lakh Sq Ft Office in Pune

MUMBAI: Welspun Enterprises Ltd has leased over 450,000 sq ft of office space in Pune’s prominent IT area, Hinjewadi, marking one of the largest office deals in the city this year. The space, located at Radius IT Park, part of the Hinjewadi IT Park cluster, has been acquired from Indo Global Soft Solutions & Technologies under a fresh lease agreement that began on April 1. The lease encompasses approximately 457,500 sq ft of chargeable area and over 329,000 sq ft of carpet area, distributed across eight floors of the commercial space, according to documents obtained from Propstack. The agreement commences…

Latest StoriesRera

MahaRERA Approves 10,000+ Housing Projects in FY26

NAGPUR: The Maharashtra Real Estate Regulatory Authority (MahaRera) has approved 10,379 housing projects for the financial year 2025-26, highlighting its regulatory oversight and boosting the state’s real estate sector. This included 4,204 new project registrations, modifications in 2,488 projects, and timeline extensions for 3,687 developments, signaling both growth and compliance within the industry. According to the regulatory authority, these approvals align with ongoing efforts to enhance transparency and adherence to the Real Estate (Regulation and Development) Act, 2016. This act requires developers to receive MahaRera’s clearance for any changes or extensions beyond the initially sanctioned plans. Securing these approvals is…

IndustryLatest Stories

Maharashtra Launches 60 Private Property Registration Centers in July

Representative AI image PUNE: Property buyers and sellers in Maharashtra are set to benefit from quicker registrations and enhanced services as the state registration department gears up to introduce 60 privately operated registration centers starting this July. Inspired by the “passport seva kendra” model, these centers aim to simplify the registration process, albeit at an added cost to citizens. They will work alongside the state’s existing 517 government-operated registration offices. The initiative was first revealed last year by the revenue department and will be carried out in three phases. The initial phase will introduce five centers in high-traffic districts like…