Tag: Pune

Latest StoriesResidential

Over 421,000 Beneficiaries Registered Under PMAY-Urban 2.0 in Maharashtra

MUMBAI: As of July 30, a total of 421,083 beneficiaries have registered on the unified web portal for the PM Awas Yojana (Urban) 2.0 in Maharashtra, with the approval for the construction of 160,463 houses, as per a government release issued on Thursday. In a review meeting, Chief Minister Devendra Fadnavis discussed the implementation of the Pradhan Mantri Awas Yojana (Urban) and available housing options under various schemes, urging all agencies to expedite their housing projects across the state. A total of 160,463 houses have received approval under the scheme. This encompasses Beneficiary-Led Construction (BLC), Affordable Housing in Partnership (AHP),…

CommercialLatest Stories

EFC (I) Q1 FY27 Net Profit Soars 52% to ₹70.85 Crore

NEW DELHI: EFC (I) has announced a 51.8% rise in its net consolidated profit after tax, reaching ₹70.85 crore for the quarter ending June 30, 2026. This is in comparison to a net profit of ₹46.67 crore for the same quarter last fiscal year. The company’s net consolidated total income also saw a significant increase of 31.8%, climbing to ₹294.29 crore in Q1 FY27 from ₹223.25 crore in Q1 FY26. The board of directors has approved a scheme for the demerger of EFC’s wholly-owned subsidiary, which focuses on asset-light managed office solutions, into EFC (I). This subsidiary operates through leased…

InfrastructureLatest Stories

PMRDA’s Major TP Schemes Transfer to Pune Civic Body

Representative AI image PUNE: The Mhalunge-Maan Town Planning (TP) scheme, presented as a model for planned urbanization at the 2018 Magnetic Maharashtra investment summit, is now set to be executed by the Pune Municipal Corporation (PMC). The Pune Metropolitan Region Development Authority (PMRDA) is transferring project documents to the PMC following the integration of the villages into PMC jurisdiction. This handover represents a major shift for five TP schemes that PMRDA has spent nearly eight years planning, securing approvals for, and preparing for execution. Numerous landowners are still awaiting the promised roads, public amenities, and infrastructure under the innovative land-pooling…

Latest StoriesRegulatory

FIR Against 22 for Using Fake PMRDA & PMC Docs in Sales

PUNE: The Ambegaon police have registered a case against 22 individuals, including seven builders and developers, for allegedly deceiving the government by using forged PMRDA and PMC development-related documents to register 22 property sale deeds. The First Information Report (FIR) was filed following a complaint from Ravindra Namdev Koli, 46, the sub-registrar at the Haveli Number 20 office in Dattanagar, Ambegaon. According to Senior Inspector Sharad Zine, the case stemmed from a complaint in March 2026 by Dadasaheb Gaikwad, founder-president of the Rayat Maharashtra General Kamgar Sanghatana. He alleged that several builders used fake approval documents that appeared to be…

IndustryLatest Stories

Pune Cantonment Board Orders Redevelopment of 100 Unsafe Buildings

Representative AI image PUNE: A recent survey has found approximately 100 century-old buildings in the Camp area to be structurally unsafe, uninhabitable, and prone to collapse. The Pune Cantonment Board (PCB) has now mandated that property owners submit redevelopment plans. These dilapidated structures are mainly located in the older sections of the cantonment, including Dastur Meher Road, Sachapir Street, Bacchu Adda, Old Modikhana, and surrounding lanes. Officials have warned that these weakened buildings pose significant risks to occupants and pedestrians, especially during the monsoon season. The board has served notices to multiple property owners, instructing them to vacate and begin…

Latest StoriesRegulatory

Bombay HC Cancels Auction of 4-Acre Shikrapur Housing Land

PUNE: The Bombay High Court has overturned the auction held on April 29 for a 4.42-acre plot, part of the Aura City housing project at Shikrapur in Shirur taluka, due to a recovery warrant issued by MahaRERA in 2021. On July 15, a bench comprising Justice AS Gadkari and Justice Kamal Khata instructed the developer, Bhagvati Infra (formerly M/s Jalan Maple Shelters), to reimburse 13 flat purchasers from 2012, including interest, within a fortnight. According to advocate Vikramsinh Patil, who represented the buyers, the total amount, including interest, stands at Rs 3.15 crore. The court mandated that once the payment…

Latest StoriesRera

MahaRERA Dashboard Lacks Updates for Six Months, Activists Alarmed

Representative AI image PUNE: Consumer activists have raised concerns regarding MahaRERA’s commitment to transparency as its online dashboard for tracking recovery warrants against defaulting developers has remained stagnant for nearly six months. This lack of updates persists despite the regulator issuing new orders during that period. The “Recovery Warrants District Wise” section on the MahaRERA website was last refreshed on January 20. Although individual recovery warrant orders issued thereafter have been uploaded, the consolidated dashboard has not been updated. This makes it challenging for homebuyers to monitor enforcement actions and recoveries. Shirish Deshpande, chairperson of Mumbai Grahak Panchayat, stated, “The…

CommercialLatest Stories

Smartworks Leases 1,100+ Seats to L&T in Pune

Representative AI Image NEW DELHI: Smartworks Coworking Spaces has strengthened its partnership with L&T Technology Services (LTTS) by adding over 1,100 seats in Pune. With this addition, LTTS’s managed office portfolio with Smartworks has reached over 2,750 seats across various locations. The anticipated rental revenue from these expansions is projected to be around ₹115 crore, with ₹55 crore coming specifically from the Pune expansion over a 60-month period. Clients with more than 1,000 seats account for approximately 37% of its total rental revenue, while enterprise clients contribute about 90% of the company’s overall revenue. Published On Jul 20, 2026 at…

Latest StoriesRegulatory

NCDRC Orders Kakade Construction to Refund or Provide Flats

PUNE: The National Consumer Disputes Redressal Commission (NCDRC) has stated that a builder’s inability to complete a project and deliver possession in a timely manner constitutes a clear deficiency in service and an unfair trade practice. According to the NCDRC bench, led by Justice Sudip Ahluwalia and member Sadhna Shanker, “A homebuyer cannot be expected to wait indefinitely for possession. In cases of significant delays, the consumer is entitled to a refund with applicable interest and compensation.” This ruling was based on a Supreme Court judgment from 2020. The bench has mandated that Kakade Construction Company Private Limited, based in…

Latest StoriesRegulatory

Pune Builder, Partner Charged with Duping Retiree of ₹12.58 Crore

PUNE: The Economic Offences Wing (EOW) of the city police has launched an inquiry into a case of fraud against a builder and his associate. They are accused of defrauding an 80-year-old man of ₹12.58 crore over the last decade. A formal complaint was filed at the Koregaon Park police station on Wednesday, leading the EOW to assume responsibility for further investigation. According to Assistant Inspector Kalyani Pandole of the EOW, the complainant was a successful warehouse businessman who is now retired. The police report indicates that the builder initiated a housing project in 2016, prompting the complainant and his…