Tag: Pune

IndustryLatest Stories

Pune: Cluster Redevelopment of Wadas Faces Policy and Resident Hurdles

Representative image PUNE: Nearly eight years after its proposal, progress on the cluster development initiative aimed at redeveloping aging wadas and deteriorating buildings in the city has been minimal, according to data from the Pune Municipal Corporation (PMC). The topic has resurfaced due to opposition from residents of Lokmanyanagar, a neighborhood with 52 housing societies and over 800 flats. Many buildings, built in the 1960s, are facing issues like cracked walls, irregular water supply, and inadequate drainage systems. Kasba Peth MLA Hemant Rasane commented, “Many properties are suffering due to a lack of response to cluster development. We should explore…

IndustryLatest Stories

NA Tax Scrapping Awaits GR; Pune Societies Get Notices

PUNE: Nearly a year after the state cabinet’s decision to abolish the non-agricultural (NA) tax in urban areas, housing societies are still awaiting an official government resolution (GR) to confirm the tax exemption. Several societies in Pune and Mumbai have received NA tax notices, leading some to pay the dues to avoid potential administrative actions. The NA tax, rooted in colonial times, is levied on properties built on agricultural land converted for non-agricultural use within municipal limits, excluding gaothan (village) areas. The cabinet’s decision to abolish this tax was made last October, but the law and judiciary department has delayed…

Latest StoriesRegulatory

Two Pune Officials Suspended for Ignoring Illegal Builds

PUNE: The Pune Municipal Corporation (PMC) has suspended two officials from the TDR department for allegedly allowing the construction of two unauthorized floors at a property in Baner. Municipal Commissioner Naval Kishore Ram took disciplinary action against junior engineer Shubhangi Tarukmare and deputy engineer Sandeep Misal under section 56(2)(F) of the Maharashtra Municipal Corporations Act, pending a departmental inquiry. As per the order, the construction of the sixth and seventh floors was proposed through the additional use of TDR, exceeding the approved plan. However, construction on the sixth floor has already been completed, and work on the seventh floor is…

IndustryLatest Stories

Charity Commissioner Maintains ‘Status Quo’ on Jain Trust Sale

PUNE: Maharashtra’s Charity Commissioner, Amogh Kaloti, has ordered a ‘status quo’ on the sale of a significant property in Pune’s Model Colony that currently houses a longstanding Jain boarding facility and the Mahavir Digambar Jain Temple. This decision comes amidst opposition from various factions within the Jain community, who have protested and sought legal intervention to halt the transaction. The prestigious 12,000 square metre property (3.5 acres), owned by the Seth Hirachand Nemchand Smarak Trust, which has been in operation since 1958, was sold to Gokhale Constructions for ₹311 crore. Advocate Yogesh Pandey, representing the petitioning group, argued, “The HND…

InfrastructureLatest Stories

Maharashtra Approves Pune Civic Body’s Draft Plan for Merged Areas

PUNE: Nearly eight years after its declaration, the draft development plan for the merged areas under Pune Municipal Corporation (PMC) has been approved by the state government. The notification, published on Friday, invites public suggestions and objections for the next 60 days. Civic officials stated that under Section 23(1) of the Maharashtra Regional and Town Planning Act, 1966, PMC expressed its intention to prepare a draft development plan on June 28, 2018. The proposal to merge 34 villages was ratified by PMC in 2013-14, with eleven areas incorporated into its jurisdiction in 2017. Among these, nine were partially merged, while…

Latest StoriesRera

MahaRERA Registers 200 Projects in One Day, 809 in Two Weeks

In a significant initiative to expedite project approvals across Maharashtra, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has authorized an unprecedented 200 housing projects in a single day on the eve of Dussehra, totaling 809 applications approved over the last two weeks amidst heightened activity during the festive season. These approvals include new registrations, timeline extensions, and amendments to existing projects, ensuring compliance with technical, legal, and financial standards. The regulator emphasizes that these approvals are part of broader efforts to uphold regulatory integrity while facilitating timely housing project execution throughout the state. The importance of these approvals is underscored…

IndustryLatest Stories

Maharashtra: Only 31% Builder Recovery Warrants Executed, Buyers Upset

PUNE: Homebuyers across Maharashtra are expressing their dissatisfaction with the slow progress on recovery warrants issued against non-compliant builders by MahaRERA, with only 31% of cases resolved to date. Despite a directive from the state government to hasten the process, officials revealed that only ₹243 crore has been recovered from the ₹760 crore owed in 1,212 cases. The slow recovery stands in stark contrast to revenue minister Chandrashekhar Bawankule’s promise during the state budget session to eliminate the backlog within three months. Recovery warrants, issued under Section 40(1) of the Real Estate (Regulation and Development) Act (RERA), authorize district administrations…

Latest StoriesRera

Consumer Groups Ask MahaRERA to Regulate Real Estate Influencers

PUNE: Consumer advocacy groups are urging MahaRERA to impose regulatory oversight on real estate influencers. These influencers, active across diverse platforms, often promote housing projects without verifying their registration numbers on the Maharashtra Real Estate Regulatory Authority (MahaRERA) portal, potentially misleading prospective homebuyers. Neha Patil, a homebuyer from Navi Mumbai, shared her experience: “I watched a walkthrough of a project on social media by an influencer. It appeared flawless. However, when I checked the MahaRERA portal, there was no registration number. That raised a red flag.” She noted that many potential buyers are unaware of the necessity to check these…

IndustryLatest Stories

Maharashtra Panel Proposes Cancelling Membership for Flat Owners Blocking Redevelopment

PUNE: Homeowners who continue to obstruct self-redevelopment after exhausting all legal avenues may face membership revocation, as suggested by a state-appointed study group. The panel, led by MLC Pravin Darekar, emphasized that while objections are a member’s right, persistent resistance following majority approval of a redevelopment plan constitutes holding the entire society at ransom. The report proposed that if a minimum of 51% of society members approve a redevelopment resolution (validated by the deputy registrar, cooperative court, or even the High Court), that decision should be obligatory for everyone. Dissenters would then need to vacate their flats to facilitate the…

IndustryLatest Stories

Kolte-Patil Q2 FY26 Pre-Sales Fall 13% to ₹670 Crore

NEW DELHI: Kolte-Patil Developers Ltd has reported a 13% decline in sales bookings, amounting to Rs 670 crore for Q2 of this fiscal year, attributed to reduced area sold amidst declining demand in the Indian residential sector. In the same period last year, sales bookings were ₹770 crore. According to a regulatory filing from the Pune-based firm, sales volumes fell by 17%, totaling 0.86 million square feet in the July-September quarter compared to 1.03 million square feet the previous year. In the first half of the fiscal year, the company’s sales bookings decreased by 13% to Rs 1,286 crore, down…