Tag: Pune

Latest StoriesResidential

Pune Proposes 10% Property Tax Hike, Citizens Challenge It

PUNE: The Pune Municipal Corporation (PMC) has proposed a 10% property tax increase aimed at enhancing revenue. The standing committee is set to discuss this proposal in a meeting on Monday; currently, it comprises only civic officials due to the absence of a new general body of elected corporators. Citizens’ groups and activists are opposing this move, advocating for the administration to prioritize the recovery of dues from defaulters instead. “There are numerous large tax defaulters. Revenue generation is achievable if their dues are collected,” stated Prashant Badhe from Aple Pune, Apala Parisar, a citizens’ group. Vivek Velankar of Sajag…

IndustryLatest Stories

Godrej Properties buys 8.5-acre land in Mahalunge, Pune

Representative Image NEW DELHI: Godrej Properties (GPL) has successfully acquired an 8.5-acre land parcel through outright purchase in Mahalunge, Pune. The proposed project will primarily feature group housing, with an estimated development potential of around 2.1 million square feet, translating to a revenue potential of ₹2,000 crore. Gaurav Pandey, Managing Director & CEO of the company, stated, “This land acquisition is a significant milestone in our strategy to strengthen our footprint in Pune and expand across high-potential micro-markets in India’s leading cities.” Additionally, the company announced it will be handing over homes across nearly 10 projects in the National Capital…

Latest StoriesRegulatory

NGT Forms Committee to Investigate Tulsi Tower Pollution Complaints

BHOPAL: The National Green Tribunal (NGT) has formed a joint committee to investigate air and noise pollution concerns raised by the residents’ welfare society of Tulsi Tower in Shivaji Nagar, one of Bhopal’s popular apartment complexes. The residents claimed they have been living in a “virtual hell” since a Pune-based construction company began work on ‘Tulsi Green,’ the second phase of the project. The tribunal noted that there have been clear environmental violations by the Madhya Pradesh Housing & Infrastructure Development Board and its contractor, despite the project receiving Environmental Clearance (EC) on July 2, 2022. The judicial member, Sheo…

IndustryLatest Stories

Maharashtra May Boost RR Rate in April Amid Rising Debt

PUNE: According to senior officials in the revenue department, purchasing a flat may become more expensive in the upcoming financial year. There is a suggestion of a potential increase in Ready Reckoner (RR) rates this April due to a growing revenue deficit and rising debt associated with welfare initiatives such as the Ladki Bahin Yojana. Discussions with stakeholders at the district level are currently ongoing, and a final decision will depend on the funding required for infrastructure projects, welfare programs, and recently introduced incentives. “Given the increasing revenue deficit and significant supplementary demands, a revision in RR rates appears to…

InfrastructureLatest Stories

Mahalunge-Maan town plan awaits final approval: PMRDA

PUNE: Seven years after the state government granted initial approval for the Mahalunge–Maan town planning (TP) scheme, the flagship project, which was highlighted during the 2019 Magnetic Maharashtra Investor Summit, is still pending final clearance from the state Urban Development Department (UDD), as reported by a senior PMRDA official. The Pune Metropolitan Region Development Authority (PMRDA) emphasized that while this model scheme remains a priority, delays have arisen due to the necessity of multiple approvals. A senior PMRDA official mentioned, “The scheme is currently under evaluation and is anticipated to receive clearance soon.” These delays come despite previous assurances from…

Latest StoriesRegulatory

Pune civic body bags ₹713 crore from extended property tax amnesty

PUNE: Civic Commissioner Naval Kishore Ram announced on Monday that the property tax amnesty scheme has been extended until February 16. The Pune Municipal Corporation (PMC) reported collecting around ₹713 crore from tax defaulters during the initial two months of the scheme, which originally concluded on January 15. “The response to the scheme was positive. However, election-related factors impacted collections. This extension allows more property owners to take advantage of it,” Ram stated during a press briefing after the Standing Committee meeting. Additionally, Ram noted that the administration is in the final stages of preparing the municipal budget for 2026–27,…

Latest StoriesRegulatory

HC criticizes MHADA for delaying Pune housing society redevelopment

PUNE: The Bombay High Court (HC) has criticized MHADA officials for “overstepping their authority” by misinterpreting the Chief Minister’s (CM) comment regarding a letter from BJP’s Kasba Peth MLA Hemant Rasne. The officials construed it as a stay on the redevelopment of the Sunglory housing cooperative and a proposal for the Nutan housing cooperative in Sadashiv Peth. The bench, comprised of Justice Girish Kulkarni and Justice Aarti Sathe, noted on December 23 the “extra-legal interference” by MLA Rasne, aimed at “pressuring MHADA officials” regarding this matter. The Court ruled that MHADA’s no-objection certificate (NOC) for the Sunglory housing cooperative, issued…

Latest StoriesResidential

Maharashtra CM urged to revoke MOFA changes, restore rights

File photo PUNE: The Akhil Bharatiya Grahak Panchayat has called on Chief Minister Devendra Fadnavis to rigorously implement the provisions of the Maharashtra Ownership of Flats (MOFA) Act. They are demanding the immediate retraction of recent amendments, which they label unjust, anti-consumer, and contrary to the public interest. These changes reportedly provide “legal immunity” to builders by removing criminal liabilities for violations. The organization emphasizes that law enforcement and relevant authorities should take criminal actions against errant builders and reaffirm ownership and conveyance rights for homebuyers throughout Maharashtra. In a comprehensive memorandum directed to the CM on December 31, the…

Latest StoriesResidential

Pune Sees 14,000+ Property Registrations in November 2025

NEW DELHI: In November 2025, Pune’s residential property market saw 14,234 registrations, representing a 6% year-on-year increase. Stamp duty collections also rose by 19% YoY to ₹565 crore, as per the data from Knight Frank India. Compared to the previous month, registrations increased by 12%, and stamp duty collections grew by 7%. From January to November 2025, Pune achieved 173,578 property registrations, marking the strongest performance during the first eleven months in the last four years. The distribution of ticket sizes remained consistent year-on-year. Homes priced below ₹1 crore still dominated, accounting for 85% of total registrations, while those priced…

Latest StoriesRera

MahaRERA’s Recovery Slow; Only 33% of ₹792 Crore Collected

PUNE: Recovery warrants issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA) are being executed slowly across the state, with only one-third of the total amount owed to homebuyers being recovered to date. Recent official data indicates that out of Rs 791.55 crore due across 1,287 complaints, only Rs 262.68 crore has been recovered (approximately 33%). According to district-level data from MahaRERA, Mumbai suburban tops the list with Rs 351.75 crore due but has collected merely Rs 109.71 crore, with 479 complaints recorded. Mumbai city ranks second, recovering Rs 53.11 crore against Rs 104.14 crore from 47 complaints. Pune, also…