Tag: Pune

Latest StoriesRegulatory

Over 350 Land Lease Violations Found in Pune and Haveli

PUNE: The city of Pune and Haveli taluka have reported the highest instances of violations concerning long-term government land leases, leading the district administration to send notices to the non-compliant institutions, officials stated on Wednesday. Types of land lease violations include failure to renew leases, unauthorized use of land, occupation beyond approved limits, illegal constructions, sub-letting for profit, not utilizing land within the required timeframe, and deviations from authorized plans. A comprehensive survey conducted across the Pune district last year examined all 2,161 government land parcels under lease. Inspections revealed 355 violations, predominantly in Pune city and Haveli taluka, according…

Latest StoriesRegulatory

Pune civic body rejects property tax hike, PCMC keeps status quo

PUNE: Residents within Pune’s civic limits will not face an increased property tax, and those in Pimpri Chinchwad are also expected to be exempt from any hikes. The Pune Municipal Corporation’s (PMC) general body (GB) unanimously rejected a proposal on Wednesday to raise property tax by 5% for the upcoming fiscal year. Similarly, the Pimpri Chinchwad Municipal Corporation (PCMC) is unlikely to propose a tax increase for the 2026-27 financial year due to the absence of a standing committee, which is required to review such proposals. Last week, the PMC brought forth the 5% tax increase proposal, but corporators from…

CommercialLatest Stories

ICE Mortgage Tech Leases 200K Sq Ft in Pune for GCC Setup

American multinational financial services company Intercontinental Exchange, via its subsidiary ICE Mortgage Technology India, has secured nearly 200,000 sq ft of office space spread across 9 floors in a commercial tower located in Pune’s Magarpatta Cybercity through a long-term lease, intending to establish a global capability center (GCC). This space, situated in Tower S3 of the business district, has been leased from Axis Max Life Insurance. The lease encompasses approximately 193,053 sq ft, covering the lower ground floor, upper ground floor, and floors one to seven. The rental rate has been set at Rs 90 per sq ft per month,…

IndustryLatest Stories

Maharashtra Forms Panel to Review TDR Relief for Redevelopment

PUNE: The state government has established a 12-member committee to re-survey river flood lines across Maharashtra, including areas in Pune and Pimpri Chinchwad, nearly a year after making this commitment in the assembly. The panel is expected to submit its report within two months. The government has tasked the committee with reviewing current regulations and suggesting amendments to the Unified Development Control and Promotion Regulations (UDCPR) to facilitate the use of Transfer of Development Rights (TDR) for properties built within flood lines prior to the irrigation department’s demarcation in 2009. A significant number of properties, particularly in Pimpri Chinchwad, were…

Latest StoriesRegulatory

Pune PMC Fines Builder for Contaminated Water in Mhalunge

PUNE: The civic authority issued a show-cause notice and imposed a fine of Rs 1 lakh on a manager/developer of VTP Aethereus for allegedly supplying contaminated water to residents at a complex in Mhalunge. According to the notice, this action was prompted by complaints from residents, although the developer has stated that the issue has been resolved. The notice from the Pune Municipal Corporation (PMC) indicated: “As the municipal water supply system is not yet operational in the area, you provided a written assurance to the Pune Metropolitan Region Development Authority (PMRDA)/PMC that you would supply safe and potable water…

Latest StoriesRera

Homebuyers Await Recovery Warrants Two Months After MahaRERA SOP

PUNE: Homebuyers seeking compensation from defaulting developers find themselves in a state of uncertainty, as execution of recovery warrants remains stalled despite the Maharashtra Real Estate Regulatory Authority (MahaRERA) implementing a new standard operating procedure (SOP) two months ago aimed at expediting the process. Among those affected are 80-year-old Arun Seth and his wife, who invested over Rs 50 lakh in a housing project back in 2014. Even though recovery warrants were issued in their favor years ago, local revenue authorities have yet to act. “Orders are issued, but nothing gets executed. It’s unclear if the developer still has any…

InfrastructureLatest Stories

Pune fines developer for dumping debris on riverbed

PUNE: The civic body has imposed a fine of ₹10 lakh on a private developer for allegedly dumping waste on the riverbed near Deccan. “The civic administration directed the Slum Rehabilitation Authority to take further action. A stop-work order should be issued for the construction project from which the debris was collected, and the site has been sealed,” noted a senior PMC official. “We will pursue criminal charges against those responsible for this illegal dumping. Monitoring efforts will be increased,” stated Avinash Sakpal, head of Pune Municipal Corporation (PMC)’s solid waste management department. PMC Commissioner Naval Kishore Ram mentioned, “The…

InfrastructureLatest Stories

Maharashtra Govt Confirms PMC as Planning Authority for 23 Areas

PUNE: On Wednesday, the state government designated the Pune Municipal Corporation (PMC) as the planning authority for the 23 areas merged into its limits in 2021. This significant decision aims to transform the city’s development dynamics. Since the merger, residents in these areas have been in a complicated situation, with daily planning decisions resting with the Pune Metropolitan Region Development Authority (PMRDA). This dual-authority scenario meant that while PMC provided water and civic services, PMRDA was in charge of issuing building permits. As a result, developers, residents, and officials often faced confusion due to overlapping regulations, ambiguous permissions, and enforcement…

InfrastructureLatest Stories

Maharashtra Plans Draft Structure for Pune Metropolitan Area

Representative AI image PUNE: The state government has instructed the PMRDA to promptly begin drafting the structure plan for the Pune Metropolitan Region (PMR). Senior officials from the urban development department mentioned that the notification was released on February 10. “The directions were issued in the public interest in accordance with provisions added through Chapter III B of the MRTP Act. The amended law allows a six-month window following the publication of the statutory notice to prepare the structure plan. Hence, the state has ordered the PMRDA to take immediate action,” they stated. PMRDA Commissioner Yogesh Mhase assured TOI on…

IndustryLatest Stories

Lodha Acquires 80% Stake in Solidrise Realty for ₹294.07 Crore

NEW DELHI: Lodha Developers has signed a share purchase agreement to acquire an 80% equity stake in Solidrise Realty (SRPL) for ₹294.07 crore. Following this acquisition, SRPL will operate as a subsidiary of the company, which is actively involved in the Pune real estate market. The acquisition aims to facilitate the company’s expansion into Pune, as stated in its regulatory filing. In the earnings report for Q3 FY26, Abhishek Lodha, the managing director and CEO, announced the addition of approximately ₹340 billion in gross development value (GDV) from new project developments, including two projects currently in the pilot phase in…